Cetera Investment Advisers Purchases 1,888 Shares of TD SYNNEX Corporation (NYSE:SNX)

Cetera Investment Advisers raised its position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 25.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,349 shares of the business services provider's stock after purchasing an additional 1,888 shares during the period. Cetera Investment Advisers' holdings in TD SYNNEX were worth $972,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in TD SYNNEX by 20.1% in the fourth quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock valued at $11,448,000 after purchasing an additional 16,310 shares during the period. Envestnet Asset Management Inc. increased its holdings in TD SYNNEX by 36.5% in the first quarter. Envestnet Asset Management Inc. now owns 75,778 shares of the business services provider's stock valued at $7,878,000 after purchasing an additional 20,280 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in TD SYNNEX by 3.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock valued at $754,000 after purchasing an additional 244 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in TD SYNNEX by 11.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider's stock valued at $765,000 after purchasing an additional 785 shares during the period. Finally, UMB Bank n.a. increased its holdings in TD SYNNEX by 95.8% in the first quarter. UMB Bank n.a. now owns 840 shares of the business services provider's stock valued at $87,000 after purchasing an additional 411 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 63,310 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total value of $8,624,721.30. Following the transaction, the director owned 67,515 shares in the company, valued at $9,197,568.45. This trade represents a 48.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the transaction, the chief financial officer owned 49,563 shares in the company, valued at $6,212,722.05. This represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,888 shares of company stock worth $9,115,025 over the last three months. Company insiders own 1.00% of the company's stock.

TD SYNNEX Stock Down 1.8%

Shares of SNX stock traded down $2.69 on Thursday, reaching $150.89. 613,838 shares of the company were exchanged, compared to its average volume of 525,283. The company has a market cap of $12.44 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 1.25 and a beta of 1.32. The company has a 50-day moving average of $138.53 and a 200-day moving average of $128.42. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75. TD SYNNEX Corporation has a one year low of $92.23 and a one year high of $153.70.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $0.28. The company 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 business's revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.73 EPS. Analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, July 11th. TD SYNNEX's dividend payout ratio (DPR) is currently 20.56%.

Analyst Upgrades and Downgrades

SNX has been the subject of a number of recent analyst reports. Barrington Research reiterated an "outperform" rating and set a $156.00 price target on shares of TD SYNNEX in a report on Friday, July 11th. Barclays set a $140.00 price target on TD SYNNEX in a report on Tuesday, June 24th. JPMorgan Chase & Co. increased their price target on TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Bank of America increased their price target on TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Finally, Loop Capital increased their price target on TD SYNNEX from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Monday, June 30th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $149.30.

About TD SYNNEX

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.