Stanley Laman Group Ltd. Trims Stake in TD SYNNEX Co. (NYSE:SNX)

Stanley Laman Group Ltd. lowered its holdings in TD SYNNEX Co. (NYSE:SNX) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,699 shares of the business services provider’s stock after selling 191 shares during the quarter. Stanley Laman Group Ltd.’s holdings in TD SYNNEX were worth $2,120,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gladius Capital Management LP raised its position in TD SYNNEX by 50.8% in the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 250 shares during the period. Signaturefd LLC grew its stake in shares of TD SYNNEX by 28.9% in the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after buying an additional 214 shares in the last quarter. CWM LLC grew its stake in shares of TD SYNNEX by 193.1% in the third quarter. CWM LLC now owns 1,102 shares of the business services provider’s stock valued at $110,000 after buying an additional 726 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of TD SYNNEX by 19.2% in the third quarter. Fifth Third Bancorp now owns 1,444 shares of the business services provider’s stock valued at $144,000 after buying an additional 233 shares in the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of TD SYNNEX in the third quarter valued at $202,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SNX. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. JPMorgan Chase & Co. boosted their target price on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, April 1st. Barrington Research boosted their target price on TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. Bank of America boosted their target price on TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Finally, Barclays boosted their target price on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

Insider Activity at TD SYNNEX

In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares in the company, valued at $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares in the company, valued at $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

TD SYNNEX Price Performance

TD SYNNEX stock traded up $0.05 during mid-day trading on Friday, hitting $117.43. 408,925 shares of the company were exchanged, compared to its average volume of 954,456. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75. The business’s 50 day simple moving average is $109.12 and its two-hundred day simple moving average is $103.28. The company has a market capitalization of $10.46 billion, a P/E ratio of 17.04, a PEG ratio of 1.10 and a beta of 1.64. TD SYNNEX Co. has a 12-month low of $86.30 and a 12-month high of $119.87.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. Analysts forecast that TD SYNNEX Co. will post 11.38 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s payout ratio is currently 23.22%.

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.