Sei Investments Co. Raises Position in TD SYNNEX Co. (NYSE:SNX)

Sei Investments Co. boosted its position in TD SYNNEX Co. (NYSE:SNX) by 25.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,745 shares of the business services provider’s stock after purchasing an additional 14,379 shares during the period. Sei Investments Co. owned about 0.08% of TD SYNNEX worth $8,297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blueshift Asset Management LLC bought a new position in shares of TD SYNNEX during the 4th quarter worth $699,000. Teacher Retirement System of Texas boosted its position in TD SYNNEX by 108.7% during the fourth quarter. Teacher Retirement System of Texas now owns 93,433 shares of the business services provider’s stock worth $10,958,000 after purchasing an additional 48,667 shares during the period. Xponance Inc. boosted its position in TD SYNNEX by 9.4% during the fourth quarter. Xponance Inc. now owns 11,123 shares of the business services provider’s stock worth $1,305,000 after purchasing an additional 956 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of TD SYNNEX by 92.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 715,603 shares of the business services provider’s stock worth $83,926,000 after purchasing an additional 343,856 shares in the last quarter. Finally, one8zero8 LLC bought a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $434,000. 84.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Barclays decreased their price objective on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. Cfra lowered their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday. Finally, UBS Group reduced their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.00.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $104.45 on Monday. TD SYNNEX Co. has a fifty-two week low of $98.00 and a fifty-two week high of $145.10. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The stock has a market cap of $8.81 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The firm’s fifty day moving average price is $135.67 and its 200-day moving average price is $125.75.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The firm had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.99 EPS. On average, equities research analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. TD SYNNEX’s dividend payout ratio (DPR) is 22.11%.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % 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, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock worth $6,353,261 in the last 90 days. 1.00% of the stock is owned by company insiders.

TD SYNNEX 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.