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News to Watch: Tech Data Corporation (NASDAQ:TECD)

Tech Data Corporation (NASDAQ:TECD) spotted trading -13.16% off 52-week high price. On the other end, the stock has been noted 64.00% away from the low price over the last 52-weeks. The stock changed 2.63% to recent value of $131.53. The stock transacted 593126 shares during most recent day however it has an average volume of 800.43K shares. The company has 36.38M of outstanding shares and 35.09M shares were floated in the market.

On April 2, 2020, Tech Data Corporation (NASDAQ:TECD) and a premier government technology solutions aggregator, has expanded the availability of Oracle Cloud services and hardware for easy, government-wide acquisition through its General Services Administration (GSA) Information Technology (IT) Schedule 70 contract. DLT Solutions is a Platinum member of Oracle PartnerNetwork (OPN).

This GSA contract amendment establishes a new and more efficient procurement process for federal, state and local agencies, and education (SLED) organizations to procure Oracle solutions and keep pace with IT innovation, while leveraging predetermined contractual terms and preestablished pricing designed to maximize cost avoidance.

Providing Oracle Cloud services and hardware products through DLT’s GSA IT Schedule 70 contract streamlines the procurement process by increasing cost efficiencies and reducing time to acquire, said Chris Wilkinson, senior vice president, Sales, DLT Solutions, a Tech Data company. Couple that opportunity with a strong Oracle relationship that spans more than 28 years, and it positions DLT as a go-to government source for Oracle IT solutions.

Its earnings per share (EPS) expected to touch remained 35.10% for this year while earning per share for the next 5-years is expected to reach at 14.00%. TECD has a gross margin of 6.20% and an operating margin of 1.60% while its profit margin remained 1.00% for the last 12 months.

According to the most recent quarter its current ratio was 1.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 3.92% from the mean of 20 days, -3.97% from mean of 50 days SMA and performed 9.16% from mean of 200 days price. Company’s performance for the week was -1.77%, -7.92% for month and YTD performance remained -8.41%.

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