Avantax Advisory Services Inc. Purchases 470 Shares of TD SYNNEX Corporation (NYSE:SNX)

Avantax Advisory Services Inc. increased its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 12.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,327 shares of the business services provider’s stock after acquiring an additional 470 shares during the period. Avantax Advisory Services Inc.’s holdings in TD SYNNEX were worth $450,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Brave Warrior Advisors LLC grew its position in shares of TD SYNNEX by 12.2% in the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after buying an additional 451,557 shares during the last quarter. Ninety One UK Ltd grew its position in shares of TD SYNNEX by 8.5% in the 1st quarter. Ninety One UK Ltd now owns 2,565,191 shares of the business services provider’s stock valued at $266,677,000 after buying an additional 200,628 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of TD SYNNEX by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,266,614 shares of the business services provider’s stock valued at $265,826,000 after purchasing an additional 31,404 shares in the last quarter. LSV Asset Management boosted its position in shares of TD SYNNEX by 46.9% during the 4th quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider’s stock valued at $201,235,000 after purchasing an additional 547,692 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of TD SYNNEX by 343.2% during the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock valued at $141,913,000 after purchasing an additional 937,040 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $142.10 on Thursday. The company has a market cap of $11.72 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.15 and a beta of 1.32. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $149.76. The business has a 50 day moving average price of $135.32 and a 200-day moving average price of $128.12. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.71 by $0.28. The firm had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.73 earnings per share. Equities analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. TD SYNNEX’s dividend payout ratio is 20.56%.

Analyst Upgrades and Downgrades

SNX has been the topic of several research analyst reports. Loop Capital upped their target price on TD SYNNEX from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 30th. Barclays set a $140.00 target price on TD SYNNEX in a research report on Tuesday, June 24th. Bank of America upped their target price on TD SYNNEX from $156.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 24th. Barrington Research restated an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, July 11th. Finally, Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the company an “overweight” rating in a research report on Wednesday, June 25th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.30.

Insider Transactions at TD SYNNEX

In other news, insider Alim Dhanji sold 1,257 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the sale, the insider directly owned 10,984 shares of the company’s stock, valued at $1,564,231.44. This represents a 10.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the sale, the chief financial officer directly owned 49,563 shares of the company’s stock, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,076 shares of company stock valued at $8,992,884 over the last ninety days. 1.00% of the stock is currently owned by insiders.

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.