TD SYNNEX Co. (NYSE:SNX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 18.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,648 shares of the business services provider’s stock after selling 1,265 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TD SYNNEX were worth $531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its holdings in TD SYNNEX by 95.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock worth $40,000 after acquiring an additional 200 shares during the period. EverSource Wealth Advisors LLC grew its holdings in TD SYNNEX by 99.1% during the first quarter. EverSource Wealth Advisors LLC now owns 436 shares of the business services provider’s stock worth $42,000 after acquiring an additional 217 shares during the period. Advisors Asset Management Inc. acquired a new position in TD SYNNEX during the first quarter worth $51,000. Covestor Ltd grew its holdings 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 acquiring an additional 333 shares during the period. Finally, Signaturefd LLC grew its holdings in TD SYNNEX by 17.8% during the first quarter. Signaturefd LLC now owns 1,057 shares of the business services provider’s stock worth $102,000 after acquiring an additional 160 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Performance

NYSE SNX opened at $93.11 on Friday. The business’s 50-day moving average price is $96.96 and its 200 day moving average price is $95.34. TD SYNNEX Co. has a twelve month low of $86.30 and a twelve month high of $111.57. The company has a market capitalization of $8.60 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 1.08 and a beta of 1.61. The company has a current ratio of 1.23, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, September 26th. The business services provider reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.31. TD SYNNEX had a return on equity of 12.95% and a net margin of 1.45%. The firm had revenue of $13.96 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the prior year, the business posted $2.69 earnings per share. The firm’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, research analysts predict that TD SYNNEX Co. will post 10.45 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, October 12th. This represents a $1.40 annualized dividend and a yield of 1.50%. TD SYNNEX’s dividend payout ratio is presently 20.11%.

Insiders Place Their Bets

In other TD SYNNEX news, major shareholder Developments Ltd Peer sold 335,652 shares of the company’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $95.51, for a total transaction of $32,058,122.52. Following the completion of the sale, the insider now directly owns 3,524,236 shares in the company, valued at $336,599,780.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TD SYNNEX news, major shareholder Developments Ltd Peer sold 335,652 shares of the company’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $95.51, for a total transaction of $32,058,122.52. Following the completion of the sale, the insider now directly owns 3,524,236 shares in the company, valued at $336,599,780.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Star Developments Ltd Silver sold 69,130 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $95.16, for a total value of $6,578,410.80. Following the completion of the sale, the insider now owns 2,064,649 shares of the company’s stock, valued at approximately $196,471,998.84. The disclosure for this sale can be found here. Insiders sold 1,224,990 shares of company stock worth $117,096,617 over the last three months. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group upped their target price on TD SYNNEX from $100.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, September 27th. Barclays upped their target price on TD SYNNEX from $98.00 to $99.00 and gave the company an “equal weight” rating in a report on Wednesday, September 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $97.00 target price on shares of TD SYNNEX in a report on Wednesday, September 27th. Stifel Nicolaus upped their target price on TD SYNNEX from $110.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, September 19th. Finally, StockNews.com initiated coverage on TD SYNNEX in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.27.

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.