JPMorgan Chase & Co. Buys 813,634 Shares of TD SYNNEX Co. (NYSE:SNX)

JPMorgan Chase & Co. increased its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 37.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,012,219 shares of the business services provider’s stock after purchasing an additional 813,634 shares during the quarter. JPMorgan Chase & Co.’s holdings in TD SYNNEX were worth $361,707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNX. FMR LLC raised its holdings in TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after buying an additional 1,154,651 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of TD SYNNEX by 58.9% in the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after purchasing an additional 1,006,569 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in TD SYNNEX by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after purchasing an additional 177,460 shares during the period. State Street Corp lifted its holdings in TD SYNNEX by 0.7% in the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after buying an additional 15,995 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after buying an additional 269,759 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Analysts Set New Price Targets

SNX has been the topic of several recent analyst reports. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays upped their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, Loop Capital restated a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.75.

Insider Buying and Selling

In related news, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. The trade was a 21.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Marshall Witt sold 5,653 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total value of $684,860.95. Following the completion of the sale, the chief financial officer now owns 38,279 shares of the company’s stock, valued at approximately $4,637,500.85. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,155 shares of company stock valued at $8,598,095 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $118.32 on Monday. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.14 and a beta of 1.47. 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 stock’s 50-day simple moving average is $119.97 and its 200-day simple moving average is $118.51. TD SYNNEX Co. has a 52 week low of $98.70 and a 52 week high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $14.11 billion. During the same quarter in the prior year, the company earned $2.71 EPS. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

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.