The stock of Tech Data Corp (NASDAQ:TECD) reached all time high today, Nov, 22 and still has $88.93 target or 3.00% above today’s $86.34 share price. This indicates more upside for the $3.07B company. This technical setup was reported by Barchart.com. If the $88.93 PT is reached, the company will be worth $92.10 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 666,622 shares traded hands or 92.67% up from the average. Tech Data Corp (NASDAQ:TECD) has risen 16.75% since April 20, 2016 and is uptrending. It has outperformed by 12.20% the S&P500.
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 rating was upgraded by Stifel Nicolaus on Tuesday, September 20 to “Buy”. As per Tuesday, August 30, the company rating was upgraded by Bank of America. Citigroup maintained Tech Data Corp (NASDAQ:TECD) on Friday, May 27 with “Sell” rating. The firm has “Buy” rating given on Tuesday, September 20 by Bank of America. As per Wednesday, November 25, the company rating was upgraded by Raymond James. The firm earned “Sell” rating on Thursday, September 22 by Citigroup. Raymond James downgraded the stock to “Underperform” rating in Monday, October 12 report. Bank of America initiated Tech Data Corp (NASDAQ:TECD) rating on Tuesday, August 18. Bank of America has “Underperform” rating and $49 price target.
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 0.8 in 2016 Q2. Its down 0.21, from 1.01 in 2016Q1. The ratio is negative, 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.
Credit Agricole S A owns 4,636 shares or 0% of their US portfolio. Federated Pa reported 193,899 shares or 0.04% of all its holdings. Allianz Asset Mgmt Ag has invested 0% of its portfolio in Tech Data Corp (NASDAQ:TECD). Dynamic Management Ltd holds 0.04% or 4,785 shares in its portfolio. Fuller And Thaler Asset Inc owns 3,200 shares or 0% of their US portfolio. Smith Asset Mngmt Gru L P last reported 240 shares in the company. S&T Bancorporation Pa, a Pennsylvania-based fund reported 140,263 shares. The Massachusetts-based Rhumbline Advisers has invested 0.02% in Tech Data Corp (NASDAQ:TECD). Deutsche Comml Bank Ag holds 0.02% or 322,251 shares in its portfolio. Meeder Asset holds 0.05% of its portfolio in Tech Data Corp (NASDAQ:TECD) for 7,614 shares. Us National Bank De has 467 shares for 0% of their US portfolio. Finemark State Bank And Trust accumulated 21 shares or 0% of the stock. First Quadrant Limited Partnership Ca accumulated 0.1% or 63,200 shares. Spot Trading Lc accumulated 4,467 shares or 0.01% of the stock. Stifel Finance holds 0.01% or 26,442 shares in its portfolio.
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.