JPMorgan Chase & Co. Buys 813,634 Shares of TD SYNNEX Co. (NYSE:SNX)

JPMorgan Chase & Co. raised its position in TD SYNNEX Co. (NYSE:SNX) by 37.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,012,219 shares of the business services provider’s stock after purchasing an additional 813,634 shares during the quarter. JPMorgan Chase & Co. owned 3.54% of TD SYNNEX worth $361,707,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CIBC Asset Management Inc raised its holdings in shares of TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after acquiring an additional 90 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in TD SYNNEX by 1.3% during the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock valued at $929,000 after purchasing an additional 100 shares during the last quarter. Atria Investments Inc boosted its position in TD SYNNEX by 4.1% during the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock worth $344,000 after purchasing an additional 112 shares during the period. Finally, Meixler Investment Management Ltd. increased its holdings in shares of TD SYNNEX by 2.1% in the third quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider’s stock valued at $698,000 after purchasing an additional 120 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 5,653 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 directly owns 38,279 shares in the company, valued at approximately $4,637,500.85. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,155 shares of company stock valued at $8,598,095. Insiders own 1.90% of the company’s stock.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $118.32 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The firm’s 50-day simple moving average is $119.97 and its 200 day simple moving average is $118.51. The stock has a market cap of $10.07 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.14 and a beta of 1.47. TD SYNNEX Co. has a fifty-two week low of $98.70 and a fifty-two week high of $133.85.

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

Analyst Ratings Changes

Several research firms have recently commented on SNX. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays raised their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Loop Capital reiterated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.75.

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.