Nationwide Fund Advisors increased its position in shares of Tech Data Corp. (NASDAQ:TECD) by 11.0% during the second quarter, Holdings Channel reports. The institutional investor owned 111,824 shares of the company’s stock after buying an additional 11,056 shares during the period. Nationwide Fund Advisors owned 0.32% of Tech Data Corp. worth $8,035,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Weaver C. Barksdale & Associates Inc. raised its position in Tech Data Corp. by 7.2% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,473 shares of the company’s stock valued at $106,000 after buying an additional 99 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of Tech Data Corp. by 71.9% in the second quarter. LS Investment Advisors LLC now owns 2,102 shares of the company’s stock worth $151,000 after buying an additional 879 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Tech Data Corp. during the first quarter worth about $199,000. Fuller & Thaler Asset Management Inc. increased its position in shares of Tech Data Corp. by 18.5% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,200 shares of the company’s stock worth $230,000 after buying an additional 500 shares in the last quarter. Finally, Alambic Investment Management L.P. increased its position in shares of Tech Data Corp. by 30.0% in the second quarter. Alambic Investment Management L.P. now owns 3,900 shares of the company’s stock worth $280,000 after buying an additional 900 shares in the last quarter.
Shares of Tech Data Corp. (NASDAQ:TECD) traded up 1.35% during mid-day trading on Thursday, hitting $87.35. 340,697 shares of the stock traded hands. The stock has a market cap of $3.08 billion, a PE ratio of 14.18 and a beta of 0.95. The stock has a 50-day moving average of $76.83 and a 200 day moving average of $74.71. Tech Data Corp. has a one year low of $57.99 and a one year high of $88.70.
Tech Data Corp. (NASDAQ:TECD) last posted its quarterly earnings data on Thursday, August 25th. The company reported $1.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.43 by $0.01. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.63 billion. During the same period in the prior year, the company earned $1.43 EPS. The company’s revenue was down 3.4% compared to the same quarter last year. Equities analysts predict that Tech Data Corp. will post $5.97 EPS for the current fiscal year.
A number of brokerages recently issued reports on TECD. Citigroup Inc. lifted their price target on shares of Tech Data Corp. from $59.00 to $80.00 and gave the stock a “sell” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Tech Data Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Stifel Nicolaus upgraded shares of Tech Data Corp. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $96.00 in a research note on Tuesday. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Tech Data Corp. in a research note on Wednesday, June 29th. Finally, Northcoast Research began coverage on shares of Tech Data Corp. in a research note on Wednesday, August 10th. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $81.85.
About Tech Data Corp.
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.
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