Market Runner: Is Tech Data Corp a Buy? The Stock Rises Again

Market Runner: Is Tech Data Corp a Buy? The Stock Rises Again

The stock of Tech Data Corp (NASDAQ:TECD) is a huge mover today! About 437,521 shares traded hands or 36.74% up from the average. Tech Data Corp (NASDAQ:TECD) has risen 11.93% since April 14, 2016 and is uptrending. It has outperformed by 7.24% the S&P500.
The move comes after 7 months positive chart setup for the $2.94B company. It was reported on Nov, 16 by Barchart.com. We have $100.44 PT which if reached, will make NASDAQ:TECD worth $646.80 million more.

Tech Data Corp (NASDAQ:TECD) Ratings Coverage

Out of 5 analysts covering Tech Data Corp (NASDAQ:TECD), 3 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 60% are positive. Tech Data Corp has been the topic of 9 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The stock has “Underperform” rating given by Bank of America on Tuesday, August 18. The stock of Tech Data Corp (NASDAQ:TECD) has “Sell” rating given on Friday, May 27 by Citigroup. The stock has “Mkt Perform” rating given by Raymond James on Wednesday, November 25. The stock of Tech Data Corp (NASDAQ:TECD) earned “Neutral” rating by Bank of America on Tuesday, August 30. The stock of Tech Data Corp (NASDAQ:TECD) earned “Underperform” rating by Raymond James on Monday, October 12. The company was upgraded on Tuesday, September 20 by Stifel Nicolaus. The firm earned “Sell” rating on Thursday, September 22 by Citigroup. The stock of Tech Data Corp (NASDAQ:TECD) has “Buy” rating given on Tuesday, September 20 by Bank of America.

According to Zacks Investment Research, “Tech Data Corp. is a leading provider of internet technology products, logistics management and other value-added services. The company distributes microcomputer hardware and software products to value-added resellers, corporate resellers, retailers, direct marketers and Internet resellers. The company’s broad assortment of vendors and products meets the customers’ need for a cost effective link to those vendors’ products offered through a single source.”

Insitutional Activity: The institutional sentiment decreased to 1.01 in Q2 2016. Its down 0.17, from 1.18 in 2016Q1. The ratio dived, as 23 funds sold all Tech Data Corp shares owned while 94 reduced positions. 36 funds bought stakes while 82 increased positions. They now own 36.54 million shares or 1.02% less from 36.92 million shares in 2016Q1.
Hutchin Hill Limited Partnership has invested 0.05% of its portfolio in Tech Data Corp (NASDAQ:TECD). Irving Magee Inv Management, a Pennsylvania-based fund reported 46,900 shares. Victory Capital Mgmt Inc owns 477,245 shares or 0.14% of their US portfolio. Numeric Investors Llc, a Massachusetts-based fund reported 204,168 shares. Donald Smith And last reported 0.53% of its portfolio in the stock. The Alberta – Canada-based Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Management Corp has invested 0.03% in Tech Data Corp (NASDAQ:TECD). Finemark Bancorporation And Trust holds 0% of its portfolio in Tech Data Corp (NASDAQ:TECD) for 21 shares. Amalgamated Bank holds 4,346 shares or 0.02% of its portfolio. Clinton Gru reported 39,163 shares or 0.12% of all its holdings. Royal Financial Bank Of Canada accumulated 47,014 shares or 0% of the stock. First Manhattan holds 0% of its portfolio in Tech Data Corp (NASDAQ:TECD) for 2,500 shares. Jpmorgan Chase & Co accumulated 0.02% or 912,267 shares. Weaver C Barksdale Incorporated has 1,473 shares for 0.18% of their US portfolio. Strs Ohio holds 0.01% of its portfolio in Tech Data Corp (NASDAQ:TECD) for 18,200 shares. Ww Asset Management has 0.01% invested in the company for 2,784 shares.

More news for Tech Data Corp (NASDAQ:TECD) were recently published by: Marketwatch.com, which released: “Avnet’s stock jumps after $2.8 billion deal to sell assets to Tech Data” on September 19, 2016. Reuters.com‘s article titled: “BRIEF-Tech Data Corp to acquire Technology Solutions Business from Avnet f…” and published on September 19, 2016 is yet another important article.

TECD Company Profile

Tech Data Corporation, incorporated on November 19, 1974, is a wholesale distributor of technology products. The Firm serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its clients with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services. The Firm operates in two geographic divisions: the Americas and Europe. In addition to product offerings, it provides resellers training and technical support suite of electronic commerce tools customized shipping documents product configuration or integration services and access to financing programs. The Company’s clients include value-added resellers (VARs), direct marketers, retailers and corporate resellers who support the diverse technology needs of end users. It sells its products to clients in approximately 100 countries throughout North America, South America, Europe, the Middle East and Africa.

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