Tech Data Corp (TECD) : Shayne reduced its stake in Tech Data Corp by 0.76% during the most recent quarter end. The investment management company now holds a total of 111,688 shares of Tech Data Corp which is valued at $7,671,849 after selling 850 shares in Tech Data Corp , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Tech Data Corp makes up approximately 6.52% of Shayne’s portfolio.
Tech Data Corp closed down -3.79 points or -5.52% at $64.9 with 8,38,683 shares getting traded on Monday. Post opening the session at $66.53, the shares hit an intraday low of $63.22 and an intraday high of $66.61 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Other Hedge Funds, Including , Glenmede Trust Co Na boosted its stake in TECD in the latest quarter, The investment management firm added 3,475 additional shares and now holds a total of 26,495 shares of Tech Data Corp which is valued at $1,819,942. Tech Data Corp makes up approx 0.01% of Glenmede Trust Co Na’s portfolio. Leavell Investment Management added TECD to its portfolio by purchasing 3,500 company shares during the most recent quarter which is valued at $249,865. Tech Data Corp makes up approx 0.04% of Leavell Investment Management’s portfolio.Oregon Public Employees Retirement Fund reduced its stake in TECD by selling 347 shares or 1.22% in the most recent quarter. The Hedge Fund company now holds 28,131 shares of TECD which is valued at $2,018,962. Tech Data Corp makes up approx 0.05% of Oregon Public Employees Retirement Fund’s portfolio.Livforsakringsbolaget Skandia Omsesidigt boosted its stake in TECD in the latest quarter, The investment management firm added 11,800 additional shares and now holds a total of 33,500 shares of Tech Data Corp which is valued at $2,404,295. Tech Data Corp makes up approx 0.11% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio.
On the company’s financial health, Tech Data Corp reported $2.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Mar 3, 2016. Analyst had a consensus of $2.08. The company had revenue of $7483.36 million for the quarter, compared to analysts expectations of $7092.08 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.96 EPS.
Many Wall Street Analysts have commented on Tech Data Corp. Shares were Downgraded by Citigroup on May 2, 2016 to ” Sell” and Lowered the Price Target to $ 55 from a previous price target of $76 .
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market as well as providing customers with logistics capabilities and services. Its customers include approximately 115000 value-added resellers (VARs) direct marketers retailers and corporate resellers who support the diverse technology needs of end users. It sells its products to customers in more than 100 countries throughout North America South America Europe the Middle East and Africa. The Company is managed in two geographic segments: the Americas and Europe. In addition to a range of product offerings the Company provides resellers training and technical support suite of electronic commerce tools (including Internet order entry and electronic data interchange (EDI) services) customized shipping documents product configuration or integration services and access to financing programs.