Shares of Tech Data Corporation (TECD) Sees Large Outflow of Money

Tech Data Corporation (TECD) : The value of composite uptick trades was $0.03 million, whereas, the value of composite downtick trades was $0.28 million. The uptick to downtick ratio stood at 0.11 with a negative money flow of ($0.25) Million during Wednesdays trading session. The block trades money flow was negative ($0.1 million). The transaction of the trades on downticks amounted to $0.1 million, which confirms investors selling on the strength of price. Tech Data Corporation (TECD) gained 38 cents at $77.09, an increase of 0.49% over the previous days close.


Also, Equity analysts at the Brokerage firm Citigroup maintains its rating on Tech Data Corporation (NASDAQ:TECD). The rating major has initiated the coverage with sell rating on the shares. The Analysts at Citigroup raises the price target from $55 per share to $59 per share. The rating by the firm was issued on May 27, 2016.

Tech Data Corporation (NASDAQ:TECD): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $76.65 and $76.38 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $78.35. The buying momentum continued till the end and the stock did not give up its gains. It closed at $77.96, notching a gain of 1.63% for the day. The total traded volume was 215,670 . The stock had closed at $76.71 on the previous day.

The stock has recorded a 20-day Moving Average of 4.34% and the 50-Day Moving Average is 5.71%. In a related news,The officer (President, Europe) of Tech Data Corp, Cano Nestor sold 5,498 shares at $76.95 on March 31, 2016. The Insider selling transaction had a total value worth of $423,071. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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 115,000 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.

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