Marshall Wace LLP Decreases Stock Position in TD SYNNEX Co. (NYSE:SNX)

Marshall Wace LLP cut its holdings in TD SYNNEX Co. (NYSE:SNX) by 39.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the business services provider’s stock after selling 1,300 shares during the period. Marshall Wace LLP’s holdings in TD SYNNEX were worth $231,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of 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 worth $29,000 after buying an additional 140 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of TD SYNNEX in the 1st quarter worth about $32,000. Pineridge Advisors LLC purchased a new stake in shares of TD SYNNEX in the 4th quarter worth about $33,000. Blue Trust Inc. boosted 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 in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of TD SYNNEX by 217.5% in 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. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SNX has been the subject of several analyst reports. Barclays boosted their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. cut their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price 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, UBS Group boosted their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Trading Down 0.5 %

NYSE SNX opened at $118.69 on Friday. The company has a 50-day moving average of $116.48 and a 200-day moving average of $118.91. The company has a market cap of $10.14 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.22 and a beta of 1.48. TD SYNNEX Co. has a 12 month low of $89.73 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.

TD SYNNEX (NYSE:SNX) last posted 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 firm had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 EPS. As a group, equities analysts predict that TD SYNNEX Co. will post 11.06 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 5,653 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the sale, the chief financial officer now owns 38,279 shares of the company’s stock, valued at approximately $4,637,500.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TD SYNNEX news, Director Ann F. Vezina sold 1,937 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the transaction, the director now owns 5,695 shares in the company, valued at $689,721.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 5,653 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total value of $684,860.95. Following the completion of the transaction, the chief financial officer now owns 38,279 shares of the company’s stock, valued at approximately $4,637,500.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,954 shares of company stock valued at $4,041,468. 1.90% of the stock is currently owned by corporate insiders.

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.