GW&K Investment Management LLC Grows Stake in TD SYNNEX Corporation (NYSE:SNX)

GW&K Investment Management LLC increased its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 2.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor 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 0.18% of TD SYNNEX worth $15,699,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SNX. Bessemer Group Inc. lifted its holdings in TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Versant Capital Management Inc lifted its holdings in TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after purchasing an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in TD SYNNEX in the 1st quarter worth about $44,000. State of Wyoming increased its stake in TD SYNNEX by 51.9% in the 4th quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after acquiring an additional 203 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in TD SYNNEX by 16.8% in the 1st quarter. GAMMA Investing LLC now owns 750 shares of the business services provider's stock worth $78,000 after acquiring an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Buying and Selling

In related news, insider Miriam Anne Murphy sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider directly owned 14,883 shares in the company, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer owned 49,563 shares of the company's stock, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,076 shares of company stock valued at $9,322,884 in the last 90 days. 1.00% of the stock is owned by insiders.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded up $0.82 during trading on Friday, hitting $146.71. 676,696 shares of the stock traded hands, compared to its average volume of 695,784. The firm's fifty day moving average is $131.88 and its 200-day moving average is $127.44. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $147.18. The stock has a market cap of $12.10 billion, a price-to-earnings 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 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. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The business had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period last year, the company earned $2.73 EPS. TD SYNNEX's revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Loop Capital upped their target price on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, June 30th. JPMorgan Chase & Co. upped their target price on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Barclays set a $140.00 target price on TD SYNNEX in a research note on Tuesday, June 24th. Finally, Barrington Research restated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, July 11th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, TD SYNNEX has an average rating of "Moderate Buy" and a consensus target price of $149.30.

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.