Allspring Global Investments Holdings LLC Decreases Stock Position in TD SYNNEX Corporation (NYSE:SNX)

Allspring Global Investments Holdings LLC trimmed its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 4.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,610 shares of the business services provider's stock after selling 13,841 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.40% of TD SYNNEX worth $34,645,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SNX. Bessemer Group Inc. raised its holdings in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after acquiring an additional 152 shares during the last quarter. Versant Capital Management Inc grew its position in TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock valued at $36,000 after buying an additional 183 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of TD SYNNEX by 196.5% in the 4th quarter. Jones Financial Companies Lllp now owns 507 shares of the business services provider's stock worth $59,000 after purchasing an additional 336 shares during the period. Amundi lifted its position in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider's stock valued at $66,000 after buying an additional 102 shares during the last quarter. Finally, State of Wyoming lifted its holdings in TD SYNNEX by 51.9% during the fourth quarter. State of Wyoming now owns 594 shares of the business services provider's stock valued at $70,000 after purchasing an additional 203 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SNX. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $145.00 price target on shares of TD SYNNEX in a report on Wednesday, June 25th. Barclays set a $140.00 target price on shares of TD SYNNEX in a research report on Tuesday, June 24th. Loop Capital lifted their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday. JPMorgan Chase & Co. dropped their target price on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, TD SYNNEX has a consensus rating of "Moderate Buy" and a consensus price target of $142.56.

TD SYNNEX Stock Up 2.6%

Shares of NYSE:SNX traded up $3.58 during midday trading on Wednesday, reaching $139.40. The company's stock had a trading volume of 1,250,304 shares, compared to its average volume of 744,508. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $145.10. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $122.51 and a 200-day moving average of $124.55. The firm has a market capitalization of $11.70 billion, a P/E ratio of 16.29, a PEG ratio of 1.12 and a beta of 1.30.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping analysts' consensus estimates of $2.71 by $0.28. The firm had revenue of $14.95 billion for the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The company's quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.73 earnings per share. On average, research analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.26%. The ex-dividend date is Friday, July 11th. TD SYNNEX's dividend payout ratio is currently 20.56%.

Insider Buying and Selling

In other news, CFO Marshall Witt sold 1,509 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer owned 49,563 shares of the company's stock, valued at $6,212,722.05. This represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction on Friday, June 27th. The stock was sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the transaction, the director owned 67,515 shares in the company, valued at $9,197,568.45. This represents a 48.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,819 shares of company stock valued at $9,143,874 over the last 90 days. Company insiders own 1.00% of the company's stock.

TD SYNNEX Company 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.