Assenagon Asset Management S.A. Has $2.91 Million Position in TD SYNNEX Corporation $SNX

Key Points

• Assenagon Asset Management S.A. increased its position in TD SYNNEX Corporation by 17.6%, now owning 21,474 shares valued at approximately $2.91 million.
• Wall Street analysts have a positive outlook on TD SYNNEX, with several upgrading their ratings and increasing price targets, resulting in an average rating of "Moderate Buy".
• TD SYNNEX recently declared a quarterly dividend of $0.44 per share, reflecting a 1.1% yield and a payout ratio of 20.56%.

Assenagon Asset Management S.A. increased its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 17.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,474 shares of the business services provider's stock after acquiring an additional 3,221 shares during the period. Assenagon Asset Management S.A.'s holdings in TD SYNNEX were worth $2,914,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Delphi Management Inc. MA boosted its position in shares of TD SYNNEX by 1.7% during the 2nd quarter. Delphi Management Inc. MA now owns 10,812 shares of the business services provider's stock valued at $1,467,000 after acquiring an additional 183 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of TD SYNNEX by 27.4% during the 1st quarter. Voya Investment Management LLC now owns 33,490 shares of the business services provider's stock valued at $3,482,000 after acquiring an additional 7,212 shares in the last quarter. Strs Ohio acquired a new stake in shares of TD SYNNEX during the 1st quarter valued at about $1,913,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of TD SYNNEX by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider's stock valued at $21,226,000 after acquiring an additional 12,615 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in shares of TD SYNNEX by 4.8% during the 1st quarter. Empowered Funds LLC now owns 69,497 shares of the business services provider's stock valued at $7,225,000 after acquiring an additional 3,156 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SNX. Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Bank of America boosted their price target on shares of TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Morgan Stanley boosted their price target on shares of TD SYNNEX from $155.00 to $173.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Finally, Royal Bank Of Canada boosted their price target on shares of TD SYNNEX from $145.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday, August 22nd. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, TD SYNNEX currently has an average rating of "Moderate Buy" and a consensus price target of $155.09.

Insider Activity

In other news, CFO Marshall Witt sold 861 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total value of $129,012.24. Following the completion of the transaction, the chief financial officer owned 49,777 shares in the company, valued at $7,458,585.68. This represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alim Dhanji sold 1,257 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the transaction, the insider owned 10,984 shares of the company's stock, valued at $1,564,231.44. This trade represents a 10.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,930 shares of company stock worth $430,163 over the last quarter. 1.00% of the stock is currently owned by company insiders.

TD SYNNEX Stock Up 6.1%

Shares of NYSE SNX opened at $159.45 on Friday. The stock has a market cap of $13.15 billion, a P/E ratio of 18.63, a P/E/G ratio of 1.22 and a beta of 1.35. The firm has a 50 day moving average price of $147.97 and a 200 day moving average price of $130.47. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $159.92.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.28. The company had revenue of $14.95 billion during the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.73 earnings per share. Analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, October 17th. TD SYNNEX's dividend payout ratio is 20.56%.

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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