TD SYNNEX Co. (NYSE:SNX) Shares Sold by Versor Investments LP

Versor Investments LP reduced its position in shares of TD SYNNEX Co. (NYSE:SNX) by 68.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,540 shares of the business services provider’s stock after selling 7,805 shares during the period. Versor Investments LP’s holdings in TD SYNNEX were worth $409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SNX. Vanguard Group Inc. boosted its position in shares of TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after purchasing an additional 1,261,474 shares in the last quarter. Ninety One UK Ltd boosted its holdings in TD SYNNEX by 131.0% during the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after buying an additional 777,924 shares in the last quarter. Norges Bank acquired a new position in TD SYNNEX in the fourth quarter worth approximately $79,506,000. Lind Value II ApS bought a new position in shares of TD SYNNEX in the first quarter valued at $77,858,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of TD SYNNEX during the 1st quarter valued at $57,981,000. 84.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,580,095.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. Insiders sold 35,071 shares of company stock valued at $3,985,182 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Bank of America decreased their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. UBS Group boosted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. decreased their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Wednesday, June 26th. Finally, Royal Bank of Canada upgraded shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $135.00 to $140.00 in a research report on Monday, July 15th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus price target of $127.33.

TD SYNNEX Stock Down 0.2 %

Shares of TD SYNNEX stock opened at $115.46 on Thursday. The stock has a 50-day simple moving average of $115.84 and a 200-day simple moving average of $116.57. TD SYNNEX Co. has a 52-week low of $89.73 and a 52-week high of $133.85. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 16.17, a P/E/G ratio of 1.21 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, June 25th. The business services provider reported $2.61 EPS for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. On average, equities research analysts expect that TD SYNNEX Co. will post 11.22 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 1.39%. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

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.