Quantbot Technologies LP Invests $2.24 Million in TD SYNNEX Co. (NYSE:SNX)

Quantbot Technologies LP purchased a new position in TD SYNNEX Co. (NYSE:SNX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,630 shares of the business services provider’s stock, valued at approximately $2,237,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNX. V Square Quantitative Management LLC bought a new position in shares of TD SYNNEX in the 3rd quarter worth about $30,000. UMB Bank n.a. lifted its holdings in TD SYNNEX by 99.3% in the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after acquiring an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in TD SYNNEX in the third quarter valued at approximately $37,000. Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after purchasing an additional 311 shares during the period. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Price Performance

NYSE SNX opened at $119.77 on Friday. TD SYNNEX Co. has a 12 month low of $96.93 and a 12 month high of $133.85. The firm has a market capitalization of $10.19 billion, a PE ratio of 15.49, a P/E/G ratio of 1.22 and a beta of 1.48. The company’s 50 day simple moving average is $119.21 and its 200 day simple moving average is $119.65. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same period last year, the firm earned $2.71 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

Analysts Set New Price Targets

SNX has been the subject of a number of analyst reports. Loop Capital restated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Barrington Research reissued an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, Barclays raised 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 note on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 5,653 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total value of $684,860.95. Following the transaction, the chief financial officer now owns 38,279 shares in the company, valued at approximately $4,637,500.85. The trade was a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the sale, the director now owns 5,695 shares of the company’s stock, valued at $689,721.45. This trade represents a 25.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock valued at $8,414,329 in the last quarter. Insiders own 1.90% of the company’s stock.

TD SYNNEX 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.