Could Tech Data Corporation (NASDAQ:TECD) Skyrocket? The Stock Had Too Little Sellers

September 30, 2018 - By Mary Kidd

Tech Data Corporation (NASDAQ:TECD) Logo

Investors sentiment increased to 1.37 in Q2 2018. Its up 0.54, from 0.83 in 2018Q1. It increased, as 34 investors sold Tech Data Corporation shares while 61 reduced holdings. 36 funds opened positions while 94 raised stakes. 35.95 million shares or 0.61% more from 35.73 million shares in 2018Q1 were reported.
Pnc Fincl Gru, Pennsylvania-based fund reported 63,809 shares. Country Club Company Na invested 0.04% of its portfolio in Tech Data Corporation (NASDAQ:TECD). Systematic Fincl L P reported 17,174 shares or 0.03% of all its holdings. Barrow Hanley Mewhinney And Strauss Limited Liability Company reported 26,918 shares. Svcs Automobile Association, a Texas-based fund reported 844,549 shares. First L P has 0% invested in Tech Data Corporation (NASDAQ:TECD). Alliancebernstein L P has invested 0.01% in Tech Data Corporation (NASDAQ:TECD). Kempen Cap Mgmt Nv has invested 0.33% in Tech Data Corporation (NASDAQ:TECD). Strs Ohio owns 18,800 shares. Landscape Cap Mgmt Limited Liability owns 3,868 shares. Verition Fund Mgmt Llc owns 4,760 shares for 0.02% of their portfolio. Prudential invested in 0.04% or 345,957 shares. 13,500 were accumulated by Virginia Retirement Et Al. First Quadrant Lp Ca has invested 0.06% in Tech Data Corporation (NASDAQ:TECD). Bailard holds 38,100 shares.

The stock of Tech Data Corporation (NASDAQ:TECD) registered a decrease of 6.29% in short interest. TECD’s total short interest was 798,000 shares in September as published by FINRA. Its down 6.29% from 851,600 shares, reported previously. With 451,700 shares average volume, it will take short sellers 2 days to cover their TECD’s short positions. The short interest to Tech Data Corporation’s float is 2.12%.

The stock increased 0.69% or $0.49 during the last trading session, reaching $71.57. About 219,367 shares traded. Tech Data Corporation (NASDAQ:TECD) has declined 11.84% since September 30, 2017 and is downtrending. It has underperformed by 27.46% the S&P500.

Tech Data Corporation engages in the wholesale distribution of technology products. The company has market cap of $2.75 billion. It distributes and markets broadline products, such as notebooks, tablets, desktops, printers, printer supplies, and components; and data center products, including industry standard servers, proprietary servers, networking, and storage products. It has a 18.64 P/E ratio. The firm also offers software products, such as virtualization, cloud, security, desktop applications, operating systems, and utilities software; mobility products consisting of mobile phones and accessories; and consumer electronics comprising TV's, digital displays, consumer audio-visual devices, and network-attached consumer devices.

Tech Data Corporation (NASDAQ:TECD) Ratings Coverage

Among 3 analysts covering Tech Data Corp (NASDAQ:TECD), 1 have Buy rating, 1 Sell and 1 Hold. Therefore 33% are positive. Tech Data Corp had 3 analyst reports since May 31, 2018 according to SRatingsIntel. On Friday, August 31 the stock rating was downgraded by Bank of America to “Underperform”. The firm has “Neutral” rating by Citigroup given on Friday, August 31. The stock has “Buy” rating by Pivotal Research on Thursday, May 31.

More news for Tech Data Corporation (NASDAQ:TECD) were recently published by: Seekingalpha.com, which released: “Tech Data expands partnership with iPass” on September 19, 2018. Seekingalpha.com‘s article titled: “Tech Data: Selloff Overdone” and published on September 27, 2018 is yet another important article.

Tech Data Corporation (NASDAQ:TECD) Institutional Positions Chart

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