Duality Advisers LP Sells 852 Shares of TD SYNNEX Co. (NYSE:SNX)

Duality Advisers LP lowered its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 11.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,679 shares of the business services provider’s stock after selling 852 shares during the quarter. Duality Advisers LP’s holdings in TD SYNNEX were worth $719,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SNX. CWM LLC boosted its position in TD SYNNEX by 193.1% during the third quarter. CWM LLC now owns 1,102 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 726 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in TD SYNNEX by 10.4% in the third quarter. State of Alaska Department of Revenue now owns 5,684 shares of the business services provider’s stock worth $567,000 after acquiring an additional 535 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in TD SYNNEX by 6.1% in the third quarter. GHP Investment Advisors Inc. now owns 7,276 shares of the business services provider’s stock worth $690,000 after acquiring an additional 419 shares in the last quarter. CX Institutional acquired a new stake in TD SYNNEX in the third quarter worth about $4,855,000. Finally, Denali Advisors LLC boosted its holdings in TD SYNNEX by 14.6% in the third quarter. Denali Advisors LLC now owns 6,283 shares of the business services provider’s stock worth $627,000 after acquiring an additional 800 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.1 %

Shares of SNX stock opened at $117.24 on Thursday. The stock has a 50 day moving average of $108.48 and a 200 day moving average of $103.05. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.45 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.09 and a beta of 1.64. TD SYNNEX Co. has a twelve month low of $86.30 and a twelve month high of $119.87.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to analysts’ expectations of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. As a group, sell-side analysts expect that TD SYNNEX Co. will post 11.38 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SNX shares. Barclays raised their price target on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Barrington Research raised their price target on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Cfra raised their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. Bank of America raised their price target on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Finally, UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $115.00 to $145.00 in a report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average target price of $121.82.

Insider Activity

In other news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the sale, the chief executive officer now owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

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.