Atom Investors LP Has $5.26 Million Stock Position in TD SYNNEX Co. (NYSE:SNX)

Atom Investors LP grew its stake in TD SYNNEX Co. (NYSE:SNX) by 50.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,777 shares of the business services provider’s stock after purchasing an additional 14,650 shares during the quarter. Atom Investors LP owned approximately 0.05% of TD SYNNEX worth $5,257,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Paloma Partners Management Co purchased a new stake in shares of TD SYNNEX in the third quarter valued at about $264,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of TD SYNNEX during the 3rd quarter valued at approximately $203,000. Point72 Hong Kong Ltd increased its position in TD SYNNEX by 321.2% in the third quarter. Point72 Hong Kong Ltd now owns 26,593 shares of the business services provider’s stock worth $3,193,000 after buying an additional 20,280 shares during the last quarter. Edgestream Partners L.P. increased its holdings in TD SYNNEX by 199.3% in the 3rd quarter. Edgestream Partners L.P. now owns 49,413 shares of the business services provider’s stock worth $5,934,000 after acquiring an additional 32,901 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in TD SYNNEX in the 3rd quarter valued at about $2,712,000. 84.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

TD SYNNEX Trading Down 0.7 %

NYSE:SNX opened at $118.99 on Monday. The company has a market cap of $10.12 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $119.24 and a two-hundred day simple moving average of $119.60. TD SYNNEX Co. has a 12 month low of $96.93 and a 12 month high of $133.85.

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

TD SYNNEX Announces Dividend

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

Insider Activity

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares of the company’s stock, valued at $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction of $234,590.07. Following the completion of the sale, the director now directly owns 5,695 shares of the company’s stock, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock valued at $8,414,329 in the last 90 days. Company insiders own 1.90% of the company’s stock.

TD SYNNEX 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.