Standard Life Aberdeen plc lowered its position in shares of Tech Data Corp (NASDAQ:TECD) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,554 shares of the company’s stock after selling 886 shares during the quarter. Standard Life Aberdeen plc’s holdings in Tech Data were worth $1,419,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Enlightenment Research LLC acquired a new stake in Tech Data during the fourth quarter worth approximately $25,000. First Hawaiian Bank acquired a new stake in Tech Data during the fourth quarter worth approximately $48,000. AdvisorNet Financial Inc boosted its position in Tech Data by 28.9% during the fourth quarter. AdvisorNet Financial Inc now owns 1,114 shares of the company’s stock worth $91,000 after acquiring an additional 250 shares during the last quarter. Cutler Group LP boosted its position in Tech Data by 357.4% during the fourth quarter. Cutler Group LP now owns 1,148 shares of the company’s stock worth $93,000 after acquiring an additional 897 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Tech Data during the fourth quarter worth approximately $103,000. Hedge funds and other institutional investors own 97.09% of the company’s stock.
In other Tech Data news, Director Robert M. Dutkowsky sold 10,000 shares of Tech Data stock in a transaction on Friday, January 11th. The shares were sold at an average price of $91.02, for a total value of $910,200.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Beth E. Simonetti sold 592 shares of the firm’s stock in a transaction on Friday, January 11th. The shares were sold at an average price of $91.98, for a total transaction of $54,452.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,725 shares of company stock worth $2,167,307. 1.10% of the stock is owned by company insiders.
Tech Data (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, March 7th. The company reported $4.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.52. The company had revenue of $10.47 billion for the quarter, compared to analyst estimates of $10.63 billion. Tech Data had a net margin of 0.91% and a return on equity of 15.17%. Tech Data’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $3.50 EPS. Sell-side analysts forecast that Tech Data Corp will post 11.72 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the stock. BidaskClub lowered shares of Tech Data from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research lowered shares of Tech Data from a “buy” rating to a “hold” rating in a research report on Friday, February 8th. Needham & Company LLC raised their target price on shares of Tech Data to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 30th. ValuEngine upgraded shares of Tech Data from a “sell” rating to a “hold” rating in a research report on Friday, November 30th. Finally, TheStreet upgraded shares of Tech Data from a “c+” rating to a “b-” rating in a research report on Thursday, December 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $97.60.
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Tech Data Company Profile
Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
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