Could Tech Data Corporation (NASDAQ:TECD) Go Down After Its Newest Short Interest Report?

July 14, 2018 - By Paula Hilliard

Tech Data Corporation (NASDAQ:TECD) Logo

Investors sentiment decreased to 0.83 in 2018 Q1. Its down 0.56, from 1.39 in 2017Q4. It turned negative, as 35 investors sold Tech Data Corporation shares while 93 reduced holdings. 37 funds opened positions while 69 raised stakes. 35.73 million shares or 1.77% more from 35.11 million shares in 2017Q4 were reported.
Bluecrest Capital Mgmt Ltd reported 2,558 shares or 0.01% of all its holdings. Kennedy Capital Management Inc holds 0.24% or 147,570 shares. Barrow Hanley Mewhinney & Strauss Lc stated it has 26,918 shares. 141 were reported by Regions Financial Corp. Advisory Rech invested in 415,162 shares. Ing Groep Nv owns 5,281 shares. Signaturefd Ltd Company stated it has 122 shares. Commonwealth Of Pennsylvania Pub School Empls Retrmt invested in 9,361 shares. Tower Cap Ltd (Trc) reported 0.01% stake. Massachusetts Financial Svcs Ma has invested 0.01% in Tech Data Corporation (NASDAQ:TECD). Bessemer Grp Inc invested in 0% or 7,700 shares. Raymond James Fincl Ser Advsrs Incorporated holds 0% of its portfolio in Tech Data Corporation (NASDAQ:TECD) for 4,974 shares. Principal Fin Grp Inc has 0.01% invested in Tech Data Corporation (NASDAQ:TECD). Old Mutual Customised Solutions (Proprietary) Limited holds 0.02% or 1,900 shares in its portfolio. Suntrust Banks invested in 0% or 3,475 shares.

The stock of Tech Data Corporation (NASDAQ:TECD) registered a decrease of 16.64% in short interest. TECD’s total short interest was 1.25M shares in July as published by FINRA. Its down 16.64% from 1.50M shares, reported previously. With 421,400 shares average volume, it will take short sellers 3 days to cover their TECD’s short positions. The short interest to Tech Data Corporation’s float is 3.33%.

It closed at $85.51 lastly. It is down 14.61% since July 14, 2017 and is downtrending. It has underperformed by 27.18% the S&P500.

Tech Data Corporation engages in the wholesale distribution of technology products. The company has market cap of $3.28 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 27.57 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 5 analysts covering Tech Data Corp (NASDAQ:TECD), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Tech Data Corp has $127.0 highest and $95 lowest target. $108.40’s average target is 26.77% above currents $85.51 stock price. Tech Data Corp had 5 analyst reports since February 28, 2018 according to SRatingsIntel. Stifel Nicolaus maintained it with “Buy” rating and $110.0 target in Thursday, March 8 report. The stock has “Buy” rating by Bank of America on Friday, March 9. The firm earned “Buy” rating on Thursday, May 31 by Pivotal Research. Northcoast maintained Tech Data Corporation (NASDAQ:TECD) on Wednesday, February 28 with “Buy” rating. Citigroup maintained the shares of TECD in report on Friday, March 9 with “Neutral” rating.

Another recent and important Tech Data Corporation (NASDAQ:TECD) news was published by Globenewswire.com which published an article titled: “Detailed Research: Economic Perspectives on Tetraphase Pharmaceuticals, Tech Data, Southern National Bancorp of …” on June 21, 2018.

Tech Data Corporation (NASDAQ:TECD) Institutional Positions Chart

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