TD SYNNEX Corporation $SNX Shares Purchased by Metropolis Capital Ltd

Metropolis Capital Ltd lifted its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 44.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,228,603 shares of the business services provider’s stock after purchasing an additional 379,904 shares during the quarter. TD SYNNEX accounts for about 6.3% of Metropolis Capital Ltd’s portfolio, making the stock its 8th largest position. Metropolis Capital Ltd owned about 1.51% of TD SYNNEX worth $201,184,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in TD SYNNEX by 10.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider’s stock worth $1,119,340,000 after acquiring an additional 759,022 shares during the last quarter. JPMorgan Chase & Co. raised its position in TD SYNNEX by 8.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,230,059 shares of the business services provider’s stock worth $574,019,000 after purchasing an additional 330,085 shares during the last quarter. Ninety One UK Ltd lifted its stake in TD SYNNEX by 15.0% in the second quarter. Ninety One UK Ltd now owns 2,949,709 shares of the business services provider’s stock valued at $400,275,000 after buying an additional 384,518 shares during the period. Abrams Bison Investments LLC raised its position in shares of TD SYNNEX by 19.4% during the first quarter. Abrams Bison Investments LLC now owns 2,683,000 shares of the business services provider’s stock worth $278,925,000 after purchasing an additional 435,000 shares during the period. Finally, State Street Corp raised its holdings in shares of TD SYNNEX by 0.7% in the second quarter. State Street Corp now owns 2,363,709 shares of the business services provider’s stock valued at $320,755,000 after purchasing an additional 15,400 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Activity

In related news, Director Merline Saintil sold 168 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $153.38, for a total transaction of $25,767.84. Following the completion of the sale, the director owned 7,162 shares of the company’s stock, valued at $1,098,507.56. This represents a 2.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alim Dhanji sold 1,762 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $154.55, for a total transaction of $272,317.10. Following the transaction, the insider owned 13,426 shares in the company, valued at approximately $2,074,988.30. This trade represents a 11.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,939 shares of company stock valued at $2,921,338 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $153.16 on Tuesday. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $167.76. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.06 and a beta of 1.36. The firm’s 50-day moving average is $152.37 and its 200 day moving average is $148.58.

Analyst Upgrades and Downgrades

SNX has been the subject of several recent research reports. Zacks Research downgraded shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of TD SYNNEX in a research note on Wednesday, October 8th. Barrington Research boosted their price target on shares of TD SYNNEX from $156.00 to $182.00 and gave the company an “outperform” rating in a research report on Monday, September 29th. Raymond James Financial set a $175.00 price target on shares of TD SYNNEX in a research report on Thursday, September 25th. Finally, The Goldman Sachs Group lifted their price target on TD SYNNEX from $145.00 to $164.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.18.

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.