Victory Capital Management Inc. Grows Stake in TD SYNNEX Co. (NYSE:SNX)

Victory Capital Management Inc. increased its stake in TD SYNNEX Co. (NYSE:SNX) by 24.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 414,662 shares of the business services provider’s stock after acquiring an additional 82,670 shares during the period. Victory Capital Management Inc. owned approximately 0.49% of TD SYNNEX worth $49,793,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SNX. V Square Quantitative Management LLC bought a new stake in TD SYNNEX in the third quarter worth about $30,000. UMB Bank n.a. lifted its stake 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 purchasing an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in TD SYNNEX in the third quarter worth about $37,000. Blue Trust Inc. lifted its stake in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in TD SYNNEX by 217.5% in the second 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 last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the subject of several analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. 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 set a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, Barclays lifted 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $115.30 on Friday. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.19 and a beta of 1.48. The company’s 50 day moving average is $118.35 and its 200 day moving average is $119.70. 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 52-week low of $96.93 and a 52-week high of $133.85.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data 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. The company 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 company posted $2.71 earnings per share. On average, sell-side analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.39%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Insiders Place Their Bets

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is currently owned by insiders.

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.