Waverly Advisors LLC Raises Stock Position in TD SYNNEX Co. (NYSE:SNX)

Waverly Advisors LLC raised its holdings in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 77.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,724 shares of the business services provider's stock after acquiring an additional 2,061 shares during the quarter. Waverly Advisors LLC's holdings in TD SYNNEX were worth $554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC raised its position in shares of TD SYNNEX by 20.1% during the 4th 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. Proficio Capital Partners LLC bought a new stake in shares of TD SYNNEX during the 4th quarter valued at $5,158,000. JPMorgan Chase & Co. raised its position in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock valued at $361,707,000 after purchasing an additional 813,634 shares during the period. Sei Investments Co. raised its position in shares of TD SYNNEX by 25.5% during the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after purchasing an additional 14,379 shares during the period. Finally, IFP Advisors Inc raised its position in shares of TD SYNNEX by 976.6% during the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider's stock valued at $119,000 after purchasing an additional 918 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

Analysts Set New Price Targets

SNX has been the topic of several recent analyst reports. Barrington Research restated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Cfra reduced their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Barclays reduced 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. Finally, Wall Street Zen downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus target price of $137.22.

Insiders Place Their Bets

In other news, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider now directly owns 14,883 shares in the company, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the sale, the director now directly owns 65,480 shares of the company's stock, valued at $8,897,422.40. The trade was a 23.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,510 shares of company stock worth $3,241,001 in the last three months. Corporate insiders own 1.00% of the company's stock.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded down $1.46 during trading hours on Friday, reaching $120.60. The company's stock had a trading volume of 66,240 shares, compared to its average volume of 737,102. The firm has a 50 day moving average price of $112.27 and a 200-day moving average price of $123.36. TD SYNNEX Co. has a one year low of $92.23 and a one year high of $145.10. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The stock has a market cap of $10.12 billion, a P/E ratio of 15.17, a P/E/G ratio of 1.06 and a beta of 1.33.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter last year, the firm earned $2.99 earnings per share. The business's quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were paid a $0.44 dividend. 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 1.46%. TD SYNNEX's dividend payout ratio is currently 21.97%.

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.