Versor Investments LP Lowers Holdings in TD SYNNEX Co. (NYSE:SNX)

Versor Investments LP lowered its stake in TD SYNNEX Co. (NYSE:SNX) by 82.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,081 shares of the business services provider’s stock after selling 9,458 shares during the quarter. Versor Investments LP’s holdings in TD SYNNEX were worth $244,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after acquiring an additional 1,154,651 shares during the last quarter. Ninety One UK Ltd increased its position in shares of TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after purchasing an additional 1,016,251 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after buying an additional 813,634 shares during the period. Thrivent Financial for Lutherans lifted its position in TD SYNNEX by 560.0% in the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after buying an additional 315,424 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in TD SYNNEX by 325.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 347,451 shares of the business services provider’s stock worth $40,488,000 after buying an additional 265,737 shares during the period. 84.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Barclays boosted their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Royal Bank of Canada raised their price target on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and an average target price of $147.50.

Insider Buying and Selling at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ann F. Vezina sold 839 shares of the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,172 shares of company stock valued at $6,342,766. Company insiders own 1.00% of the company’s stock.

TD SYNNEX Trading Down 1.9 %

Shares of NYSE SNX opened at $132.39 on Wednesday. TD SYNNEX Co. has a twelve month low of $102.23 and a twelve month high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $135.16 and a two-hundred day simple moving average of $124.66. The firm has a market cap of $11.17 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.33%. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. TD SYNNEX’s dividend payout ratio is presently 22.11%.

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.