Pineridge Advisors LLC Makes New $33,000 Investment in TD SYNNEX Co. (NYSE:SNX)

Pineridge Advisors LLC purchased a new stake in shares of TD SYNNEX Co. (NYSE:SNX) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 305 shares of the business services provider’s stock, valued at approximately $33,000.

Other large investors have also added to or reduced their stakes in the company. Gladius Capital Management LP lifted its stake in shares of TD SYNNEX by 50.8% in the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after acquiring an additional 250 shares during the period. Shelton Capital Management acquired a new stake in TD SYNNEX during the 3rd quarter worth about $207,000. 9258 Wealth Management LLC bought a new position in shares of TD SYNNEX in the 4th quarter worth about $207,000. Journey Advisory Group LLC bought a new stake in shares of TD SYNNEX during the 3rd quarter valued at about $208,000. Finally, TFO Wealth Partners LLC grew its stake in TD SYNNEX by 66,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 2,007 shares of the business services provider’s stock worth $216,000 after purchasing an additional 2,004 shares during the period. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SNX shares. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their target price for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Barclays lifted their price target on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Bank of America upped their price objective on TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Cfra increased their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $123.36.

Insiders Place Their Bets

In other news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the sale, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

NYSE SNX traded up $0.02 during trading hours on Friday, reaching $129.95. 412,280 shares of the stock traded hands, compared to its average volume of 612,288. The stock has a 50 day simple moving average of $122.54 and a two-hundred day simple moving average of $110.86. TD SYNNEX Co. has a 1 year low of $87.68 and a 1 year high of $132.06. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. The company has a market cap of $11.58 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The firm had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. On average, analysts predict that TD SYNNEX Co. will post 11.38 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 1.23%. TD SYNNEX’s payout ratio is currently 23.22%.

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.