Envestnet Asset Management Inc. Increases Holdings in TD SYNNEX Corporation (NYSE:SNX)

Envestnet Asset Management Inc. boosted its holdings in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 36.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,778 shares of the business services provider's stock after acquiring an additional 20,280 shares during the period. Envestnet Asset Management Inc. owned 0.09% of TD SYNNEX worth $7,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in TD SYNNEX in the fourth quarter worth $121,199,000. Nuveen Asset Management LLC raised its stake in shares of TD SYNNEX by 343.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after purchasing an additional 937,040 shares during the last quarter. LSV Asset Management grew its holdings in TD SYNNEX by 46.9% during the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock valued at $201,235,000 after purchasing an additional 547,692 shares during the period. Brave Warrior Advisors LLC boosted its stake in TD SYNNEX by 12.2% during the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock valued at $486,380,000 after buying an additional 451,557 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of TD SYNNEX in the fourth quarter worth approximately $47,094,000. Institutional investors own 84.00% of the company's stock.

Analysts Set New Price Targets

SNX has been the subject of several recent analyst reports. Cfra cut their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. The Goldman Sachs Group decreased their price target on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Loop Capital upped their target price on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Finally, JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $147.00.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 1,509 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the transaction, the chief financial officer owned 49,563 shares of the company's stock, valued at $6,212,722.05. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard T. Hume sold 63,310 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the transaction, the director directly owned 67,515 shares of the company's stock, valued at $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 have sold 67,819 shares of company stock worth $9,143,874 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded up $1.06 on Tuesday, reaching $143.76. The company's stock had a trading volume of 470,318 shares, compared to its average volume of 727,739. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $145.10. The company has a market capitalization of $11.86 billion, a P/E ratio of 16.79, a PEG ratio of 1.18 and a beta of 1.30. The stock has a 50-day moving average price of $129.83 and a 200-day moving average price of $126.67.

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 for the quarter, beating the consensus estimate of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period last year, the business posted $2.73 EPS. The company's revenue was up 7.2% on a year-over-year basis. Analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, July 11th. TD SYNNEX's dividend payout ratio is currently 20.56%.

About TD SYNNEX

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.