Sei Investments Co. Acquires 19,826 Shares of TD SYNNEX Co. (NYSE:SNX)

Sei Investments Co. raised its holdings in TD SYNNEX Co. (NYSE:SNX) by 208.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,334 shares of the business services provider’s stock after buying an additional 19,826 shares during the period. Sei Investments Co.’s holdings in TD SYNNEX were worth $3,385,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. lifted its stake in shares of TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after buying an additional 140 shares during the last quarter. Rise Advisors LLC acquired a new stake in TD SYNNEX during the first quarter worth approximately $32,000. Pineridge Advisors LLC bought a new stake in shares of TD SYNNEX during the fourth quarter worth approximately $33,000. Blue Trust Inc. grew its position in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of TD SYNNEX during the second quarter worth approximately $52,000. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Up 0.1 %

SNX stock opened at $116.62 on Thursday. The stock has a 50-day simple moving average of $116.25 and a two-hundred day simple moving average of $118.26. TD SYNNEX Co. has a twelve month low of $89.73 and a twelve month high of $133.85. The firm has a market capitalization of $9.97 billion, a PE ratio of 16.33, a PEG ratio of 1.19 and a beta of 1.49. The company has a quick ratio of 0.78, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $2.71 EPS. On average, equities analysts predict that TD SYNNEX Co. will post 11.22 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s payout ratio is currently 22.41%.

Insider Transactions at TD SYNNEX

In other news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the completion of the sale, the chief operating officer now directly owns 140,205 shares in the company, valued at $15,882,422.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Marshall Witt sold 11,441 shares of the company’s 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 transaction, the chief financial officer now owns 45,115 shares in the company, valued at $4,968,966.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Patrick Zammit sold 3,513 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the sale, the chief operating officer now directly owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,188 shares of company stock worth $1,685,455. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SNX has been the subject of a number of recent research reports. Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Barclays boosted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Friday, September 27th. JPMorgan Chase & Co. dropped their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.57.

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.