AE Wealth Management LLC Sells 1,158 Shares of TD SYNNEX Co. (NYSE:SNX)

AE Wealth Management LLC lowered its stake in TD SYNNEX Co. (NYSE:SNX) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,767 shares of the business services provider’s stock after selling 1,158 shares during the quarter. AE Wealth Management LLC’s holdings in TD SYNNEX were worth $1,935,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 9258 Wealth Management LLC acquired a new position in shares of TD SYNNEX during the fourth quarter valued at about $207,000. Norges Bank acquired a new position in TD SYNNEX during the 4th quarter worth approximately $79,506,000. Corient Private Wealth LLC boosted its holdings in TD SYNNEX by 139.6% in the fourth quarter. Corient Private Wealth LLC now owns 31,140 shares of the business services provider’s stock worth $3,351,000 after acquiring an additional 18,141 shares in the last quarter. Assetmark Inc. grew its stake in TD SYNNEX by 11.8% in the fourth quarter. Assetmark Inc. now owns 2,030 shares of the business services provider’s stock valued at $218,000 after acquiring an additional 214 shares during the period. Finally, Commerce Bank bought a new stake in shares of TD SYNNEX during the fourth quarter valued at approximately $588,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several research firms recently issued reports on SNX. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. UBS Group upped their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Royal Bank of Canada upgraded TD SYNNEX from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $135.00 to $140.00 in a research note on Monday, July 15th. Bank of America lowered their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.25.

TD SYNNEX Stock Performance

Shares of SNX opened at $118.58 on Tuesday. TD SYNNEX Co. has a 12 month low of $89.73 and a 12 month high of $133.85. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.13 and a beta of 1.49. The stock has a 50 day moving average of $116.11 and a 200 day moving average of $117.65. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47.

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

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.