Royce & Associates LP Increases Holdings in TD SYNNEX Corporation (NYSE:SNX)

Royce & Associates LP grew its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,129 shares of the business services provider’s stock after buying an additional 1,692 shares during the period. Royce & Associates LP’s holdings in TD SYNNEX were worth $7,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Convergence Investment Partners LLC purchased a new stake in TD SYNNEX during the 1st quarter worth about $1,010,000. Oak Thistle LLC purchased a new stake in TD SYNNEX during the 1st quarter worth about $723,000. GW&K Investment Management LLC lifted its holdings in TD SYNNEX by 2.1% during the 1st quarter. GW&K Investment Management LLC now owns 151,011 shares of the business services provider’s stock worth $15,699,000 after buying an additional 3,155 shares during the last quarter. IFP Advisors Inc lifted its holdings in TD SYNNEX by 22.6% during the 1st quarter. IFP Advisors Inc now owns 1,241 shares of the business services provider’s stock worth $129,000 after buying an additional 229 shares during the last quarter. Finally, Impact Partnership Wealth LLC purchased a new stake in TD SYNNEX during the 1st quarter worth about $257,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Up 0.6%

Shares of SNX opened at $146.71 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $12.10 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. The stock’s fifty day simple moving average is $131.88 and its 200 day simple moving average is $127.48. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $147.18.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, beating the consensus estimate of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company had revenue of $14.95 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same period last year, the company posted $2.73 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Friday, July 11th. TD SYNNEX’s payout ratio is 20.56%.

Insiders Place Their Bets

In related news, insider Alim Dhanji sold 1,257 shares of TD SYNNEX stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the transaction, the insider directly owned 10,984 shares in the company, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $136.23, for a total value of $8,624,721.30. Following the completion of the transaction, the director owned 67,515 shares of the company’s stock, valued at $9,197,568.45. This trade represents a 48.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,076 shares of company stock valued at $9,322,884 in the last three months. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SNX shares. Barrington Research reaffirmed an “outperform” rating and set a $156.00 price target on shares of TD SYNNEX in a report on Friday, July 11th. Bank of America boosted their target price on TD SYNNEX from $156.00 to $170.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank Of Canada reissued an “outperform” rating and issued a $145.00 target price on shares of TD SYNNEX in a report on Wednesday, June 25th. Loop Capital boosted their target price on TD SYNNEX from $150.00 to $160.00 and gave the company a “buy” rating in a report on Monday, June 30th. Finally, Barclays set a $140.00 target price on TD SYNNEX in a report on Tuesday, June 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.30.

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.