TD SYNNEX Co. (NYSE:SNX) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC trimmed its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 46.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,507 shares of the business services provider’s stock after selling 2,160 shares during the period. Verition Fund Management LLC’s holdings in TD SYNNEX were worth $301,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in TD SYNNEX in the 3rd quarter valued at approximately $30,000. UMB Bank n.a. grew its holdings in TD SYNNEX by 99.3% in the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of TD SYNNEX in the third quarter valued at $37,000. Blue Trust Inc. raised its stake in shares of TD SYNNEX by 52.3% during 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 last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of TD SYNNEX in the 2nd quarter worth about $52,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

SNX has been the subject of several recent research reports. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital reissued a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Barclays boosted their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.75.

TD SYNNEX Trading Down 1.0 %

Shares of SNX opened at $123.24 on Friday. TD SYNNEX Co. has a fifty-two week low of $98.70 and a fifty-two week high of $133.85. The company has a market capitalization of $10.49 billion, a PE ratio of 15.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. The stock has a fifty day moving average of $120.25 and a two-hundred day moving average of $119.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25.

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. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. During the same period in the prior year, the firm posted $2.71 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.30%. TD SYNNEX’s dividend payout ratio is presently 20.70%.

Insider Buying and Selling

In related news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 sale, the director now owns 5,695 shares of the company’s stock, valued at $689,721.45. This represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,645 shares of company stock valued at $8,415,189. Insiders own 1.90% of the company’s stock.

TD SYNNEX Company 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.