Today, Hennessy Advisors Inc. Sold shares of Tech Data Corp. (TECD)

Today, Hennessy Advisors Inc. Sold shares of Tech Data Corp. (TECD)

Hennessy Advisors Inc. decreased its position in Tech Data Corp. (NASDAQ:TECD) by 12.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 494,900 shares of the company’s stock after selling 68,500 shares during the period. Tech Data Corp. accounts for about 1.2% of Hennessy Advisors Inc.’s holdings, making the stock its 19th largest position. Hennessy Advisors Inc.’s holdings in Tech Data Corp. were worth $41,923,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in shares of Tech Data Corp. by 2.8% in the second quarter. Macquarie Group Ltd. now owns 667,822 shares of the company’s stock worth $47,983,000 after buying an additional 18,286 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Tech Data Corp. by 401.7% in the second quarter. BNP Paribas Arbitrage SA now owns 24,812 shares of the company’s stock worth $1,783,000 after buying an additional 19,866 shares during the last quarter. First Quadrant L P CA boosted its stake in shares of Tech Data Corp. by 413.8% in the second quarter. First Quadrant L P CA now owns 63,200 shares of the company’s stock worth $4,541,000 after buying an additional 50,900 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Tech Data Corp. by 6.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 56,600 shares of the company’s stock worth $3,979,000 after buying an additional 3,500 shares during the last quarter. Finally, Foundry Partners LLC boosted its stake in shares of Tech Data Corp. by 7.8% in the third quarter. Foundry Partners LLC now owns 113,157 shares of the company’s stock worth $9,586,000 after buying an additional 8,205 shares during the last quarter.

Tech Data Corp. (NASDAQ:TECD) traded down 0.67% during midday trading on Monday, reaching $86.06. 294,855 shares of the company were exchanged. Tech Data Corp. has a 52-week low of $57.99 and a 52-week high of $89.36. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 13.97 and a beta of 0.87. The company has a 50 day moving average of $80.21 and a 200-day moving average of $77.40.

Tech Data Corp. (NASDAQ:TECD) last announced its earnings results on Tuesday, November 22nd. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.18. The firm had revenue of $6.49 billion for the quarter, compared to analyst estimates of $6.36 billion. Tech Data Corp. had a net margin of 0.81% and a return on equity of 10.51%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 EPS. On average, equities research analysts anticipate that Tech Data Corp. will post $5.95 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on TECD shares. Bank of America Corp. raised shares of Tech Data Corp. from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Tuesday, September 20th. Zacks Investment Research raised shares of Tech Data Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 15th. raised shares of Tech Data Corp. from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $102.00 in a research note on Tuesday, September 20th. Brean Capital reaffirmed a “buy” rating and set a $82.00 price objective on shares of Tech Data Corp. in a research note on Friday, August 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tech Data Corp. in a research note on Friday, August 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $94.67.

About Tech Data Corp.

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 its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.

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