Panagora Asset Management Inc. Has $39.40 Million Stake in TD SYNNEX Corporation $SNX

Panagora Asset Management Inc. lifted its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 115.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,229 shares of the business services provider’s stock after acquiring an additional 140,719 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.33% of TD SYNNEX worth $39,395,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp lifted its holdings in TD SYNNEX by 0.4% during the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock worth $388,535,000 after buying an additional 9,024 shares during the period. Ninety One UK Ltd lifted its holdings in TD SYNNEX by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock worth $334,876,000 after buying an additional 258,630 shares during the period. LSV Asset Management lifted its holdings in TD SYNNEX by 16.1% during the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock worth $313,471,000 after buying an additional 288,625 shares during the period. Geode Capital Management LLC lifted its holdings in TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock worth $230,315,000 after buying an additional 99,090 shares during the period. Finally, Nuveen LLC lifted its holdings in TD SYNNEX by 3.8% during the 4th quarter. Nuveen LLC now owns 1,136,085 shares of the business services provider’s stock worth $170,674,000 after buying an additional 41,679 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $189.46, for a total transaction of $611,008.50. Following the completion of the sale, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. The trade was a 18.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $280.38, for a total value of $1,401,900.00. Following the completion of the transaction, the director owned 23,537 shares in the company, valued at $6,599,304.06. The trade was a 17.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,250 shares of company stock valued at $4,935,282 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank Of Canada lifted their target price on TD SYNNEX from $250.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. UBS Group lifted their target price on TD SYNNEX from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. The Goldman Sachs Group lifted their target price on TD SYNNEX from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. Barrington Research reaffirmed an “outperform” rating and set a $182.00 target price on shares of TD SYNNEX in a report on Friday, March 27th. Finally, Wall Street Zen raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Nine research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $233.10.

TD SYNNEX Stock Performance

SNX stock opened at $284.37 on Tuesday. The stock has a 50-day moving average price of $234.91 and a 200-day moving average price of $184.30. TD SYNNEX Corporation has a 1-year low of $123.28 and a 1-year high of $286.99. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The firm has a market cap of $22.86 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 1.21 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping the consensus estimate of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same period last year, the company posted $2.80 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, equities research analysts expect that TD SYNNEX Corporation will post 15.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s payout ratio is presently 15.96%.

About TD SYNNEX

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.