Nisa Investment Advisors LLC Lowers Holdings in TD SYNNEX Co. (NYSE:SNX)

Nisa Investment Advisors LLC lowered its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 1.1% in the third quarter, HoldingsChannel reports. The fund owned 10,982 shares of the business services provider’s stock after selling 120 shares during the quarter. Nisa Investment Advisors LLC’s holdings in TD SYNNEX were worth $1,319,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in TD SYNNEX during the third quarter worth approximately $30,000. UMB Bank n.a. grew its stake in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth $37,000. Blue Trust Inc. raised its position in shares of TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after buying an additional 123 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in TD SYNNEX by 217.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 311 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $120.72, for a total value of $2,414,400.00. Following the sale, the director now directly owns 171,080 shares of the company’s stock, valued at $20,652,777.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,751,172.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total value of $2,414,400.00. Following the transaction, the director now directly owns 171,080 shares in the company, valued at approximately $20,652,777.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,837 shares of company stock valued at $8,904,751. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $115.50 on Monday. TD SYNNEX Co. has a 12-month low of $92.66 and a 12-month high of $133.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The firm’s fifty day moving average price is $118.07 and its 200 day moving average price is $119.45.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The business had revenue of $14.68 billion for 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 company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.71 earnings per share. On average, research analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

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.