Allspring Global Investments Holdings LLC Purchases 238 Shares of TD SYNNEX Co. (NYSE:SNX)

Allspring Global Investments Holdings LLC increased its position in TD SYNNEX Co. (NYSE:SNX) by 3.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,101 shares of the business services provider’s stock after acquiring an additional 238 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TD SYNNEX were worth $764,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SNX. Pacer Advisors Inc. lifted its position in TD SYNNEX by 33,158.8% during the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock valued at $143,767,000 after purchasing an additional 1,331,988 shares in the last quarter. FMR LLC lifted its position in TD SYNNEX by 4.7% during the third quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock valued at $684,423,000 after purchasing an additional 307,844 shares in the last quarter. Vanguard Group Inc. lifted its position in TD SYNNEX by 4.0% during the third quarter. Vanguard Group Inc. now owns 5,008,606 shares of the business services provider’s stock valued at $500,159,000 after purchasing an additional 193,198 shares in the last quarter. Federated Hermes Inc. lifted its position in TD SYNNEX by 73.4% during the third quarter. Federated Hermes Inc. now owns 354,618 shares of the business services provider’s stock valued at $35,412,000 after purchasing an additional 150,099 shares in the last quarter. Finally, Causeway Capital Management LLC lifted its position in TD SYNNEX by 23.0% during the third quarter. Causeway Capital Management LLC now owns 778,367 shares of the business services provider’s stock valued at $77,728,000 after purchasing an additional 145,552 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. UBS Group upgraded TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Barrington Research boosted their price objective on TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Cfra boosted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research report on Tuesday, March 26th. Finally, Bank of America boosted their price objective on TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $121.82.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the sale, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the sale, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

TD SYNNEX Trading Up 1.1 %

Shares of SNX stock opened at $117.24 on Thursday. TD SYNNEX Co. has a 12-month low of $86.30 and a 12-month high of $119.87. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The stock’s 50-day moving average price is $108.48 and its 200-day moving average price is $103.05. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.64.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The firm had revenue of $13.98 billion for the quarter, compared to analysts’ expectations of $14.37 billion. Equities research analysts predict that TD SYNNEX Co. will post 11.38 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be issued a $0.40 dividend. The ex-dividend date is Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. TD SYNNEX’s dividend payout ratio (DPR) is 23.22%.

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.