Cerity Partners LLC Boosts Stock Position in TD SYNNEX Co. (NYSE:SNX)

Cerity Partners LLC grew its holdings in TD SYNNEX Co. (NYSE:SNX) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,923 shares of the business services provider’s stock after purchasing an additional 131 shares during the period. Cerity Partners LLC’s holdings in TD SYNNEX were worth $2,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its holdings in TD SYNNEX by 3.2% during the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after buying an additional 237,587 shares in the last quarter. Aristides Capital LLC bought a new stake in TD SYNNEX during the 4th quarter valued at $330,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of TD SYNNEX in the 4th quarter worth $934,000. Lyrical Asset Management LP grew its position in shares of TD SYNNEX by 3.6% during the 4th quarter. Lyrical Asset Management LP now owns 1,288,363 shares of the business services provider’s stock worth $151,099,000 after buying an additional 44,309 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of TD SYNNEX by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock valued at $125,000 after buying an additional 90 shares during the period. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $104.58 on Thursday. TD SYNNEX Co. has a 52 week low of $92.23 and a 52 week high of $145.10. The business’s 50 day moving average price is $123.89 and its 200 day moving average price is $124.06. 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 firm has a market cap of $8.78 billion, a P/E ratio of 13.14, a P/E/G ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. During the same period last year, the company earned $2.99 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that TD SYNNEX Co. will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s payout ratio is presently 21.97%.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. 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 firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the sale, the director now owns 65,480 shares in the company, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,333 shares of company stock worth $3,886,690. Corporate insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on SNX shares. Barrington Research reiterated an “outperform” rating and set a $156.00 target price on shares of TD SYNNEX in a report on Friday, April 11th. The Goldman Sachs Group cut their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Cfra dropped their target price on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, Barclays cut their target price on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and a consensus target price of $137.22.

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.