Ninety One SA PTY Ltd Has $4.45 Million Position in TD SYNNEX Corporation $SNX

Ninety One SA PTY Ltd lessened its stake in TD SYNNEX Corporation (NYSE:SNX) by 39.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,200 shares of the business services provider’s stock after selling 17,529 shares during the period. Ninety One SA PTY Ltd’s holdings in TD SYNNEX were worth $4,454,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SNX. Hennessy Advisors Inc. increased its stake in shares of TD SYNNEX by 30,216.9% in the 3rd quarter. Hennessy Advisors Inc. now owns 287,404 shares of the business services provider’s stock valued at $47,062,000 after buying an additional 286,456 shares during the period. Allspring Global Investments Holdings LLC increased its position in TD SYNNEX by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 331,743 shares of the business services provider’s stock worth $54,535,000 after purchasing an additional 46,713 shares during the period. Metropolis Capital Ltd grew its position in shares of TD SYNNEX by 44.8% during the 3rd quarter. Metropolis Capital Ltd now owns 1,228,603 shares of the business services provider’s stock worth $201,184,000 after buying an additional 379,904 shares during the period. Polianta Ltd bought a new stake in shares of TD SYNNEX during the third quarter worth approximately $1,506,000. Finally, CWM LLC boosted its stake in TD SYNNEX by 22.5% in the third quarter. CWM LLC now owns 1,236 shares of the business services provider’s stock valued at $202,000 after acquiring an additional 227 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Price Performance

NYSE:SNX opened at $150.19 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.20. The stock’s 50-day simple moving average is $152.32 and its 200 day simple moving average is $148.80. The company has a market cap of $12.23 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.05 and a beta of 1.36. TD SYNNEX Corporation has a 52-week low of $92.23 and a 52-week high of $167.76.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SNX shares. Raymond James Financial set a $175.00 price target on TD SYNNEX in a research note on Thursday, September 25th. Barclays increased their price target on shares of TD SYNNEX from $140.00 to $164.00 and gave the company an “equal weight” rating in a research report on Friday, September 26th. Bank of America upped their target price on shares of TD SYNNEX from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Morgan Stanley cut their price objective on TD SYNNEX from $181.00 to $177.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Finally, The Goldman Sachs Group raised their price objective on shares of TD SYNNEX from $145.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.18.

Insider Activity

In other TD SYNNEX news, insider Alim Dhanji sold 1,762 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $154.55, for a total transaction of $272,317.10. Following the sale, the insider directly owned 13,426 shares of the company’s stock, valued at approximately $2,074,988.30. This represents a 11.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $152.11, for a total transaction of $760,550.00. Following the completion of the sale, the director directly owned 52,515 shares in the company, valued at approximately $7,988,056.65. The trade was a 8.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 18,939 shares of company stock valued at $2,921,338. 1.00% of the stock is owned by insiders.

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.