First Republic Investment Management Inc. grew its holdings in Tech Data Corp (NASDAQ:TECD) by 77.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,677 shares of the company’s stock after purchasing an additional 10,355 shares during the quarter. First Republic Investment Management Inc.’s holdings in Tech Data were worth $2,425,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Tech Data by 2.1% during the fourth quarter. BlackRock Inc. now owns 4,472,444 shares of the company’s stock valued at $365,890,000 after acquiring an additional 93,303 shares during the period. Vanguard Group Inc. lifted its stake in shares of Tech Data by 2.4% during the third quarter. Vanguard Group Inc. now owns 3,473,612 shares of the company’s stock valued at $248,607,000 after acquiring an additional 81,529 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Tech Data by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,200,146 shares of the company’s stock valued at $261,803,000 after acquiring an additional 34,598 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Tech Data by 1.7% during the third quarter. JPMorgan Chase & Co. now owns 1,021,605 shares of the company’s stock valued at $73,116,000 after acquiring an additional 16,863 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Tech Data by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 927,226 shares of the company’s stock valued at $66,361,000 after acquiring an additional 30,630 shares during the period. 98.73% of the stock is currently owned by institutional investors.
In related news, Director Robert M. Dutkowsky sold 14,892 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $108.02, for a total value of $1,608,633.84. Following the completion of the sale, the director now owns 219,938 shares in the company, valued at $23,757,702.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David R. Vetter sold 2,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $110.18, for a total value of $220,360.00. The disclosure for this sale can be found here. Insiders sold 61,141 shares of company stock valued at $6,446,465 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently commented on TECD shares. BidaskClub downgraded Tech Data from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Zacks Investment Research downgraded Tech Data from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd. Finally, Stifel Nicolaus downgraded Tech Data from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $98.83.
NASDAQ TECD opened at $103.10 on Friday. The stock has a market capitalization of $3.80 billion, a P/E ratio of 9.06, a P/E/G ratio of 4.18 and a beta of 0.96. The company has a quick ratio of 0.86, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. Tech Data Corp has a 12 month low of $66.93 and a 12 month high of $111.08.
Tech Data (NASDAQ:TECD) last released its quarterly earnings data on Thursday, March 7th. The company reported $4.55 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.52. The business had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.63 billion. Tech Data had a return on equity of 15.17% and a net margin of 0.91%. The firm’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.50 earnings per share. On average, equities research analysts predict that Tech Data Corp will post 11.77 EPS for the current year.
Tech Data Profile
Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
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