Highland Capital Management LLC Purchases New Stake in TD SYNNEX Co. (NYSE:SNX)

Highland Capital Management LLC purchased a new stake in TD SYNNEX Co. (NYSE:SNX) during the third quarter, HoldingsChannel.com reports. The firm purchased 1,789 shares of the business services provider’s stock, valued at approximately $215,000.

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in TD SYNNEX during the third quarter worth $30,000. UMB Bank n.a. boosted its position in TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in TD SYNNEX during the third quarter worth $37,000. Blue Trust Inc. boosted its position in TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in TD SYNNEX during the second quarter worth $52,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total transaction of $234,590.07. Following the completion of the sale, the director now directly owns 5,695 shares in the company, valued at $689,721.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other TD SYNNEX news, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares in the company, valued at $4,968,966.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann F. Vezina sold 1,937 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the sale, the director now directly owns 5,695 shares of the company’s stock, valued at $689,721.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,954 shares of company stock worth $8,918,668 over the last three months. 1.90% of the stock is owned by insiders.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $120.58 on Monday. The firm has a market capitalization of $10.30 billion, a P/E ratio of 16.89, a PEG ratio of 1.22 and a beta of 1.48. The stock has a fifty day moving average price of $118.10 and a 200 day moving average price of $119.29. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.71 earnings per share. Equities research analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.33%. TD SYNNEX’s payout ratio is currently 22.41%.

Analyst Ratings Changes

A number of research firms have commented on SNX. Barclays boosted their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Barrington Research reiterated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Loop Capital reissued a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

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.