Ascent Group LLC Invests $221,000 in TD SYNNEX Corporation $SNX

Ascent Group LLC bought a new position in TD SYNNEX Corporation (NYSE:SNX - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,627 shares of the business services provider's stock, valued at approximately $221,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNX. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in TD SYNNEX by 329.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock valued at $25,000 after purchasing an additional 188 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in TD SYNNEX during the 1st quarter valued at about $44,000. Quarry LP purchased a new stake in TD SYNNEX during the 1st quarter valued at about $51,000. SVB Wealth LLC purchased a new stake in TD SYNNEX during the 1st quarter valued at about $72,000. Finally, Smartleaf Asset Management LLC grew its position in TD SYNNEX by 19.1% during the 1st quarter. Smartleaf Asset Management LLC now owns 724 shares of the business services provider's stock valued at $76,000 after purchasing an additional 116 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ann F. Vezina sold 812 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total value of $122,141.04. Following the transaction, the director owned 6,079 shares of the company's stock, valued at approximately $914,403.18. This trade represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Marshall Witt sold 861 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $149.84, for a total transaction of $129,012.24. Following the completion of the transaction, the chief financial officer directly owned 49,777 shares in the company, valued at approximately $7,458,585.68. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,930 shares of company stock valued at $430,163. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

SNX has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of TD SYNNEX from $145.00 to $164.00 and gave the company a "buy" rating in a research report on Thursday, September 25th. Barrington Research increased their price objective 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. Barclays increased their price objective on shares of TD SYNNEX from $140.00 to $164.00 and gave the company an "equal weight" rating in a research report on Friday, September 26th. Bank of America increased their price objective on shares of TD SYNNEX from $170.00 to $180.00 and gave the company a "buy" rating in a research report on Friday, September 26th. Finally, Raymond James Financial set a $175.00 price objective on shares of TD SYNNEX in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $169.55.

TD SYNNEX Stock Performance

SNX opened at $160.90 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. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.24 and a beta of 1.43. The company's 50 day moving average is $150.90 and its 200 day moving average is $132.57. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $167.76.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, October 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. TD SYNNEX's dividend payout ratio (DPR) is presently 19.09%.

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.

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