Commonwealth Equity Services LLC Takes $351,000 Position in TD SYNNEX Co. (NYSE:SNX)

Commonwealth Equity Services LLC purchased a new stake in TD SYNNEX Co. (NYSE:SNX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,044 shares of the business services provider’s stock, valued at approximately $351,000.

A number of other institutional investors have also made changes to their positions in SNX. Vanguard Group Inc. boosted its holdings in TD SYNNEX by 23.4% in 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 acquiring an additional 1,261,474 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of TD SYNNEX by 38.5% in the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock valued at $172,081,000 after purchasing an additional 421,908 shares during the last quarter. Ninety One UK Ltd grew its position in shares of TD SYNNEX by 131.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after buying an additional 777,924 shares during the period. Lyrical Asset Management LP raised its stake in shares of TD SYNNEX by 0.3% during the fourth quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock worth $137,513,000 after buying an additional 3,571 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in TD SYNNEX by 18.5% in the first quarter. LSV Asset Management now owns 878,474 shares of the business services provider’s stock valued at $99,355,000 after buying an additional 136,986 shares during the period. 84.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

SNX has been the subject of a number of analyst reports. Bank of America lowered 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 upgraded TD SYNNEX from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $135.00 to $140.00 in a report on Monday, July 15th. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday. Finally, UBS Group lifted their price objective 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. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.25.

TD SYNNEX Stock Performance

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

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 EPS 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%. On average, analysts expect that TD SYNNEX Co. will post 11.22 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Dennis Polk sold 20,000 shares of the 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 directly owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Thursday, June 27th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of TD SYNNEX 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 sale, 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 have sold a total of 35,188 shares of company stock worth $3,998,655 over the last three months. Corporate insiders own 1.90% of the company’s stock.

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.