Victory Capital Management Inc. Increases Position in TD SYNNEX Co. (NYSE:SNX)

Victory Capital Management Inc. increased its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 24.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 414,662 shares of the business services provider’s stock after buying an additional 82,670 shares during the quarter. Victory Capital Management Inc.’s holdings in TD SYNNEX were worth $49,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SNX. Sei Investments Co. lifted its position in TD SYNNEX by 73.9% during the first quarter. Sei Investments Co. now owns 9,508 shares of the business services provider’s stock valued at $1,075,000 after purchasing an additional 4,042 shares during the period. Russell Investments Group Ltd. lifted its position in TD SYNNEX by 10.5% during the first quarter. Russell Investments Group Ltd. now owns 53,205 shares of the business services provider’s stock valued at $6,018,000 after purchasing an additional 5,071 shares during the period. ProShare Advisors LLC lifted its position in TD SYNNEX by 3.2% during the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 86 shares during the period. Vanguard Group Inc. lifted its position in TD SYNNEX by 23.4% during the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after purchasing an additional 1,261,474 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in TD SYNNEX during the first quarter valued at $648,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TD SYNNEX

In other news, insider Dennis Polk sold 15,689 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total transaction of $234,590.07. Following the completion of the sale, the director now directly owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,645 shares of company stock valued at $8,414,329. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Down 0.3 %

SNX opened at $115.30 on Friday. TD SYNNEX Co. has a twelve month low of $96.93 and a twelve month high of $133.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $118.35 and a 200 day moving average price of $119.70. The company has a market cap of $9.81 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.19 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last announced 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. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter in the prior year, the company earned $2.71 EPS. TD SYNNEX’s revenue was up 5.2% compared to the same quarter last year. Sell-side analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.39%. TD SYNNEX’s dividend payout ratio is presently 20.70%.

Wall Street Analyst Weigh In

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

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.