Atom Investors LP Increases Stake in TD SYNNEX Co. (NYSE:SNX)

Atom Investors LP increased its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 50.3% in the third quarter, Holdings Channel.com reports. The fund owned 43,777 shares of the business services provider’s stock after purchasing an additional 14,650 shares during the period. Atom Investors LP’s holdings in TD SYNNEX were worth $5,257,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

SNX has been the topic of a number of recent research reports. Loop Capital reaffirmed a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research note on Monday, October 7th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research 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 report on Friday, September 27th. Finally, Barclays lifted their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Trading Down 0.7 %

SNX opened at $118.99 on Monday. TD SYNNEX Co. has a one year low of $96.93 and a one year high of $133.85. 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 price-to-earnings ratio of 15.39, a P/E/G ratio of 1.20 and a beta of 1.48. The stock’s 50 day moving average price is $119.24 and its 200-day moving average price is $119.60.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The business had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. On average, equities analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

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

Insiders Place Their Bets

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. This trade represents a 10.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock worth $8,414,329 in the last three months. Corporate 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.