TD SYNNEX Corporation $SNX Shares Acquired by Ninety One SA Pty Ltd

Key Points

• Ninety One SA Pty Ltd increased its stake in TD SYNNEX by 89.7% during Q4, buying 24,405 shares to hold 51,605 shares worth about $7.75 million (≈0.06% of the company).
• TD SYNNEX posted a strong quarter with EPS of $4.73 versus $3.24 expected and revenue of $17.16 billion (up 18.1% year-over-year), beating analyst estimates on both metrics.
• Insiders have sold significant stock (82,165 shares worth ~$13.56M over 90 days) while the company declared a quarterly dividend of $0.48 (annualized yield ~0.9%); analysts hold a consensus "Moderate Buy" with an average target of $186.50.

Ninety One SA Pty Ltd lifted its stake in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 89.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,605 shares of the business services provider's stock after buying an additional 24,405 shares during the period. Ninety One SA Pty Ltd owned approximately 0.06% of TD SYNNEX worth $7,753,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ossiam boosted its stake in TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider's stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Dorato Capital Management acquired a new stake in shares of TD SYNNEX during the fourth quarter worth about $27,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $30,000. Brown Brothers Harriman & Co. lifted its holdings in shares of 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. Finally, Root Financial Partners LLC acquired a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $42,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Up 2.8%

Shares of SNX stock opened at $214.72 on Friday. The business's 50 day moving average is $169.54 and its two-hundred day moving average is $159.33. TD SYNNEX Corporation has a twelve month low of $102.16 and a twelve month high of $215.01. The company has a market capitalization of $17.26 billion, a P/E ratio of 17.85, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The business had revenue of $17.16 billion for the quarter, compared to analyst estimates of $15.59 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The company's revenue for the quarter was up 18.1% compared to the same quarter last year. Equities analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 0.9%. TD SYNNEX's dividend payout ratio is presently 15.96%.

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 25,000 shares of the business's stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $160.67, for a total transaction of $4,016,750.00. Following the transaction, the director directly owned 47,515 shares in the company, valued at $7,634,235.05. The trade was a 34.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Patrick Zammit sold 13,900 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $171.57, for a total transaction of $2,384,823.00. Following the transaction, the chief executive officer directly owned 170,928 shares of the company's stock, valued at $29,326,116.96. This represents a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,165 shares of company stock worth $13,559,368 in the last 90 days. Corporate insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SNX. The Goldman Sachs Group raised their price target on TD SYNNEX from $180.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Morgan Stanley raised their target price on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a research report on Friday, March 20th. Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Royal Bank Of Canada raised their price objective on shares of TD SYNNEX from $180.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 1st. Finally, UBS Group lifted their price objective on shares of TD SYNNEX from $187.00 to $193.00 and gave the company a "buy" rating in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $186.50.

TD SYNNEX 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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