Centiva Capital LP Reduces Stock Position in TD SYNNEX Co. (NYSE:SNX)

Centiva Capital LP lowered its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 49.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,391 shares of the business services provider's stock after selling 3,321 shares during the period. Centiva Capital LP's holdings in TD SYNNEX were worth $398,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of 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. GAMMA Investing LLC grew its stake in shares of TD SYNNEX by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 642 shares of the business services provider's stock worth $75,000 after acquiring an additional 176 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of TD SYNNEX by 12.1% in the fourth quarter. Fulton Bank N.A. now owns 3,620 shares of the business services provider's stock worth $425,000 after acquiring an additional 392 shares in the last quarter. Benson Investment Management Company Inc. grew its stake in shares of TD SYNNEX by 0.6% in the fourth quarter. Benson Investment Management Company Inc. now owns 33,360 shares of the business services provider's stock worth $3,912,000 after acquiring an additional 207 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of TD SYNNEX in the fourth quarter worth $2,260,000. Institutional investors and hedge funds own 84.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group lowered their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research note on Friday, March 28th. StockNews.com downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Cfra lowered their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Barclays lowered their target price on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX has an average rating of "Moderate Buy" and an average price target of $137.22.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 65,480 shares of the company's stock, valued at $8,897,422.40. This represents a 23.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction dated Wednesday, April 30th. The stock was 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 of the company's stock, valued at $1,637,130. This represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,510 shares of company stock valued at $3,241,001. Insiders own 1.00% of the company's stock.

TD SYNNEX Stock Performance

NYSE SNX traded up $0.84 during trading hours on Friday, hitting $124.78. The company had a trading volume of 130,459 shares, compared to its average volume of 742,788. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a 1-year low of $92.23 and a 1-year high of $145.10. The company has a market cap of $10.47 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33. The business has a 50 day moving average of $113.37 and a 200-day moving average of $123.18.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the prior year, the company earned $2.99 EPS. The business's revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that TD SYNNEX Co. 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, April 25th. Stockholders of record on Friday, April 11th were issued 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 dividend yield of 1.41%. TD SYNNEX's payout ratio is 21.97%.

TD SYNNEX 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.