Susquehanna Fundamental Investments LLC Increases Position in TD SYNNEX Co. (NYSE:SNX)

Susquehanna Fundamental Investments LLC grew its holdings in TD SYNNEX Co. (NYSE:SNX) by 157.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 103,514 shares of the business services provider’s stock after acquiring an additional 63,238 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in TD SYNNEX were worth $11,946,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB raised its holdings in shares of TD SYNNEX by 38.5% in the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after buying an additional 421,908 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in TD SYNNEX by 63.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock worth $17,756,000 after purchasing an additional 64,024 shares in the last quarter. Hancock Whitney Corp raised its holdings in TD SYNNEX by 57.9% during the second quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after purchasing an additional 6,207 shares in the last quarter. Lord Abbett & CO. LLC purchased a new position in TD SYNNEX during the first quarter worth about $57,981,000. Finally, Wedge Capital Management L L P NC raised its holdings in TD SYNNEX by 20.3% during the second quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after purchasing an additional 5,252 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the sale, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. Insiders have sold 15,188 shares of company stock worth $1,685,455 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SNX. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Barclays increased their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday. Bank of America cut their price target on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. UBS Group upped their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.57.

TD SYNNEX Trading Up 0.8 %

Shares of SNX opened at $119.67 on Friday. The firm’s 50-day moving average is $116.22 and its two-hundred day moving average is $117.97. The firm has a market capitalization of $10.23 billion, a P/E ratio of 16.76, a PEG ratio of 1.18 and a beta of 1.49. TD SYNNEX Co. has a twelve month low of $89.73 and a twelve month high of $133.85. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate 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 1.14% and a return on equity of 12.32%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 earnings per share. On average, research analysts predict that TD SYNNEX Co. will post 11.22 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. TD SYNNEX’s dividend payout ratio is presently 22.41%.

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.