Kovitz Investment Group Partners LLC Raises Stake in TD SYNNEX Co. (NYSE:SNX)

Kovitz Investment Group Partners LLC raised its position in shares of TD SYNNEX Co. (NYSE:SNX) by 26.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,620 shares of the business services provider’s stock after purchasing an additional 546 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in TD SYNNEX were worth $304,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of TD SYNNEX in the third quarter worth $30,000. UMB Bank n.a. lifted its holdings in shares of TD SYNNEX by 99.3% in the third 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 in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of TD SYNNEX in the third quarter worth $37,000. Blue Trust Inc. lifted its holdings 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 worth $40,000 after buying an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of TD SYNNEX in the second quarter worth $52,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Activity

In other news, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,645 shares of company stock valued at $8,415,189. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Friday, September 27th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a report on Monday, December 9th. Barclays boosted their price target on shares of 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 restated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Trading Down 1.0 %

SNX stock opened at $123.24 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a twelve month low of $98.70 and a twelve month high of $133.85. The stock has a market capitalization of $10.49 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. The firm’s fifty day simple moving average is $120.25 and its two-hundred day simple moving average is $119.33.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating 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 business 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 business posted $2.71 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is 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.