Oregon Public Employees Retirement Fund Increases Stake in Tech Data Corp (NASDAQ:TECD)

Oregon Public Employees Retirement Fund lifted its stake in Tech Data Corp (NASDAQ:TECD) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,142 shares of the company’s stock after purchasing an additional 213 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Tech Data were worth $1,584,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. IndexIQ Advisors LLC purchased a new position in Tech Data during the 1st quarter worth approximately $1,614,000. Crossmark Global Holdings Inc. raised its position in Tech Data by 5.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 6,613 shares of the company’s stock worth $677,000 after buying an additional 350 shares during the last quarter. Foundry Partners LLC raised its position in Tech Data by 9.0% during the 1st quarter. Foundry Partners LLC now owns 171,078 shares of the company’s stock worth $17,520,000 after buying an additional 14,103 shares during the last quarter. Pillar Pacific Capital Management LLC purchased a new position in Tech Data during the 1st quarter worth approximately $201,000. Finally, Millennium Management LLC raised its position in Tech Data by 413.9% during the 4th quarter. Millennium Management LLC now owns 140,750 shares of the company’s stock worth $11,515,000 after buying an additional 113,359 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:TECD traded down $3.82 during trading on Monday, hitting $89.35. 4,299 shares of the stock traded hands, compared to its average volume of 236,671. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.26. The stock has a market capitalization of $3.29 billion, a P/E ratio of 7.87, a price-to-earnings-growth ratio of 2.60 and a beta of 1.14. The business’s fifty day simple moving average is $100.97. Tech Data Corp has a 52-week low of $66.93 and a 52-week high of $111.08.

Tech Data (NASDAQ:TECD) last posted its earnings results on Thursday, May 30th. The company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.06. The firm had revenue of $8.41 billion during the quarter, compared to analyst estimates of $8.45 billion. Tech Data had a net margin of 0.98% and a return on equity of 15.28%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.84 EPS. As a group, equities research analysts anticipate that Tech Data Corp will post 11.98 EPS for the current fiscal year.

TECD has been the subject of a number of recent research reports. ValuEngine lowered shares of Tech Data from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research raised shares of Tech Data from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Friday, May 24th. Stifel Nicolaus lowered shares of Tech Data from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research report on Wednesday, April 17th. BidaskClub raised shares of Tech Data from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Citigroup reduced their price target on shares of Tech Data from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $99.60.

In other news, VP John A. Tonnison sold 4,000 shares of Tech Data stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $102.30, for a total transaction of $409,200.00. Following the completion of the transaction, the vice president now directly owns 29,657 shares of the company’s stock, valued at approximately $3,033,911.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas I. Morgan sold 2,000 shares of Tech Data stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $100.51, for a total transaction of $201,020.00. Following the transaction, the director now directly owns 17,491 shares of the company’s stock, valued at $1,758,020.41. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,200 shares of company stock valued at $819,858. Insiders own 1.10% of the company’s stock.

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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Institutional Ownership by Quarter for Tech Data (NASDAQ:TECD)

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