Dynamic Technology Lab Private Ltd Grows Position in TD SYNNEX Corporation $SNX

Dynamic Technology Lab Private Ltd increased its holdings in TD SYNNEX Corporation (NYSE:SNX) by 136.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,170 shares of the business services provider’s stock after acquiring an additional 9,340 shares during the quarter. 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.

Other hedge funds also recently added to or reduced their stakes in the company. 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 worth $27,000 after acquiring an additional 75 shares during the period. Dorato Capital Management purchased a new stake in TD SYNNEX in the fourth quarter worth about $27,000. Measured Wealth Private Client Group LLC purchased a new stake in TD SYNNEX in the third quarter worth about $30,000. Lloyd Advisory Services LLC. purchased a new stake in TD SYNNEX in the fourth quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. lifted its stake in TD SYNNEX by 675.9% in the third quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock worth $37,000 after acquiring an additional 196 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the director owned 23,537 shares in the company, valued at $6,599,304.06. This represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock in a transaction that occurred on 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 transaction, the chief financial officer owned 14,035 shares in the company, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,250 shares of company stock worth $4,935,282 over the last 90 days. 0.70% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Performance

SNX opened at $280.91 on Friday. TD SYNNEX Corporation has a 52-week low of $122.96 and a 52-week high of $286.25. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. The company has a market cap of $22.58 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 1.20 and a beta of 1.43. The firm’s 50-day moving average price is $232.97 and its 200-day moving average price is $183.13.

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

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were issued a dividend of $0.48 per share. The ex-dividend date 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 15.96%.

Analyst Upgrades and Downgrades

Several research firms have commented on SNX. JPMorgan Chase & Co. raised shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target for the company in a research report on Wednesday, May 27th. Barclays increased their price target 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. The Goldman Sachs Group increased their price target on shares of TD SYNNEX from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group increased their price target on shares of TD SYNNEX from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley increased their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.10.

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.