Peregrine Capital Management LLC cut its position in Tech Data Corp (NASDAQ:TECD) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,593 shares of the company’s stock after selling 489 shares during the period. Peregrine Capital Management LLC owned about 0.50% of Tech Data worth $19,204,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in TECD. Oregon Public Employees Retirement Fund increased its stake in Tech Data by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 15,142 shares of the company’s stock worth $1,584,000 after buying an additional 213 shares during the period. AdvisorNet Financial Inc increased its position in Tech Data by 32.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,182 shares of the company’s stock valued at $124,000 after purchasing an additional 292 shares during the period. Country Club Trust Company n.a. increased its position in Tech Data by 52.0% during the 2nd quarter. Country Club Trust Company n.a. now owns 3,230 shares of the company’s stock valued at $337,000 after purchasing an additional 1,105 shares during the period. Hennessy Advisors Inc. purchased a new position in Tech Data during the 2nd quarter valued at about $2,896,000. Finally, Empirical Finance LLC increased its position in Tech Data by 0.9% during the 2nd quarter. Empirical Finance LLC now owns 27,770 shares of the company’s stock valued at $2,905,000 after purchasing an additional 251 shares during the period. 99.54% of the stock is owned by hedge funds and other institutional investors.

Shares of Tech Data stock opened at $101.27 on Tuesday. The stock has a 50 day moving average price of $100.80. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.26. Tech Data Corp has a 52-week low of $66.93 and a 52-week high of $111.08. The stock has a market cap of $3.72 billion, a P/E ratio of 8.90, a P/E/G ratio of 2.84 and a beta of 1.13.

Tech Data (NASDAQ:TECD) last issued its quarterly earnings data on Thursday, May 30th. The company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. Tech Data had a net margin of 0.98% and a return on equity of 15.28%. The firm had revenue of $8.41 billion for the quarter, compared to the consensus estimate of $8.45 billion. During the same quarter in the previous year, the firm earned $1.84 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts expect that Tech Data Corp will post 11.98 earnings per share for the current fiscal year.

In other news, Director Thomas I. Morgan sold 2,000 shares of Tech Data stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $100.51, for a total value of $201,020.00. Following the transaction, the director now owns 17,491 shares of the company’s stock, valued at approximately $1,758,020.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John A. Tonnison sold 4,000 shares of Tech Data stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $102.30, for a total transaction of $409,200.00. Following the completion of the transaction, the vice president now directly owns 29,657 shares in the company, valued at approximately $3,033,911.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,200 shares of company stock worth $819,858. Insiders own 1.10% of the company’s stock.

A number of research analysts have commented on TECD shares. Stifel Nicolaus set a $80.00 target price on shares of CSX and gave the company a “hold” rating in a research report on Wednesday, April 17th. Citigroup set a $27.00 target price on shares of StoneCo and gave the company a “hold” rating in a research report on Friday, May 31st. BidaskClub downgraded shares of ZIX from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 21st. Finally, Zacks Investment Research downgraded shares of Hammerson from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Tech Data currently has a consensus rating of “Hold” and an average target price of $99.60.

About Tech Data

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.

Further Reading: Lock-Up Period Expiration

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Institutional Ownership by Quarter for Tech Data (NASDAQ:TECD)

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