Victory Capital Management Inc. Sells 5,637 Shares of TD SYNNEX Corporation (NYSE:SNX)

Victory Capital Management Inc. reduced its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 319,591 shares of the business services provider's stock after selling 5,637 shares during the period. Victory Capital Management Inc. owned approximately 0.38% of TD SYNNEX worth $33,225,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. CWM LLC increased its position in shares of TD SYNNEX by 2.3% during the first quarter. CWM LLC now owns 8,806 shares of the business services provider's stock valued at $916,000 after acquiring an additional 200 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in TD SYNNEX by 0.5% in the 1st quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the business services provider's stock worth $2,194,000 after purchasing an additional 100 shares during the period. Kesler Norman & Wride LLC grew its stake in TD SYNNEX by 23.1% during the first quarter. Kesler Norman & Wride LLC now owns 7,820 shares of the business services provider's stock valued at $813,000 after acquiring an additional 1,465 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of TD SYNNEX by 0.6% in the first quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock worth $1,873,000 after purchasing an additional 100 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of TD SYNNEX by 8.6% during the 1st quarter. Cerity Partners LLC now owns 18,381 shares of the business services provider's stock valued at $1,911,000 after acquiring an additional 1,458 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company's stock.

Insider Transactions at TD SYNNEX

In other news, 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 transaction of $189,153.15. Following the transaction, the chief financial officer owned 49,563 shares in the company, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 63,310 shares of the firm's stock in a transaction on 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 owned 67,515 shares in the company, valued at approximately $9,197,568.45. This trade represents a 48.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,819 shares of company stock worth $9,143,874 over the last 90 days. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on SNX shares. Barclays set a $140.00 price objective on TD SYNNEX in a research report on Tuesday, June 24th. Royal Bank Of Canada restated an "outperform" rating and set a $145.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 25th. The Goldman Sachs Group decreased their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. Cfra cut their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $147.00.

TD SYNNEX Stock Performance

SNX traded up $1.06 during trading on Tuesday, reaching $143.76. 470,318 shares of the company were exchanged, compared to its average volume of 727,739. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The stock has a market cap of $11.86 billion, a P/E ratio of 16.79, a PEG ratio of 1.18 and a beta of 1.30. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $145.10. The firm has a 50 day moving average of $129.83 and a 200 day moving average of $126.67.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, beating the consensus estimate of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business had revenue of $14.95 billion during the quarter, compared to analyst estimates of $14.30 billion. During the same period in the prior year, the business earned $2.73 earnings per share. The business's quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that TD SYNNEX Corporation will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.22%. TD SYNNEX's payout ratio is currently 20.56%.

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.