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

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

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC boosted its position in TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after acquiring an additional 1,154,651 shares during the period. Pacer Advisors Inc. lifted its position in shares of 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 purchasing an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TD SYNNEX by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after purchasing an additional 177,460 shares during the period. AQR Capital Management LLC increased its stake in 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 buying an additional 269,759 shares during the period. Finally, Ninety One UK Ltd lifted its position in TD SYNNEX by 131.0% in 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 buying an additional 777,924 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This represents a 10.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 5,653 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the sale, the chief financial officer now owns 38,279 shares in the company, valued at $4,637,500.85. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock worth $8,414,329 in the last 90 days. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

TD SYNNEX Trading Down 0.7 %

Shares of SNX stock opened at $119.77 on Friday. The business’s 50 day moving average is $119.21 and its two-hundred day moving average is $119.65. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 12 month low of $96.93 and a 12 month high of $133.85. The company has a market cap of $10.19 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating 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 net margin of 1.20% and a return on equity of 12.15%. TD SYNNEX’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $2.71 EPS. Equities analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

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

About TD SYNNEX

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.