Provident Investment Management Inc. Buys Shares of 2,751 TD SYNNEX Corporation $SNX

Provident Investment Management Inc. purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 2,751 shares of the business services provider’s stock, valued at approximately $413,000.

A number of other institutional investors also recently modified their holdings of SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in TD SYNNEX by 9.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock worth $1,749,000 after buying an additional 1,460 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in TD SYNNEX by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after acquiring an additional 9,815 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of TD SYNNEX by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after acquiring an additional 12,615 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of TD SYNNEX in the 2nd quarter worth about $818,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of TD SYNNEX by 17.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 126 shares during the period. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $233.85, for a total transaction of $1,169,250.00. Following the completion of the transaction, the director directly owned 33,537 shares in the company, valued at $7,842,627.45. This trade represents a 12.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Gregory Jordan sold 3,225 shares of the company’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $189.46, for a total transaction of $611,008.50. Following the completion of the sale, the chief financial officer owned 14,035 shares in the company, valued at $2,659,071.10. This represents a 18.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 11,417 shares of company stock worth $2,412,026. 0.70% of the stock is owned by company insiders.

TD SYNNEX Stock Performance

Shares of SNX opened at $237.42 on Tuesday. TD SYNNEX Corporation has a one year low of $118.35 and a one year high of $242.49. The company has a market cap of $19.09 billion, a PE ratio of 19.74, a P/E/G ratio of 1.04 and a beta of 1.40. The stock has a 50-day moving average of $187.88 and a 200-day moving average of $166.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the prior year, the business earned $2.80 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities research analysts predict that TD SYNNEX Corporation will post 15.69 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX’s dividend payout ratio (DPR) is presently 15.96%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SNX shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TD SYNNEX in a research note on Monday, May 4th. JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $185.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, April 16th. UBS Group increased their price target on TD SYNNEX from $193.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Finally, Barrington Research reiterated an “outperform” rating and issued a $182.00 price objective on shares of TD SYNNEX in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus target price of $197.70.

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.