GW&K Investment Management LLC Has $23.40 Million Position in TD SYNNEX Corporation $SNX

Key Points

• GW&K Investment Management increased its TD SYNNEX stake by 7.6% in the fourth quarter, holding 155,734 shares valued at about $23.4 million. Institutional ownership in the stock remains high at 84%.
• TD SYNNEX reported stronger-than-expected quarterly results, with EPS of $4.73 versus the $3.24 estimate and revenue of $17.16 billion, up 18.1% year over year. Analysts now expect the company to earn 15.88 EPS for the current fiscal year.
• Wall Street sentiment is mostly positive, with nine Buy ratings and two Hold ratings, and a consensus price target of $223.60. However, some insiders have sold shares recently, including the CFO and another executive.

GW&K Investment Management LLC boosted its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,734 shares of the business services provider's stock after buying an additional 10,945 shares during the period. GW&K Investment Management LLC owned about 0.19% of TD SYNNEX worth $23,396,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in TD SYNNEX by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider's stock worth $1,749,000 after buying an additional 1,460 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in TD SYNNEX by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider's stock worth $18,631,000 after buying an additional 9,815 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in TD SYNNEX by 6.6% during the first 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 worth $21,226,000 after buying an additional 12,615 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of TD SYNNEX in the 2nd quarter valued at $818,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of TD SYNNEX by 17.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider's stock valued at $116,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SNX shares. The Goldman Sachs Group boosted their target price on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, April 2nd. Zacks Research downgraded shares of TD SYNNEX from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 1st. Royal Bank Of Canada boosted their target price on shares of TD SYNNEX from $250.00 to $315.00 and gave the company an "outperform" rating in a research note on Wednesday. Barclays boosted their target price on shares of TD SYNNEX from $166.00 to $237.00 and gave the company an "equal weight" rating in a research note on Friday, May 29th. Finally, UBS Group boosted their target price on shares of TD SYNNEX from $265.00 to $310.00 and gave the company a "buy" rating in a research note on Tuesday. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $223.60.

TD SYNNEX Stock Down 1.5%

Shares of NYSE:SNX opened at $268.84 on Thursday. The company's fifty day moving average is $228.89 and its 200-day moving average is $181.52. The company has a market capitalization of $21.61 billion, a PE ratio of 22.35, a P/E/G ratio of 1.18 and a beta of 1.43. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. 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 quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.24 by $1.49. The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The firm's quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.80 EPS. Equities research analysts predict that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

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

Insider Buying and Selling

In related news, CFO David Gregory Jordan sold 3,225 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total transaction of $611,008.50. Following the transaction, the chief financial officer owned 14,035 shares in the company, valued at $2,659,071.10. This represents a 18.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Miriam Anne Murphy sold 3,025 shares of the company's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $200.14, for a total transaction of $605,423.50. Following the transaction, the insider owned 10,820 shares in the company, valued at approximately $2,165,514.80. This trade represents a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 21,250 shares of company stock worth $4,935,282 in the last 90 days. Corporate insiders own 0.70% of the company's stock.

TD SYNNEX 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.

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