TD SYNNEX Co. (NYSE:SNX) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP grew its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 131.9% in the third quarter, HoldingsChannel reports. The fund owned 127,736 shares of the business services provider’s stock after buying an additional 72,650 shares during the quarter. Two Sigma Advisers LP’s holdings in TD SYNNEX were worth $15,339,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in TD SYNNEX in the third quarter valued at approximately $30,000. UMB Bank n.a. boosted its holdings in shares of TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of TD SYNNEX during the 3rd quarter valued at $37,000. Blue Trust Inc. increased its holdings in shares of TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after buying an additional 123 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of TD SYNNEX in the 2nd quarter worth $52,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Price Performance

SNX opened at $123.23 on Monday. TD SYNNEX Co. has a twelve month low of $97.50 and a twelve month high of $133.85. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.15 and a beta of 1.47. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $119.65 and a 200 day simple moving average of $119.41.

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

TD SYNNEX Announces Dividend

The firm 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital restated a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Barclays boosted 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 note on Friday, September 27th. StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a report on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $134.75.

Insider Buying and Selling at TD SYNNEX

In related news, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock valued at $8,415,189 in the last three months. Corporate insiders own 1.90% of the company’s stock.

About TD SYNNEX

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.