Alps Advisors Inc. Raises Stock Position in TD SYNNEX Corporation (NYSE:SNX)

Alps Advisors Inc. increased its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,349 shares of the business services provider's stock after purchasing an additional 9,577 shares during the period. Alps Advisors Inc. owned approximately 0.16% of TD SYNNEX worth $13,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SNX. Nisa Investment Advisors LLC increased its holdings in TD SYNNEX by 9.1% in the first quarter. Nisa Investment Advisors LLC now owns 11,982 shares of the business services provider's stock valued at $1,246,000 after buying an additional 1,000 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in TD SYNNEX by 202.5% in the first quarter. DekaBank Deutsche Girozentrale now owns 26,000 shares of the business services provider's stock valued at $2,668,000 after buying an additional 17,405 shares in the last quarter. M&T Bank Corp increased its holdings in TD SYNNEX by 77.5% in the first quarter. M&T Bank Corp now owns 4,586 shares of the business services provider's stock valued at $476,000 after buying an additional 2,003 shares in the last quarter. Brown Advisory Inc. increased its holdings in TD SYNNEX by 28.8% in the first quarter. Brown Advisory Inc. now owns 103,374 shares of the business services provider's stock valued at $10,747,000 after buying an additional 23,121 shares in the last quarter. Finally, Ninety One UK Ltd increased its holdings in TD SYNNEX by 8.5% in the first quarter. Ninety One UK Ltd now owns 2,565,191 shares of the business services provider's stock valued at $266,677,000 after buying an additional 200,628 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Stock Performance

SNX opened at $142.43 on Friday. The firm has a market capitalization of $11.75 billion, a PE ratio of 16.64, a PEG ratio of 1.17 and a beta of 1.30. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $145.10. The firm's 50-day moving average price is $126.71 and its 200 day moving average price is $125.56. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.28. The firm had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. TD SYNNEX's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.73 earnings per share. As a group, sell-side analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 11th will be issued a $0.44 dividend. The ex-dividend date is Friday, July 11th. This represents a $1.76 annualized dividend and a yield of 1.24%. TD SYNNEX's payout ratio is 20.56%.

Analysts Set New Price Targets

A number of research analysts have weighed in on SNX shares. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Cfra cut their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a report on Friday, March 28th. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Monday, June 23rd. Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Finally, Loop Capital boosted their target price on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, TD SYNNEX currently has an average rating of "Moderate Buy" and an average price target of $142.56.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the transaction, the insider directly owned 14,883 shares in the company, valued at $1,637,130. The trade was a 16.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the transaction, the chief financial officer owned 49,563 shares in the company, valued at $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,819 shares of company stock worth $9,143,874 in the last ninety days. 1.00% of the stock is owned by insiders.

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.

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