Edgestream Partners L.P. Purchases 32,901 Shares of TD SYNNEX Co. (NYSE:SNX)

Edgestream Partners L.P. grew its position in TD SYNNEX Co. (NYSE:SNX) by 199.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,413 shares of the business services provider’s stock after purchasing an additional 32,901 shares during the quarter. Edgestream Partners L.P. owned approximately 0.06% of TD SYNNEX worth $5,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNX. V Square Quantitative Management LLC bought a new position in TD SYNNEX in the 3rd quarter worth $30,000. UMB Bank n.a. lifted its position in shares of TD SYNNEX by 99.3% in the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of TD SYNNEX in the third quarter worth about $37,000. Blue Trust Inc. grew its position in shares of TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 311 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $118.99 on Friday. The firm has a fifty day simple moving average of $119.22 and a two-hundred day simple moving average of $119.65. TD SYNNEX Co. has a 52 week low of $96.93 and a 52 week high of $133.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $10.12 billion, a P/E ratio of 15.39, a PEG ratio of 1.21 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. During the same quarter last year, the business posted $2.71 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.34%. TD SYNNEX’s payout ratio is presently 20.70%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. Loop Capital reaffirmed a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Barclays lifted their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Barrington Research reissued an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Buying and Selling

In related news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the sale, the director now owns 5,695 shares in the company, valued at approximately $689,721.45. The trade was a 25.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock worth $8,414,329 over the last three months. 1.90% of the stock is 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.