GW&K Investment Management LLC Boosts Position in TD SYNNEX Corporation (NYSE:SNX)

GW&K Investment Management LLC boosted its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,011 shares of the business services provider's stock after purchasing an additional 3,155 shares during the period. GW&K Investment Management LLC owned about 0.18% of TD SYNNEX worth $15,699,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $121,199,000. Nuveen Asset Management LLC raised its holdings in TD SYNNEX by 343.2% during the 4th 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 period. LSV Asset Management lifted its position in shares of 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 worth $201,235,000 after acquiring an additional 547,692 shares in the last quarter. Brave Warrior Advisors LLC boosted its holdings in shares of TD SYNNEX by 12.2% in the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock worth $486,380,000 after acquiring an additional 451,557 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of TD SYNNEX in the fourth quarter valued at $47,094,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 63,310 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $136.23, for a total value of $8,624,721.30. Following the completion of the sale, the director owned 67,515 shares of the company's stock, valued at approximately $9,197,568.45. This represents a 48.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Marshall Witt sold 1,509 shares of the 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 transaction, the chief financial officer directly owned 49,563 shares in the company, valued at approximately $6,212,722.05. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,076 shares of company stock valued at $9,322,884. 1.00% of the stock is owned by insiders.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded up $0.82 on Friday, hitting $146.71. 676,696 shares of the company traded hands, compared to its average volume of 695,784. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $147.18. The firm's 50-day simple moving average is $131.88 and its 200 day simple moving average is $127.48. The company has a market cap of $12.10 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.20 and a beta of 1.30. 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 (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.28. The firm had revenue of $14.95 billion during the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.73 earnings per share. Analysts expect that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX's payout ratio is currently 20.56%.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNX. Royal Bank Of Canada restated an "outperform" rating and issued a $145.00 target price on shares of TD SYNNEX in a research note on Wednesday, June 25th. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Loop Capital upped their target price 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. 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 report on Thursday, July 17th. Finally, Barrington Research restated an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research report on Friday, July 11th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, TD SYNNEX has a consensus rating of "Moderate Buy" and a consensus target price of $149.30.

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.