Paloma Partners Management Co Purchases Shares of 2,200 TD SYNNEX Co. (NYSE:SNX)

Paloma Partners Management Co bought a new position in shares of TD SYNNEX Co. (NYSE:SNX) during the third quarter, HoldingsChannel reports. The institutional investor bought 2,200 shares of the business services provider’s stock, valued at approximately $264,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc grew its stake 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 worth $313,000 after purchasing an additional 86 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of TD SYNNEX by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after buying an additional 90 shares in the last quarter. AlphaMark Advisors LLC lifted its position in shares of 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 acquiring an additional 100 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of TD SYNNEX by 11.1% during the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after acquiring an additional 106 shares in the last quarter. Finally, Atria Investments Inc raised its position in shares of 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. 84.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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 report on Friday, August 16th. Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. 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. Barclays lifted their price objective 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.75.

Insider Activity

In other news, insider Simon Leung sold 6,249 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total value of $2,414,400.00. Following the completion of the sale, the director now owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,645 shares of company stock worth $8,415,189. 1.90% of the stock is owned by corporate insiders.

TD SYNNEX Trading Down 1.3 %

TD SYNNEX stock opened at $122.04 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 12 month low of $97.13 and a 12 month high of $133.85. The company’s fifty day simple moving average is $119.51 and its 200-day simple moving average is $119.55. The stock has a market cap of $10.38 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.14 and a beta of 1.47.

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

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.31%. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

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.