Institutional Investors Love Tech Data Corp (NASDAQ:TECD)

October 2, 2018 - By Linda Rogers

Tech Data Corporation (NASDAQ:TECD) Logo

Sentiment for Tech Data Corp (NASDAQ:TECD)

Tech Data Corp (NASDAQ:TECD) institutional sentiment increased to 1.37 in Q2 2018. Its up 0.54, from 0.83 in 2018Q1. The ratio is positive, as 130 funds opened new and increased equity positions, while 95 trimmed and sold holdings in Tech Data Corp. The funds in our partner’s database now have: 35.95 million shares, up from 35.73 million shares in 2018Q1. Also, the number of funds holding Tech Data Corp in their top 10 equity positions decreased from 3 to 1 for a decrease of 2. Sold All: 34 Reduced: 61 Increased: 94 New Position: 36.

Tech Data Corporation engages in the wholesale distribution of technology products. The company has market cap of $2.75 billion. It distributes and markets broadline products, such as notebooks, tablets, desktops, printers, printer supplies, and components; and data center products, including industry standard servers, proprietary servers, networking, and storage products. It has a 18.66 P/E ratio. The firm also offers software products, such as virtualization, cloud, security, desktop applications, operating systems, and utilities software; mobility products consisting of mobile phones and accessories; and consumer electronics comprising TV's, digital displays, consumer audio-visual devices, and network-attached consumer devices.

The stock increased 1.95% or $1.37 during the last trading session, reaching $71.62. About 168,336 shares traded. Tech Data Corporation (NASDAQ:TECD) has declined 11.84% since October 2, 2017 and is downtrending. It has underperformed by 27.46% the S&P500.

Shayne & Co. Llc holds 6.57% of its portfolio in Tech Data Corporation for 111,671 shares. Zpr Investment Management owns 17,310 shares or 1.9% of their US portfolio. Moreover, Lyrical Asset Management Lp has 1.76% invested in the company for 1.72 million shares. The Virginia-based Redmond Asset Management Llc has invested 0.94% in the stock. Springowl Associates Llc, a New York-based fund reported 11,500 shares.

Tech Data Corporation (NASDAQ:TECD) Ratings Coverage

Ratings analysis reveals 33% of Tech Data Corp’s analysts are positive. Out of 3 Wall Street analysts rating Tech Data Corp, 1 give it “Buy”, 1 “Sell” rating, while 1 recommend “Hold”. The lowest target is $80 while the high is $10500. The stock’s average target of $90 is 25.66% above today’s ($71.62) share price. TECD was included in 3 notes of analysts from May 31, 2018. The firm has “Buy” rating by Pivotal Research given on Thursday, May 31. As per Friday, August 31, the company rating was maintained by Citigroup. On Friday, August 31 the stock rating was downgraded by Bank of America to “Underperform”.

More recent Tech Data Corporation (NASDAQ:TECD) news were published by: Seekingalpha.com which released: “Tech Data expands partnership with iPass” on September 19, 2018. Also Streetinsider.com published the news titled: “Tech Data (TECD) Announces $200M Share Buyback Authorization” on October 02, 2018. Seekingalpha.com‘s news article titled: “Tech Data: Selloff Overdone” with publication date: September 27, 2018 was also an interesting one.

Tech Data Corporation (NASDAQ:TECD) Institutional Positions Chart

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