Ashton Thomas Private Wealth LLC Purchases Shares of 448 TD SYNNEX Co. (NYSE:SNX)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 448 shares of the business services provider’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Benjamin F. Edwards & Company Inc. grew its stake in TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Rise Advisors LLC purchased a new stake in shares of TD SYNNEX during the first quarter worth about $32,000. Pineridge Advisors LLC acquired a new position in shares of TD SYNNEX during the 4th quarter worth about $33,000. Blue Trust Inc. lifted its stake in TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after buying an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after buying an additional 311 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SNX shares. JPMorgan Chase & Co. lowered their price target on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Royal Bank of Canada upgraded shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $135.00 to $140.00 in a research report on Monday, July 15th. UBS Group raised their price target on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Barrington Research reaffirmed an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 26th. Finally, Bank of America decreased their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $127.33.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $112.89 on Monday. The firm has a 50 day simple moving average of $115.56 and a 200-day simple moving average of $117.14. The stock has a market cap of $9.65 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 1.10 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. TD SYNNEX Co. has a 1-year low of $89.73 and a 1-year high of $133.85.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. On average, analysts expect that TD SYNNEX Co. will post 11.22 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a $0.40 dividend. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 1.42%. TD SYNNEX’s payout ratio is currently 22.41%.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the transaction, the chief operating officer now directly owns 140,205 shares in the company, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders sold a total of 35,188 shares of company stock valued at $3,998,655 over the last 90 days. 1.90% of the stock is owned by company insiders.

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.