Cookson Peirce & Co. Inc. raised its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,886 shares of the business services provider's stock after purchasing an additional 4,734 shares during the quarter. Cookson Peirce & Co. Inc. owned 0.06% of TD SYNNEX worth $4,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of SNX. LPL Financial LLC lifted its position in TD SYNNEX by 15.0% during the fourth quarter. LPL Financial LLC now owns 15,680 shares of the business services provider's stock valued at $1,839,000 after purchasing an additional 2,050 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in TD SYNNEX by 15.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 55,498 shares of the business services provider's stock valued at $6,508,000 after purchasing an additional 7,410 shares during the last quarter. Cerity Partners LLC lifted its position in TD SYNNEX by 0.8% during the fourth quarter. Cerity Partners LLC now owns 16,923 shares of the business services provider's stock valued at $2,001,000 after purchasing an additional 131 shares during the last quarter. Bank of Montreal Can lifted its position in TD SYNNEX by 12.9% during the fourth quarter. Bank of Montreal Can now owns 9,147 shares of the business services provider's stock valued at $1,073,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.
Insider Buying and Selling at TD SYNNEX
In other news, Director Ann F. Vezina sold 812 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total transaction of $122,141.04. Following the sale, the director owned 6,079 shares in the company, valued at approximately $914,403.18. The trade was a 11.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the sale, the chief financial officer owned 49,563 shares in the company, valued at approximately $6,212,722.05. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,888 shares of company stock worth $9,115,025. Corporate insiders own 1.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Barclays set a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday, June 24th. Royal Bank Of Canada reissued an "outperform" rating and set a $145.00 price target on shares of TD SYNNEX in a research note on Wednesday, June 25th. Bank of America lifted their price target on shares of TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Barrington Research reissued an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a research note on Friday, July 11th. Finally, Morgan Stanley set a $155.00 price target on shares of TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, TD SYNNEX currently has an average rating of "Moderate Buy" and an average target price of $149.30.
Read Our Latest Analysis on TD SYNNEX
TD SYNNEX Stock Performance
NYSE:SNX opened at $153.67 on Thursday. The stock has a market cap of $12.67 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 1.23 and a beta of 1.32. The firm's fifty day simple moving average is $137.94 and its 200 day simple moving average is $128.35. TD SYNNEX Corporation has a twelve month low of $92.23 and a twelve month high of $153.70. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45.
TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.28. The business had revenue of $14.95 billion for the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.73 earnings per share. As a group, research analysts predict that TD SYNNEX Corporation will post 11.88 EPS for the current year.
TD SYNNEX Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, July 11th. TD SYNNEX's payout ratio is 20.56%.
About TD SYNNEX
(
Free Report)
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.
Further Reading
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