Victory Capital Management Inc. Buys 82,670 Shares of TD SYNNEX Co. (NYSE:SNX)

Victory Capital Management Inc. grew its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 24.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 414,662 shares of the business services provider's stock after purchasing an additional 82,670 shares during the quarter. Victory Capital Management Inc. owned about 0.49% of TD SYNNEX worth $49,793,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SNX. Vanguard Group Inc. grew its stake in TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider's stock valued at $751,143,000 after buying an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of TD SYNNEX by 58.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider's stock valued at $313,469,000 after purchasing an additional 1,006,569 shares during the period. Ninety One UK Ltd lifted its holdings in TD SYNNEX by 131.0% during the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider's stock worth $158,298,000 after purchasing an additional 777,924 shares in the last quarter. Lind Value II ApS bought a new position in TD SYNNEX in the 1st quarter worth about $77,858,000. Finally, AQR Capital Management LLC grew its holdings in TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock valued at $178,421,000 after buying an additional 269,759 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Price Performance

SNX stock traded down $0.40 during mid-day trading on Friday, hitting $115.30. 425,099 shares of the stock were exchanged, compared to its average volume of 785,736. The business has a fifty day moving average price of $118.35 and a 200 day moving average price of $119.72. TD SYNNEX Co. has a 12 month low of $96.93 and a 12 month high of $133.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.19 and a beta of 1.48.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts' consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion for the quarter, compared to analysts' expectations of $14.11 billion. During the same quarter last year, the company earned $2.71 EPS. The firm's revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, October 11th. TD SYNNEX's payout ratio is 20.70%.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 15,689 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The shares were 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 of the company's stock, valued at approximately $15,751,172.58. This trade represents a 10.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Simon Leung sold 6,249 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,645 shares of company stock worth $8,414,329. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Barrington Research reissued an "outperform" rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Barclays upped their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an "equal weight" rating in a report on Friday, September 27th. StockNews.com raised TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. Finally, Loop Capital restated a "buy" rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.75.

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.