Renaissance Technologies LLC Has $25.92 Million Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Renaissance Technologies LLC increased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 82.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,628 shares of the business services provider’s stock after acquiring an additional 101,294 shares during the period. Renaissance Technologies LLC owned about 0.26% of TD SYNNEX worth $25,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. ProShare Advisors LLC boosted its position in TD SYNNEX by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after buying an additional 86 shares in the last quarter. Fifth Third Bancorp boosted its position in TD SYNNEX by 11.1% in the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after buying an additional 106 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in TD SYNNEX by 1.5% in the second quarter. SummerHaven Investment Management LLC now owns 7,704 shares of the business services provider’s stock valued at $889,000 after buying an additional 116 shares in the last quarter. Blue Trust Inc. boosted its position in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after buying an additional 123 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Trading Up 2.8 %

SNX opened at $118.86 on Friday. TD SYNNEX Co. has a 1-year low of $89.73 and a 1-year 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. The company has a market cap of $10.16 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. The company has a fifty day moving average price of $115.81 and a two-hundred day moving average price of $117.28.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.05). The company had revenue of $13.95 billion during the quarter, compared to the consensus estimate of $14.12 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. Analysts predict that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Friday, July 12th. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Wall Street Analyst Weigh In

SNX has been the subject of several analyst reports. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $135.00 to $140.00 in a research note on Monday, July 15th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. UBS Group lifted their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. JPMorgan Chase & Co. lowered their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, Barrington Research reissued an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and an average target price of $128.25.

Insider Activity

In related news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the transaction, the chief financial officer now directly owns 45,115 shares in the company, valued at $4,968,966.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the transaction, 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 filing with the SEC, which can be accessed through this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares in the company, valued at $4,968,966.10. The disclosure for this sale can be found here. Insiders sold 35,188 shares of company stock worth $3,998,655 over the last three months. 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.