Ninety One UK Ltd Acquires 200,628 Shares of TD SYNNEX Corporation (NYSE:SNX)

Ninety One UK Ltd increased its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 8.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,565,191 shares of the business services provider's stock after purchasing an additional 200,628 shares during the period. Ninety One UK Ltd owned 3.06% of TD SYNNEX worth $266,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in TD SYNNEX during the fourth quarter valued at approximately $121,199,000. Nuveen Asset Management LLC lifted its position in TD SYNNEX by 343.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock valued at $141,913,000 after acquiring an additional 937,040 shares during the last quarter. LSV Asset Management lifted its position 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 acquiring an additional 547,692 shares during the last quarter. Brave Warrior Advisors LLC lifted its position 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 acquiring an additional 451,557 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in TD SYNNEX during the fourth quarter valued at approximately $47,094,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Activity at TD SYNNEX

In related news, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the transaction, the chief financial officer directly owned 49,563 shares in the company, valued at $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction on Friday, June 27th. The shares were 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 directly owned 67,515 shares of the company's stock, valued at $9,197,568.45. The trade was a 48.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,819 shares of company stock worth $9,143,874 over the last three months. Company insiders own 1.00% of the company's stock.

TD SYNNEX Trading Down 0.6%

NYSE SNX opened at $139.37 on Tuesday. The company has a market capitalization of $11.49 billion, a PE ratio of 16.28, a P/E/G ratio of 1.16 and a beta of 1.30. The company has a fifty day moving average of $124.89 and a 200 day moving average of $125.17. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $145.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted 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 company had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.73 earnings per share. Research analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.26%. TD SYNNEX's dividend payout ratio is presently 20.56%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SNX shares. Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Morgan Stanley set a $155.00 target price on shares of TD SYNNEX and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Barclays set a $140.00 price target on shares of TD SYNNEX in a report on Tuesday, June 24th. Cfra decreased their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Loop Capital raised their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of "Moderate Buy" and an average target price of $142.56.

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.

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