Credit Suisse AG Has $5.04 Million Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Credit Suisse AG lifted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,082 shares of the business services provider’s stock after buying an additional 1,892 shares during the period. Credit Suisse AG owned about 0.06% of TD SYNNEX worth $5,041,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of SNX. CoreCap Advisors LLC bought a new position in TD SYNNEX in the 4th quarter valued at $33,000. Dark Forest Capital Management LP bought a new stake in shares of TD SYNNEX during the 4th quarter valued at $38,000. Advisors Asset Management Inc. purchased a new stake in shares of TD SYNNEX in the first quarter worth about $51,000. Ronald Blue Trust Inc. boosted its holdings in TD SYNNEX by 61.4% in the 1st quarter. Ronald Blue Trust Inc. now owns 707 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 269 shares during the period. Finally, Covestor Ltd grew its position in TD SYNNEX by 91.5% during the first quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock worth $72,000 after buying an additional 333 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Stock Up 1.0 %

SNX opened at $101.83 on Wednesday. The firm has a 50 day moving average price of $97.41 and a 200-day moving average price of $94.50. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.14 and a beta of 1.62. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a twelve month low of $78.86 and a twelve month high of $111.57.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, June 27th. The business services provider reported $2.43 EPS for the quarter, missing analysts’ consensus estimates of $2.55 by ($0.12). TD SYNNEX had a return on equity of 13.25% and a net margin of 1.10%. The company had revenue of $14.06 billion during the quarter, compared to analysts’ expectations of $14.42 billion. During the same quarter in the previous year, the company earned $2.66 EPS. The business’s quarterly revenue was down 7.9% compared to the same quarter last year. Equities research analysts forecast that TD SYNNEX Co. will post 10.46 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $1.40 dividend on an annualized basis and a yield of 1.37%. TD SYNNEX’s dividend payout ratio is presently 19.94%.

Analyst Ratings Changes

A number of research firms have weighed in on SNX. StockNews.com started coverage on TD SYNNEX in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays cut their price objective on TD SYNNEX from $103.00 to $98.00 in a research report on Wednesday, June 28th. Barrington Research decreased their price target on shares of TD SYNNEX from $120.00 to $115.00 in a research note on Wednesday, June 28th. Bank of America decreased their price objective on TD SYNNEX from $120.00 to $115.00 in a report on Wednesday, June 28th. Finally, Royal Bank of Canada lowered their target price on shares of TD SYNNEX from $98.00 to $97.00 in a report on Monday, July 10th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $108.27.

Insider Buying and Selling

In other TD SYNNEX news, CEO Richard T. Hume sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $91.83, for a total transaction of $1,377,450.00. Following the completion of the transaction, the chief executive officer now owns 193,150 shares in the company, valued at approximately $17,736,964.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder Apollo Management Holdings Gp, sold 2,300,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $94.50, for a total transaction of $217,350,000.00. Following the completion of the transaction, the insider now owns 35,499,882 shares in the company, valued at approximately $3,354,738,849. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard T. Hume sold 15,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $91.83, for a total transaction of $1,377,450.00. Following the sale, the chief executive officer now directly owns 193,150 shares of the company’s stock, valued at $17,736,964.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,355,287 shares of company stock worth $222,563,007. 1.70% of the stock is owned by 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.