TD SYNNEX Corporation $SNX is Hennessy Advisors Inc.’s 7th Largest Position

by · The Markets Daily

Hennessy Advisors Inc. raised its stake in TD SYNNEX Corporation (NYSE:SNX – Free Report) by 30,216.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 287,404 shares of the business services provider’s stock after buying an additional 286,456 shares during the quarter. TD SYNNEX accounts for 1.6% of Hennessy Advisors Inc.’s investment portfolio, making the stock its 7th biggest holding. Hennessy Advisors Inc.’s holdings in TD SYNNEX were worth $47,062,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SNX. Norges Bank bought a new stake in shares of TD SYNNEX in the 2nd quarter valued at about $124,618,000. Metropolis Capital Ltd purchased a new stake in TD SYNNEX during the second quarter valued at approximately $115,168,000. Vanguard Group Inc. boosted its stake in TD SYNNEX by 10.1% in the second quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider’s stock valued at $1,119,340,000 after acquiring an additional 759,022 shares in the last quarter. Ninety One UK Ltd grew its holdings 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 worth $400,275,000 after purchasing an additional 384,518 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of TD SYNNEX by 8.5% during the second 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 in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Merline Saintil sold 336 shares of TD SYNNEX stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $155.79, for a total transaction of $52,345.44. Following the completion of the transaction, the director owned 7,330 shares in the company, valued at approximately $1,141,940.70. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alim Dhanji sold 1,762 shares of the business’s stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $154.55, for a total value of $272,317.10. Following the completion of the transaction, the insider directly owned 13,426 shares of the company’s stock, 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. In the last three months, insiders sold 18,939 shares of company stock worth $2,921,338. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SNX has been the subject of a number of recent analyst reports. Wall Street Zen cut TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Monday, November 3rd. Zacks Research downgraded TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. UBS Group boosted their price target on TD SYNNEX from $154.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, September 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TD SYNNEX in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group lifted their target price on shares of TD SYNNEX from $145.00 to $164.00 and gave the stock a “buy” rating in a research note on Thursday, September 25th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $169.18.

Check Out Our Latest Stock Report on TD SYNNEX

TD SYNNEX Stock Performance

SNX opened at $150.19 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $167.76. The firm has a 50 day moving average of $152.32 and a two-hundred day moving average of $148.80. The firm has a market capitalization of $12.23 billion, a PE ratio of 16.29, a P/E/G ratio of 1.05 and a beta of 1.36.

About TD SYNNEX

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TD SYNNEX Corporation (NYSE:SNX – Free Report).