Cynosure Group LLC Buys 844 Shares of TD SYNNEX Co. (NYSE:SNX)

Cynosure Group LLC increased its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 29.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,710 shares of the business services provider’s stock after acquiring an additional 844 shares during the period. Cynosure Group LLC’s holdings in TD SYNNEX were worth $445,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SNX. FMR LLC boosted its holdings in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after buying an additional 1,154,651 shares during the last quarter. Pacer Advisors Inc. grew its holdings in TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after purchasing an additional 1,006,569 shares during the period. Dimensional Fund Advisors LP increased its position in TD SYNNEX by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after buying an additional 177,460 shares during the last quarter. AQR Capital Management LLC raised its stake in TD SYNNEX by 21.1% in the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after buying an additional 269,759 shares during the period. Finally, Ninety One UK Ltd lifted its position in shares of TD SYNNEX by 131.0% in the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after buying an additional 777,924 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on SNX. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Barclays lifted their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, September 27th. Loop Capital reaffirmed a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a report on Friday, September 27th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $119.77 on Thursday. TD SYNNEX Co. has a 52 week low of $96.93 and a 52 week high of $133.85. 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 stock has a fifty day moving average of $119.12 and a 200-day moving average of $119.65. The stock has a market capitalization of $10.19 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48.

TD SYNNEX (NYSE:SNX) last issued its earnings results 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 firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter last year, the business posted $2.71 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.34%. TD SYNNEX’s dividend payout ratio is presently 20.70%.

Insider Activity

In related news, Director Ann F. Vezina sold 1,937 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the sale, the director now owns 5,695 shares of the company’s stock, valued at $689,721.45. The trade was a 25.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is currently owned by corporate 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.