Panagora Asset Management Inc. Boosts Stock Holdings in TD SYNNEX Corporation $SNX

Panagora Asset Management Inc. boosted its position in TD SYNNEX Corporation (NYSE:SNX) by 115.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 262,229 shares of the business services provider’s stock after purchasing an additional 140,719 shares during the period. Panagora Asset Management Inc.’s holdings in TD SYNNEX were worth $39,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC lifted its stake in TD SYNNEX by 3.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider’s stock valued at $317,000 after purchasing an additional 71 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in TD SYNNEX by 1.0% in the fourth quarter. Quadrant Capital Group LLC now owns 7,588 shares of the business services provider’s stock valued at $1,140,000 after purchasing an additional 73 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in TD SYNNEX by 10.6% in the third quarter. Jones Financial Companies Lllp now owns 775 shares of the business services provider’s stock valued at $127,000 after purchasing an additional 74 shares during the last quarter. Ossiam lifted its stake in TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in TD SYNNEX by 0.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 10,833 shares of the business services provider’s stock valued at $1,627,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SNX shares. Weiss Ratings upgraded TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, June 2nd. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price on the stock in a research report on Wednesday, May 27th. Zacks Research downgraded TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 1st. Barclays increased their target price on TD SYNNEX from $166.00 to $237.00 and gave the stock an “equal weight” rating in a research report on Friday, May 29th. Finally, The Goldman Sachs Group increased their target price on TD SYNNEX from $270.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $233.10.

TD SYNNEX Trading Up 1.3%

TD SYNNEX stock opened at $284.37 on Tuesday. The stock has a market cap of $22.86 billion, a P/E ratio of 23.64, a PEG ratio of 1.21 and a beta of 1.43. TD SYNNEX Corporation has a fifty-two week low of $123.28 and a fifty-two week high of $286.99. The firm’s fifty day moving average price is $234.91 and its 200-day moving average price is $184.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping the consensus estimate of $3.24 by $1.49. The firm had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.80 earnings per share. Equities research analysts forecast that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. TD SYNNEX’s dividend payout ratio is presently 15.96%.

Insider Transactions at TD SYNNEX

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

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.