Scientech Research LLC Purchases Shares of 4,844 TD SYNNEX Co. (NYSE:SNX)

Scientech Research LLC acquired a new position in shares of TD SYNNEX Co. (NYSE:SNX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 4,844 shares of the business services provider’s stock, valued at approximately $559,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp grew its position in TD SYNNEX by 5.8% during the 2nd quarter. Mackenzie Financial Corp now owns 30,168 shares of the business services provider’s stock worth $3,481,000 after purchasing an additional 1,646 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in TD SYNNEX by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider’s stock worth $7,794,000 after purchasing an additional 11,589 shares in the last quarter. AQR Capital Management LLC grew its position in TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after purchasing an additional 269,759 shares in the last quarter. Point72 Hong Kong Ltd grew its position in TD SYNNEX by 87.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 6,313 shares of the business services provider’s stock worth $729,000 after purchasing an additional 2,942 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in TD SYNNEX by 148.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 313,005 shares of the business services provider’s stock worth $36,121,000 after purchasing an additional 186,905 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SNX shares. Bank of America lowered their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Barclays boosted their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.57.

TD SYNNEX Trading Up 0.8 %

Shares of NYSE:SNX opened at $119.67 on Friday. The stock has a market capitalization of $10.23 billion, a PE ratio of 16.76, a P/E/G ratio of 1.18 and a beta of 1.49. TD SYNNEX Co. has a 1 year low of $89.73 and a 1 year high of $133.85. The firm has a fifty day moving average price of $116.22 and a 200 day moving average price of $117.97. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. TD SYNNEX’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.71 earnings per share. Analysts expect that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Friday, October 11th. TD SYNNEX’s dividend payout ratio is 22.41%.

Insiders Place Their Bets

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders sold a total of 15,188 shares of company stock valued at $1,685,455 in the last quarter. Insiders own 1.90% of the company’s stock.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.