Quantbot Technologies LP Acquires New Holdings in TD SYNNEX Co. (NYSE:SNX)

Quantbot Technologies LP acquired a new stake in TD SYNNEX Co. (NYSE:SNX - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,630 shares of the business services provider's stock, valued at approximately $2,237,000.

A number of other large investors also recently bought and sold shares of SNX. Price T Rowe Associates Inc. MD lifted its holdings in shares of TD SYNNEX by 9.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,760 shares of the business services provider's stock worth $3,706,000 after acquiring an additional 2,858 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of TD SYNNEX by 13.1% during the first quarter. Public Employees Retirement System of Ohio now owns 24,973 shares of the business services provider's stock worth $2,824,000 after buying an additional 2,889 shares during the period. Janus Henderson Group PLC grew its stake in shares of TD SYNNEX by 77.6% in the first quarter. Janus Henderson Group PLC now owns 45,837 shares of the business services provider's stock valued at $5,187,000 after buying an additional 20,024 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of TD SYNNEX by 3.5% in the first quarter. California State Teachers Retirement System now owns 58,946 shares of the business services provider's stock valued at $6,667,000 after buying an additional 1,974 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of TD SYNNEX by 55.7% in the 1st quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider's stock valued at $1,980,000 after buying an additional 6,265 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on SNX. Barclays lifted their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a research report on Friday, September 27th. StockNews.com raised TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, August 16th. Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. 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. Finally, Barrington Research reaffirmed an "outperform" rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and an average price target of $134.75.

Insider Transactions at TD SYNNEX

In related news, insider Simon Leung sold 6,249 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents 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 at this link. Also, insider Dennis Polk sold 15,689 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the transaction, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. The trade was a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock worth $8,414,329 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

TD SYNNEX Stock Performance

SNX stock traded down $0.78 during trading on Friday, hitting $118.99. The company had a trading volume of 299,448 shares, compared to its average volume of 775,380. TD SYNNEX Co. has a 1-year low of $96.93 and a 1-year high of $133.85. The firm has a 50-day moving average price of $119.22 and a 200-day moving average price of $119.65. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $10.12 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 1.21 and a beta of 1.48.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its 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. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter in the previous year, the company posted $2.71 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.40 dividend. 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 payout ratio is 20.70%.

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.