Royce & Associates LP Has $9.52 Million Stock Holdings in TD SYNNEX Corporation $SNX

Key Points

• Royce & Associates LP cut its TD SYNNEX stake by 11% in the fourth quarter, leaving it with 63,366 shares valued at about $9.52 million.
• TD SYNNEX reported strong quarterly results, with EPS of $4.73 beating estimates and revenue of $17.16 billion, up 18.1% year over year.
• Insider selling has been notable, including transactions by Miriam Anne Murphy and Director Richard T. Hume, while analysts remain largely bullish with a consensus Buy rating and a $205.50 target price.

Royce & Associates LP decreased its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,366 shares of the business services provider's stock after selling 7,857 shares during the period. Royce & Associates LP owned about 0.08% of TD SYNNEX worth $9,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Ossiam lifted its stake in TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Dorato Capital Management bought a new position in TD SYNNEX in the 4th quarter valued at approximately $27,000. Measured Wealth Private Client Group LLC bought a new position in TD SYNNEX in the 3rd quarter valued at approximately $30,000. Lloyd Advisory Services LLC. bought a new position in TD SYNNEX in the 4th quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. lifted its stake in TD SYNNEX by 675.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider's stock valued at $37,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Activity

In other news, insider Miriam Anne Murphy sold 3,025 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the completion of the sale, the insider directly owned 10,820 shares in the company, valued at $2,165,514.80. This represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $229.54, for a total transaction of $1,147,700.00. Following the sale, the director owned 28,537 shares of the company's stock, valued at approximately $6,550,382.98. This trade represents a 14.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 16,417 shares of company stock valued at $3,559,726. 0.70% of the stock is owned by corporate insiders.

TD SYNNEX Price Performance

SNX stock opened at $246.33 on Friday. The company has a fifty day moving average price of $208.35 and a 200-day moving average price of $173.71. The company has a market capitalization of $19.80 billion, a P/E ratio of 20.48, a PEG ratio of 1.08 and a beta of 1.40. TD SYNNEX Corporation has a 52-week low of $118.35 and a 52-week high of $250.96. 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 (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $1.49. The firm had revenue of $17.16 billion during 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 company's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.80 earnings per share. As a group, equities analysts expect that TD SYNNEX Corporation will post 15.69 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders 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 dividend yield of 0.8%. TD SYNNEX's dividend payout ratio is 15.96%.

Analyst Ratings Changes

Several brokerages recently commented on SNX. Zacks Research raised shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 6th. UBS Group increased their price objective on shares of TD SYNNEX from $193.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. raised shares of TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price objective for the company in a research note on Wednesday. Barrington Research reissued an "outperform" rating and issued a $182.00 price objective on shares of TD SYNNEX in a research note on Friday, March 27th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of TD SYNNEX in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $205.50.

TD SYNNEX Company 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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