ARP Americas LP Boosts Position in Tech Data Corp (TECD)
ARP Americas LP increased its position in shares of Tech Data Corp (NASDAQ:TECD) by 165.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 21,269 shares of the company’s stock after buying an additional 13,269 shares during the period. ARP Americas LP’s holdings in Tech Data were worth $2,178,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. grew its holdings 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 worth $365,890,000 after buying an additional 93,303 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 worth $261,803,000 after buying an additional 34,598 shares in the last quarter. JPMorgan Chase & Co. grew its holdings 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 worth $73,116,000 after buying an additional 16,863 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Tech Data by 1.4% during the fourth quarter. Macquarie Group Ltd. now owns 922,562 shares of the company’s stock worth $75,475,000 after buying an additional 12,823 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Tech Data by 10.6% during the fourth quarter. Geode Capital Management LLC now owns 534,094 shares of the company’s stock worth $43,693,000 after buying an additional 51,329 shares in the last quarter. Institutional investors and hedge funds own 98.82% of the company’s stock.
In related news, VP David R. Vetter sold 6,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $98.12, for a total transaction of $588,720.00. Following the completion of the transaction, the vice president now directly owns 36,570 shares of the company’s stock, valued at $3,588,248.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Michael Rabinovitch sold 1,133 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $99.06, for a total value of $112,234.98. The disclosure for this sale can be found here. Insiders have sold 61,141 shares of company stock valued at $6,446,465 over the last three months. Insiders own 1.10% of the company’s stock.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, March 7th. The company reported $4.55 EPS for the quarter, beating the consensus estimate of $4.03 by $0.52. Tech Data had a return on equity of 15.17% and a net margin of 0.91%. The firm had revenue of $10.47 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the prior year, the firm posted $3.50 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Tech Data Corp will post 11.77 EPS for the current year.
A number of research firms recently issued reports on TECD. BidaskClub downgraded Tech Data from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research downgraded Tech Data from a “buy” rating to a “hold” rating in a report on Friday, February 8th. 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $98.83.
Tech Data Company 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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