Dynamic Technology Lab Private Ltd Acquires 9,340 Shares of TD SYNNEX Corporation $SNX

Dynamic Technology Lab Private Ltd increased its holdings in TD SYNNEX Corporation (NYSE:SNX) by 136.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,170 shares of the business services provider’s stock after purchasing an additional 9,340 shares during the period. TD SYNNEX makes up about 0.6% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 12th largest position. Dynamic Technology Lab Private Ltd’s holdings in TD SYNNEX were worth $2,429,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SNX. Ossiam increased its position in TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Dorato Capital Management bought a new stake in TD SYNNEX in the fourth quarter worth $27,000. Measured Wealth Private Client Group LLC bought a new stake in TD SYNNEX in the third quarter worth $30,000. Lloyd Advisory Services LLC. bought a new stake in TD SYNNEX in the fourth quarter worth $32,000. Finally, Brown Brothers Harriman & Co. increased its position in TD SYNNEX by 675.9% during the third quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 196 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Activity

In other news, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the completion of the sale, the director directly owned 23,537 shares of the company’s stock, valued at approximately $6,599,304.06. The trade was a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Miriam Anne Murphy sold 3,025 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the sale, the insider directly owned 10,820 shares of the company’s stock, valued at $2,165,514.80. This represents a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 21,250 shares of company stock valued at $4,935,282. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SNX. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Barclays boosted their price objective on shares of TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Weiss Ratings upgraded shares of TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday, June 2nd. Zacks Research cut shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, UBS Group boosted their price objective on shares of TD SYNNEX from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $233.10.

TD SYNNEX Stock Up 1.4%

Shares of SNX opened at $280.91 on Friday. The firm has a market capitalization of $22.58 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.20 and a beta of 1.43. TD SYNNEX Corporation has a 12-month low of $122.96 and a 12-month high of $286.25. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The firm has a fifty day moving average price of $232.97 and a 200-day moving average price of $183.13.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $1.49. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.80 earnings per share. Equities research analysts expect that TD SYNNEX Corporation will post 15.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s payout ratio is currently 15.96%.

TD SYNNEX Profile

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.