Convergence Investment Partners LLC Acquires Shares of 9,716 TD SYNNEX Corporation (NYSE:SNX)

Convergence Investment Partners LLC purchased a new stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,716 shares of the business services provider's stock, valued at approximately $1,010,000.

Several other institutional investors also recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its position in TD SYNNEX by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock valued at $125,000 after acquiring an additional 90 shares in the last quarter. Ellevest Inc. raised its position in TD SYNNEX by 3.9% during the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock valued at $280,000 after acquiring an additional 90 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in TD SYNNEX by 1.6% during the first quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock valued at $630,000 after acquiring an additional 94 shares in the last quarter. Utah Retirement Systems raised its position in TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock valued at $481,000 after acquiring an additional 100 shares in the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of TD SYNNEX by 0.6% in the first quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock worth $1,873,000 after acquiring an additional 100 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Up 0.6%

Shares of NYSE:SNX traded up $0.82 on Friday, hitting $146.71. 676,696 shares of the company's stock were exchanged, compared to its average volume of 695,784. The firm's 50-day moving average is $131.88 and its 200 day moving average is $127.48. The company has a market capitalization of $12.10 billion, a PE ratio of 17.14, a P/E/G ratio of 1.20 and a beta of 1.30. TD SYNNEX Corporation has a 1-year low of $92.23 and a 1-year high of $147.18. 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 (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The firm had revenue of $14.95 billion during the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business's revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.73 EPS. Sell-side analysts predict that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.20%. TD SYNNEX's dividend payout ratio (DPR) is presently 20.56%.

Analyst Upgrades and Downgrades

SNX has been the topic of several research analyst reports. Loop Capital boosted their price objective on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a report on Monday, June 30th. Barclays set a $140.00 target price on TD SYNNEX in a research note on Tuesday, June 24th. JPMorgan Chase & Co. boosted their target price on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $145.00 target price on shares of TD SYNNEX in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $149.30.

Insider Transactions at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,000 shares of the company's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the insider directly owned 14,883 shares of the company's stock, valued at $1,637,130. This represents a 16.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 63,310 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $136.23, for a total value of $8,624,721.30. Following the sale, the director directly owned 67,515 shares of the company's stock, valued at approximately $9,197,568.45. This represents a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,076 shares of company stock valued at $9,322,884 in the last 90 days. Company insiders own 1.00% of the company's stock.

TD SYNNEX 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.