Atlas Capital Advisors Inc. Takes Position in TD SYNNEX Corporation $SNX

Key Points

• Atlas Capital Advisors disclosed a new position in TD SYNNEX, buying 7,139 shares valued at about $1.07 million in the fourth quarter.
• Institutional interest remains strong, with 84% of the stock owned by institutions and hedge funds, while insiders have been selling shares in recent months, including director Richard T. Hume and CFO David Gregory Jordan.
• TD SYNNEX reported better-than-expected earnings and revenue in its latest quarter, and analysts remain generally positive, with a Moderate Buy consensus and several recent rating upgrades, including JPMorgan’s move to Overweight.

Atlas Capital Advisors Inc. acquired a new stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 7,139 shares of the business services provider's stock, valued at approximately $1,072,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC raised its stake in shares of TD SYNNEX by 3.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider's stock valued at $317,000 after purchasing an additional 71 shares during the period. Quadrant Capital Group LLC raised its stake in shares of TD SYNNEX by 1.0% in the 4th quarter. Quadrant Capital Group LLC now owns 7,588 shares of the business services provider's stock valued at $1,140,000 after purchasing an additional 73 shares during the period. Jones Financial Companies Lllp raised its stake in shares of TD SYNNEX by 10.6% in the 3rd quarter. Jones Financial Companies Lllp now owns 775 shares of the business services provider's stock valued at $127,000 after purchasing an additional 74 shares during the period. Ossiam raised its stake in shares of TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider's stock valued at $27,000 after purchasing an additional 75 shares during the period. Finally, BTC Capital Management Inc. raised its stake in shares of TD SYNNEX by 3.1% in the 3rd quarter. BTC Capital Management Inc. now owns 2,996 shares of the business services provider's stock valued at $491,000 after purchasing an additional 91 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total value of $1,401,900.00. Following the transaction, the director directly owned 23,537 shares of the company's stock, valued at $6,599,304.06. This represents a 17.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Gregory Jordan sold 3,225 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $189.46, for a total transaction of $611,008.50. Following the transaction, the chief financial officer directly owned 14,035 shares in the company, valued at $2,659,071.10. This represents a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,250 shares of company stock valued at $4,935,282 in the last three months. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. raised TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price target on the stock in a research note on Wednesday, May 27th. Weiss Ratings upgraded shares of TD SYNNEX from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday, June 2nd. Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Royal Bank Of Canada increased their price objective on shares of TD SYNNEX from $250.00 to $315.00 and gave the stock an "outperform" rating in a research note on Wednesday. Finally, Zacks Research downgraded shares of TD SYNNEX from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $233.10.

TD SYNNEX Stock Up 0.1%

Shares of SNX stock opened at $280.91 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. The firm's 50-day moving average is $232.97 and its 200-day moving average is $183.36. The stock has a market cap of $22.58 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.21 and a beta of 1.43. TD SYNNEX Corporation has a 52-week low of $122.96 and a 52-week high of $286.25.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.24 by $1.49. The company had revenue of $17.16 billion for the quarter, compared to analysts' expectations of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. TD SYNNEX's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 EPS. Sell-side analysts predict that TD SYNNEX Corporation will post 15.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX's dividend payout ratio is currently 15.96%.

TD SYNNEX Company Profile

TD SYNNEX NYSE: SNX is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company's core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.