Wealth Alliance Invests $413,000 in TD SYNNEX Co. (NYSE:SNX)

Wealth Alliance acquired a new stake in TD SYNNEX Co. (NYSE:SNX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,579 shares of the business services provider’s stock, valued at approximately $413,000.

Other large investors have also bought and sold shares of the company. Mutual of America Capital Management LLC increased its stake in shares of TD SYNNEX by 30.9% in the second quarter. Mutual of America Capital Management LLC now owns 44,496 shares of the business services provider’s stock valued at $5,135,000 after buying an additional 10,508 shares during the period. Edgestream Partners L.P. increased its position in TD SYNNEX by 124.9% during the 2nd quarter. Edgestream Partners L.P. now owns 16,512 shares of the business services provider’s stock valued at $1,905,000 after purchasing an additional 9,171 shares during the period. Renaissance Technologies LLC raised its holdings in TD SYNNEX by 82.1% during the 2nd quarter. Renaissance Technologies LLC now owns 224,628 shares of the business services provider’s stock worth $25,922,000 after purchasing an additional 101,294 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TD SYNNEX by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after purchasing an additional 177,460 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in shares of TD SYNNEX by 472.4% in the 2nd quarter. WINTON GROUP Ltd now owns 111,732 shares of the business services provider’s stock valued at $12,894,000 after purchasing an additional 92,213 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at approximately $15,580,095.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,580,095.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the company’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 completion of the transaction, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,188 shares of company stock worth $3,998,655. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on SNX shares. 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 report on Wednesday, June 26th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Royal Bank of Canada raised TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $135.00 to $140.00 in a research note on Monday, July 15th. Bank of America dropped their price target on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and an average price target of $128.25.

TD SYNNEX Trading Up 2.8 %

Shares of TD SYNNEX stock opened at $118.86 on Friday. The stock has a market capitalization of $10.16 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 1.13 and a beta of 1.49. TD SYNNEX Co. has a 52 week low of $89.73 and a 52 week high of $133.85. The stock has a 50 day moving average price of $115.81 and a two-hundred day moving average price of $117.28. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business had revenue of $13.95 billion during the quarter, compared to analyst estimates of $14.12 billion. As a group, equities analysts anticipate that TD SYNNEX Co. will post 11.22 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were issued a $0.40 dividend. The ex-dividend date was Friday, July 12th. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. TD SYNNEX’s dividend payout ratio is currently 22.41%.

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.