TD SYNNEX Co. (NYSE:SNX) Position Cut by MQS Management LLC

MQS Management LLC lowered its position in shares of TD SYNNEX Co. (NYSE:SNX) by 25.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,526 shares of the business services provider’s stock after selling 853 shares during the period. MQS Management LLC’s holdings in TD SYNNEX were worth $303,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SNX. Hancock Whitney Corp increased its stake in shares of TD SYNNEX by 57.9% in the second quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 6,207 shares during the period. Wedge Capital Management L L P NC grew its stake in shares of TD SYNNEX by 20.3% in the second quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after purchasing an additional 5,252 shares in the last quarter. Friedenthal Financial acquired a new position in shares of TD SYNNEX during the second quarter valued at $967,000. ClariVest Asset Management LLC raised its stake in shares of TD SYNNEX by 45,552.8% during the second quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock valued at $1,897,000 after purchasing an additional 16,399 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in TD SYNNEX by 55.7% in the first quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock worth $1,980,000 after purchasing an additional 6,265 shares during the period. Institutional investors own 84.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SNX shares. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Loop Capital reaffirmed a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, Barclays upped their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Trading Down 2.0 %

TD SYNNEX stock opened at $115.72 on Friday. The company has a 50 day moving average price of $118.27 and a 200 day moving average price of $119.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX Co. has a 52 week low of $96.93 and a 52 week high of $133.85. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.19 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. The business had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. TD SYNNEX’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.71 earnings per share. Research analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 5,653 shares of TD SYNNEX stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total transaction 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 $4,637,500.85. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Simon Leung sold 6,249 shares of the company’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 completion of the transaction, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,645 shares of company stock valued at $8,414,329. Corporate insiders own 1.90% of the company’s stock.

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.