XTX Topco Ltd raised its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 808.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,200 shares of the business services provider's stock after acquiring an additional 14,416 shares during the period. XTX Topco Ltd's holdings in TD SYNNEX were worth $1,684,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. LPL Financial LLC increased its position in shares of TD SYNNEX by 6.0% during the first quarter. LPL Financial LLC now owns 16,615 shares of the business services provider's stock valued at $1,727,000 after acquiring an additional 935 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TD SYNNEX by 7.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,404 shares of the business services provider's stock valued at $2,121,000 after acquiring an additional 1,430 shares during the last quarter. HB Wealth Management LLC increased its position in shares of TD SYNNEX by 17.5% during the first quarter. HB Wealth Management LLC now owns 2,800 shares of the business services provider's stock valued at $291,000 after acquiring an additional 418 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of TD SYNNEX in the first quarter valued at approximately $1,540,000. Finally, Cetera Investment Advisers boosted its stake in shares of TD SYNNEX by 25.3% in the first quarter. Cetera Investment Advisers now owns 9,349 shares of the business services provider's stock valued at $972,000 after purchasing an additional 1,888 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
SNX has been the subject of several recent research reports. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Royal Bank Of Canada reissued an "outperform" rating and issued a $145.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 25th. Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. raised their price objective on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Barrington Research reissued an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday, July 11th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX presently has an average rating of "Moderate Buy" and an average target price of $149.30.
Get Our Latest Stock Report on TD SYNNEX
TD SYNNEX Stock Down 2.3%
Shares of TD SYNNEX stock opened at $144.28 on Friday. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $149.76. The company has a 50 day moving average of $133.82 and a 200 day moving average of $127.98. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $11.90 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.20 and a beta of 1.30.
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 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 quarter in the previous year, the firm earned $2.73 earnings per share. As a group, research analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.
TD SYNNEX Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, July 11th. TD SYNNEX's payout ratio is currently 20.56%.
Insider Transactions at TD SYNNEX
In other news, insider Alim Dhanji sold 1,257 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the sale, the insider owned 10,984 shares in the company, valued at approximately $1,564,231.44. The trade was a 10.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 63,310 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the sale, the director owned 67,515 shares of the company's stock, valued at $9,197,568.45. This represents a 48.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,076 shares of company stock worth $8,992,884. 1.00% of the stock is currently owned by insiders.
About TD SYNNEX
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding SNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TD SYNNEX Corporation (NYSE:SNX - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider TD SYNNEX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TD SYNNEX wasn't on the list.
While TD SYNNEX currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
