Envestnet Asset Management Inc. Buys 20,280 Shares of TD SYNNEX Corporation (NYSE:SNX)

Envestnet Asset Management Inc. raised its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 36.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,778 shares of the business services provider's stock after buying an additional 20,280 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of TD SYNNEX worth $7,878,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in TD SYNNEX by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock valued at $901,323,000 after buying an additional 29,659 shares during the period. FMR LLC increased its holdings in TD SYNNEX by 3.2% in the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock valued at $898,738,000 after buying an additional 237,587 shares during the period. Brave Warrior Advisors LLC increased its holdings in TD SYNNEX by 12.2% in the 4th 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 period. JPMorgan Chase & Co. increased its holdings in TD SYNNEX by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider's stock valued at $391,188,000 after buying an additional 323,282 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of TD SYNNEX by 1.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider's stock valued at $265,826,000 after purchasing an additional 31,404 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNX has been the topic of a number of research analyst reports. The Goldman Sachs Group reduced their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Barrington Research restated an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, July 11th. JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Morgan Stanley set a $155.00 price target on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.30.

TD SYNNEX Trading Up 0.6%

NYSE:SNX traded up $0.82 during mid-day trading on Friday, hitting $146.71. 676,696 shares of the company's stock were exchanged, compared to its average volume of 695,784. The company has a 50 day simple moving average of $131.88 and a 200-day simple moving average of $127.44. 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 Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $147.18. The firm has a market capitalization of $12.10 billion, a P/E ratio of 17.14, a PEG ratio of 1.19 and a beta of 1.30.

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

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a $0.44 dividend. The ex-dividend date of this dividend is 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 currently 20.56%.

Insider Activity

In other news, insider Alim Dhanji sold 1,257 shares of the business'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 value of $179,009.37. Following the transaction, the insider owned 10,984 shares in the company, valued at approximately $1,564,231.44. The trade was a 10.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 63,310 shares of the business'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 completion of the transaction, the director owned 67,515 shares in the company, valued at $9,197,568.45. This trade represents a 48.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,076 shares of company stock worth $9,322,884 over the last quarter. Company insiders own 1.00% of the company's stock.

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.