Intech Investment Management LLC Boosts Stake in TD SYNNEX Co. (NYSE:SNX)

Intech Investment Management LLC lifted its holdings in TD SYNNEX Co. (NYSE:SNX) by 18.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 16,748 shares of the business services provider’s stock after acquiring an additional 2,589 shares during the quarter. Intech Investment Management LLC’s holdings in TD SYNNEX were worth $2,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of SNX. Moran Wealth Management LLC bought a new stake in TD SYNNEX in the third quarter worth about $4,270,000. First Horizon Advisors Inc. lifted its stake in TD SYNNEX by 3,731.9% in the third quarter. First Horizon Advisors Inc. now owns 2,644 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 2,575 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in TD SYNNEX by 117.1% during the third quarter. Advisors Asset Management Inc. now owns 1,259 shares of the business services provider’s stock valued at $151,000 after purchasing an additional 679 shares during the period. Meeder Asset Management Inc. increased its position in TD SYNNEX by 112.5% in the third quarter. Meeder Asset Management Inc. now owns 29,407 shares of the business services provider’s stock worth $3,531,000 after buying an additional 15,567 shares during the last quarter. Finally, Pathstone Holdings LLC raised its stake in shares of TD SYNNEX by 45.2% in the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock valued at $2,197,000 after buying an additional 5,698 shares during the period. 84.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SNX. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital reissued a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a report on Friday, September 27th. Finally, Barclays lifted their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Transactions at TD SYNNEX

In other news, insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,645 shares of company stock worth $8,414,329. 1.90% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Performance

Shares of SNX opened at $118.82 on Monday. TD SYNNEX Co. has a 12-month low of $96.93 and a 12-month high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a market cap of $10.11 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The stock has a 50-day moving average price of $118.89 and a 200-day moving average price of $119.66.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06. The business had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. TD SYNNEX’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.71 earnings per share. As a group, equities analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.35%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

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.