Cerity Partners LLC Buys 5,691 Shares of TD SYNNEX Co. (NYSE:SNX)

Cerity Partners LLC increased its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 51.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,792 shares of the business services provider’s stock after buying an additional 5,691 shares during the period. Cerity Partners LLC’s holdings in TD SYNNEX were worth $2,016,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SNX. V Square Quantitative Management LLC acquired a new position in shares of TD SYNNEX in the third quarter valued at approximately $30,000. UMB Bank n.a. increased its position in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX during the third quarter worth $37,000. Blue Trust Inc. boosted its position in shares of TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 123 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of TD SYNNEX by 217.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 311 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SNX. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Barrington Research reissued an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Loop Capital reaffirmed a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Barclays increased their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

Insider Activity

In related news, insider Dennis Polk sold 15,689 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ann F. Vezina sold 1,937 shares of TD SYNNEX 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 transaction, the director now directly owns 5,695 shares in the company, valued at $689,721.45. The trade was a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock valued at $8,414,329 over the last quarter. 1.90% of the stock is owned by company insiders.

TD SYNNEX Trading Down 0.7 %

Shares of TD SYNNEX stock opened at $118.99 on Monday. The firm’s 50 day moving average is $119.24 and its 200 day moving average is $119.60. The firm has a market capitalization of $10.12 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. TD SYNNEX Co. has a 1 year low of $96.93 and a 1 year high of $133.85. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter in the previous year, the firm posted $2.71 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

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.