Edgestream Partners L.P. Buys 32,901 Shares of TD SYNNEX Co. (NYSE:SNX)

Edgestream Partners L.P. increased its position in TD SYNNEX Co. (NYSE:SNX) by 199.3% during the 3rd quarter, Holdings Channel reports. The firm owned 49,413 shares of the business services provider’s stock after acquiring an additional 32,901 shares during the quarter. Edgestream Partners L.P.’s holdings in TD SYNNEX were worth $5,934,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after buying an additional 1,154,651 shares during the period. Pacer Advisors Inc. lifted its stake in TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after acquiring an additional 1,006,569 shares during the period. Ninety One UK Ltd grew its holdings in TD SYNNEX by 131.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after acquiring an additional 777,924 shares in the last quarter. Thrivent Financial for Lutherans increased its position in TD SYNNEX by 560.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after purchasing an additional 315,424 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after purchasing an additional 269,759 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SNX shares. Loop Capital reissued a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Barrington Research reiterated an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, Barclays increased their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $134.75.

Insider Buying and Selling

In other news, insider Dennis Polk sold 15,689 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock worth $8,414,329 in the last 90 days. Insiders own 1.90% of the company’s stock.

TD SYNNEX Trading Down 0.7 %

TD SYNNEX stock opened at $118.99 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The stock has a market cap of $10.12 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.48. The stock has a 50-day moving average of $119.22 and a two-hundred day moving average of $119.65. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. TD SYNNEX’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $2.71 EPS. On average, research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

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.