Versor Investments LP Raises Stock Holdings in TD SYNNEX Corporation $SNX

Key Points

• Versor Investments LP increased its stake in TD SYNNEX Corporation by 310.2% during the first quarter, acquiring a total of 8,537 shares valued at approximately $888,000.
• Several institutional investors also raised their positions in TD SYNNEX, including Barclays PLC, which increased its stake by 20.1%, now owning 97,617 shares worth about $11.4 million.
• The stock received multiple positive ratings from analysts, with Barclays setting a price target of $140.00 and Bank of America raising it to $170.00, indicating strong market support.

Versor Investments LP raised its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 310.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,537 shares of the business services provider's stock after buying an additional 6,456 shares during the quarter. Versor Investments LP's holdings in TD SYNNEX were worth $888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of TD SYNNEX by 15.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 55,498 shares of the business services provider's stock worth $6,508,000 after purchasing an additional 7,410 shares during the last quarter. Barclays PLC raised its stake in shares of TD SYNNEX by 20.1% during the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock worth $11,448,000 after purchasing an additional 16,310 shares during the last quarter. Mariner LLC raised its stake in shares of TD SYNNEX by 8.5% during the fourth quarter. Mariner LLC now owns 4,348 shares of the business services provider's stock worth $510,000 after purchasing an additional 342 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of TD SYNNEX by 5.5% during the fourth quarter. Guggenheim Capital LLC now owns 3,227 shares of the business services provider's stock worth $378,000 after purchasing an additional 167 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of TD SYNNEX during the fourth quarter worth approximately $962,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays set a $140.00 price target on TD SYNNEX in a research note on Tuesday, June 24th. JPMorgan Chase & Co. upped their price target on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Bank of America increased their price objective on TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Loop Capital increased their price objective on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, June 30th. Finally, Barrington Research reiterated an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $149.30.

TD SYNNEX Stock Down 0.0%

Shares of NYSE:SNX opened at $147.46 on Tuesday. The stock's 50-day moving average price is $139.44 and its two-hundred day moving average price is $128.31. 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 Corporation has a 12-month low of $92.23 and a 12-month high of $153.70. The firm has a market cap of $12.16 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 1.20 and a beta of 1.32.

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 firm had revenue of $14.95 billion for 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 firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $2.73 EPS. On average, research 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 was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX's payout ratio is currently 20.56%.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $136.23, for a total value of $8,624,721.30. Following the transaction, the director directly owned 67,515 shares of the company's stock, valued at $9,197,568.45. The trade was a 48.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ann F. Vezina sold 812 shares of TD SYNNEX stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total value of $122,141.04. Following the completion of the transaction, the director directly owned 6,079 shares in the company, valued at $914,403.18. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,888 shares of company stock valued at $9,115,025. 1.00% of the stock is currently owned by company insiders.

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.

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