Marshall Wace LLP Increases Position in TD SYNNEX Co. (NYSE:SNX)

Marshall Wace LLP increased its stake in shares of TD SYNNEX Co. (NYSE:SNX – Get Rating) by 67.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 57,213 shares of the business services provider’s stock after buying an additional 23,044 shares during the quarter. Marshall Wace LLP owned about 0.06% of TD SYNNEX worth $4,645,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of TD SYNNEX by 31.5% in the first quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock valued at $2,085,000 after purchasing an additional 4,841 shares during the period. US Bancorp DE increased its stake in TD SYNNEX by 11.6% in the 1st quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock valued at $745,000 after buying an additional 747 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of TD SYNNEX by 7.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock worth $992,000 after acquiring an additional 677 shares during the period. Bank of Montreal Can boosted its holdings in shares of TD SYNNEX by 202.3% in the first quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock valued at $5,569,000 after acquiring an additional 35,593 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of TD SYNNEX during the first quarter worth about $1,065,000. Institutional investors and hedge funds own 84.70% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 1,082 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $110.90, for a total transaction of $119,993.80. Following the transaction, the chief financial officer now owns 50,893 shares of the company’s stock, valued at $5,644,033.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Marshall Witt sold 1,082 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $110.90, for a total transaction of $119,993.80. Following the transaction, the chief financial officer now directly owns 50,893 shares in the company, valued at $5,644,033.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Apollo Management Holdings Gp, sold 5,175,000 shares of TD SYNNEX stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $97.00, for a total value of $501,975,000.00. Following the completion of the sale, the insider now owns 37,802,877 shares of the company’s stock, valued at approximately $3,666,879,069. The disclosure for this sale can be found here. Insiders have sold 5,193,876 shares of company stock valued at $503,889,486 in the last ninety days. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

SNX has been the topic of a number of analyst reports. Barrington Research lifted their price objective on TD SYNNEX from $98.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, January 11th. Credit Suisse Group increased their price objective on TD SYNNEX from $103.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 11th. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, February 15th. Barclays began coverage on shares of TD SYNNEX in a report on Wednesday, February 15th. They issued an “equal weight” rating and a $109.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of TD SYNNEX from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday, January 11th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $122.00.

TD SYNNEX Stock Down 1.2 %

Shares of NYSE SNX opened at $90.15 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.25 and a quick ratio of 0.70. The firm’s 50-day moving average is $101.66 and its two-hundred day moving average is $96.26. TD SYNNEX Co. has a 12-month low of $78.86 and a 12-month high of $115.14. The company has a market capitalization of $8.60 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 0.84 and a beta of 1.65.

TD SYNNEX (NYSE:SNX – Get Rating) last announced its earnings results on Tuesday, January 10th. The business services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.45. TD SYNNEX had a return on equity of 14.08% and a net margin of 1.04%. The firm had revenue of $16.25 billion for the quarter, compared to analysts’ expectations of $15.78 billion. Equities analysts anticipate that TD SYNNEX Co. will post 11.67 EPS for the current fiscal year.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Friday, January 20th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.55%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, January 19th. TD SYNNEX’s dividend payout ratio is 20.65%.

TD SYNNEX Company Profile

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TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.