November 28, 2016 - By Clifton Ray
Tech Data Corp’s Executive Vice President/CIO, John Tonnison, unloaded 2,515 shares of stock in the ‘s company. The shares average cost was $86.5, for full sale value of $217,605 USD. John Tonnison now indirectly holds 0 shares. He also directly holds 26769 shares. In total he holds a stake of 0.08%.
Out of 5 analysts covering Tech Data Corp (NASDAQ:TECD), 3 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 60% are positive. $96 is the highest target while $49 is the lowest. The $75 average target is -12.96% below today’s ($86.17) stock price. Tech Data Corp has been the topic of 9 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The rating was upgraded by Raymond James to “Mkt Perform” on Wednesday, November 25. The stock of Tech Data Corp (NASDAQ:TECD) earned “Neutral” rating by Bank of America on Tuesday, August 30. Raymond James downgraded the stock to “Underperform” rating in Monday, October 12 report. The stock has “Sell” rating given by Citigroup on Friday, May 27. Citigroup maintained it with “Sell” rating and $80 target price in Thursday, September 22 report. Stifel Nicolaus upgraded it to “Buy” rating and $96 target price in Tuesday, September 20 report. Bank of America upgraded the shares of TECD in a report on Tuesday, September 20 to “Buy” rating. The firm earned “Underperform” rating on Tuesday, August 18 by Bank of America.
Insitutional Activity: The institutional sentiment decreased to 0.8 in Q2 2016. Its down 0.21, from 1.01 in 2016Q1. The ratio turned negative, as 23 funds sold all Tech Data Corp shares owned while 94 reduced positions. 36 funds bought stakes while 82 increased positions. They now own 36.54 million shares or 1.02% less from 36.92 million shares in 2016Q1.
Parametric Port Assocs Ltd has 0.02% invested in the company for 202,308 shares. Walleye Trading Ltd has 4,678 shares for 0% of their US portfolio. The Florida-based Finemark State Bank Tru has invested 0% in Tech Data Corp (NASDAQ:TECD). Northern holds 690,691 shares or 0.02% of its portfolio. Jefferies Ltd Com has 0% invested in the company for 5,366 shares. S&T State Bank Pa last reported 1.65% of its portfolio in the stock. Moreover, Johnson Financial Grp has 0% invested in Tech Data Corp (NASDAQ:TECD) for 300 shares. Spark Inv Ltd Co holds 0.06% or 9,500 shares in its portfolio. First Manhattan reported 2,500 shares or 0% of all its holdings. Voya Investment Mngmt Llc owns 42,604 shares or 0.01% of their US portfolio. Zacks Inv Mngmt last reported 7,613 shares in the company. Ww Asset Mgmt holds 0.01% of its portfolio in Tech Data Corp (NASDAQ:TECD) for 2,784 shares. Aperio Group Incorporated Lc accumulated 75,696 shares or 0.04% of the stock. The Louisiana-based Louisiana State Employees Retirement Systems has invested 0.04% in Tech Data Corp (NASDAQ:TECD). Blackrock Fund Advsrs holds 0.03% or 1.76 million shares in its portfolio.
About 420,403 shares traded hands or 17.80% up from the average. Tech Data Corp (NASDAQ:TECD) has risen 22.29% since April 25, 2016 and is uptrending. It has outperformed by 16.27% the S&P500.
Tech Data Corporation is a wholesale distributor of technology products. The company has a market cap of $3.04 billion. The Firm serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its clients with logistics capabilities and services. It has a 14.29 P/E ratio. It operates through the segment of distributing technology products, logistics management and other value-added services.
According to Zacks Investment Research, “Tech Data Corp. is a leading provider of internet technology products, logistics management and other value-added services. The company distributes microcomputer hardware and software products to value-added resellers, corporate resellers, retailers, direct marketers and Internet resellers. The company’s broad assortment of vendors and products meets the customers’ need for a cost effective link to those vendors’ products offered through a single source.”
More news for Tech Data Corp (NASDAQ:TECD) were recently published by: Marketwatch.com, which released: “Avnet’s stock jumps after $2.8 billion deal to sell assets to Tech Data” on September 19, 2016. Reuters.com‘s article titled: “BRIEF-Tech Data Corp to acquire Technology Solutions Business from Avnet f..” and published on September 19, 2016 is yet another important article.
Tech Data Corporation, incorporated on November 19, 1974, is a wholesale distributor of technology products. The Firm serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its clients with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services. The Firm operates in two geographic divisions: the Americas and Europe. In addition to product offerings, it provides resellers training and technical support suite of electronic commerce tools customized shipping documents product configuration or integration services and access to financing programs. The Company’s clients include value-added resellers (VARs), direct marketers, retailers and corporate resellers who support the diverse technology needs of end users. It sells its products to clients in approximately 100 countries throughout North America, South America, Europe, the Middle East and Africa.
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By Clifton Ray