iSAM Funds UK Ltd Invests $500,000 in TD SYNNEX Co. (NYSE:SNX)

iSAM Funds UK Ltd purchased a new position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,165 shares of the business services provider's stock, valued at approximately $500,000.

Other large investors also recently modified their holdings of the company. iA Global Asset Management Inc. purchased a new position in shares of TD SYNNEX in the 3rd quarter valued at $9,695,000. Kovitz Investment Group Partners LLC increased its holdings in TD SYNNEX by 26.3% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,620 shares of the business services provider's stock valued at $304,000 after purchasing an additional 546 shares in the last quarter. Two Sigma Advisers LP raised its position in TD SYNNEX by 131.9% in the third quarter. Two Sigma Advisers LP now owns 127,736 shares of the business services provider's stock valued at $15,339,000 after purchasing an additional 72,650 shares during the period. State Street Corp lifted its stake in shares of TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock worth $262,943,000 after purchasing an additional 15,995 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of TD SYNNEX by 5.6% in the third quarter. Quantinno Capital Management LP now owns 15,770 shares of the business services provider's stock worth $1,894,000 after buying an additional 831 shares during the period. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SNX has been the topic of several recent research reports. Barclays boosted their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Friday, September 27th. Barrington Research reissued an "outperform" rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. StockNews.com upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Finally, Loop Capital reissued a "buy" rating and issued a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and an average price target of $134.75.

TD SYNNEX Stock Up 1.0 %

Shares of SNX traded up $1.19 during midday trading on Friday, hitting $123.23. The company had a trading volume of 449,630 shares, compared to its average volume of 487,695. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 52 week low of $97.50 and a 52 week high of $133.85. The company's 50 day moving average price is $119.65 and its 200 day moving average price is $119.48. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.15 and a beta of 1.47.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to analysts' expectations of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. TD SYNNEX's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 earnings per share. On average, equities research analysts predict that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid 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 1.30%. TD SYNNEX's payout ratio is 20.70%.

Insiders Place Their Bets

In related news, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the transaction, the director now owns 171,080 shares in the company, valued at $20,652,777.60. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,645 shares of company stock valued at $8,415,189. Company insiders own 1.90% of the company's stock.

About TD SYNNEX

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.