Silvercrest Asset Management Group LLC Sells 2,956 Shares of TD SYNNEX Co. (NYSE:SNX)

Silvercrest Asset Management Group LLC reduced its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,506 shares of the business services provider's stock after selling 2,956 shares during the period. Silvercrest Asset Management Group LLC owned 0.11% of TD SYNNEX worth $10,849,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Norges Bank purchased a new position in shares of TD SYNNEX during the fourth quarter valued at approximately $121,199,000. Ninety One UK Ltd increased its position in TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock valued at $277,316,000 after buying an additional 1,016,251 shares in the last quarter. Nuveen Asset Management LLC raised its stake in TD SYNNEX by 343.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock valued at $141,913,000 after buying an additional 937,040 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock worth $361,707,000 after acquiring an additional 813,634 shares in the last quarter. Finally, LSV Asset Management grew its stake in shares of TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock worth $201,235,000 after acquiring an additional 547,692 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barrington Research reiterated an "outperform" rating and issued a $156.00 price target on shares of TD SYNNEX in a research note on Friday, April 11th. Royal Bank of Canada decreased their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Barclays cut their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. UBS Group decreased their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, The Goldman Sachs Group cut their target price on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of "Moderate Buy" and an average price target of $137.22.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at $6,383,891.44. The trade was a 2.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Miriam Anne Murphy sold 3,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the sale, the insider now owns 14,883 shares in the company, valued at approximately $1,637,130. The trade was a 16.78% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,510 shares of company stock worth $3,241,001. Company insiders own 1.00% of the company's stock.

TD SYNNEX Stock Performance

SNX stock traded down $1.00 on Friday, hitting $121.31. The company had a trading volume of 117,993 shares, compared to its average volume of 840,714. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 12-month low of $92.23 and a 12-month high of $145.10. The stock has a market cap of $10.18 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 1.06 and a beta of 1.33. The stock's 50-day simple moving average is $112.98 and its 200 day simple moving average is $123.38.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. TD SYNNEX's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.99 earnings per share. As a group, equities research analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.45%. TD SYNNEX's dividend payout ratio is currently 21.97%.

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.