Intech Investment Management LLC Takes Position in TD SYNNEX Co. (NYSE:SNX)

Intech Investment Management LLC bought a new position in TD SYNNEX Co. (NYSE:SNX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,159 shares of the business services provider’s stock, valued at approximately $1,634,000.

A number of other large investors have also added to or reduced their stakes in SNX. Benjamin F. Edwards & Company Inc. boosted its stake in shares of TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. Rise Advisors LLC purchased a new position in TD SYNNEX in the first quarter worth about $32,000. Pineridge Advisors LLC bought a new stake in shares of TD SYNNEX during the 4th quarter valued at about $33,000. Blue Trust Inc. increased its position in shares of TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of TD SYNNEX by 217.5% in the 2nd 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 period. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on SNX shares. Bank of America reduced their target price 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. Royal Bank of Canada raised TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $135.00 to $140.00 in a report on Monday, July 15th. Barrington Research reissued an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. lowered their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and an average target price of $128.25.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,188 shares of company stock worth $3,998,655. Insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $118.58 on Tuesday. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.13 and a beta of 1.49. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The stock’s 50-day simple moving average is $116.11 and its 200-day simple moving average is $117.65. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85.

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

About TD SYNNEX

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.