Commerce Bank Acquires Shares of 5,466 TD SYNNEX Co. (NYSE:SNX)

Commerce Bank acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNXFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,466 shares of the business services provider’s stock, valued at approximately $588,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gladius Capital Management LP raised its stake in TD SYNNEX by 50.8% during the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after buying an additional 250 shares in the last quarter. Signaturefd LLC raised its position in shares of TD SYNNEX by 28.9% during the 3rd quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock worth $95,000 after purchasing an additional 214 shares during the period. 9258 Wealth Management LLC acquired a new stake in shares of TD SYNNEX during the 4th quarter worth approximately $207,000. Assetmark Inc. raised its position in shares of TD SYNNEX by 11.8% during the 4th quarter. Assetmark Inc. now owns 2,030 shares of the business services provider’s stock worth $218,000 after purchasing an additional 214 shares during the period. Finally, Shelton Capital Management acquired a new stake in shares of TD SYNNEX during the 3rd quarter worth approximately $207,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SNX shares. Cfra increased their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. increased their price target on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Bank of America raised their target price on TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Barclays raised their target price 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. Finally, UBS Group upgraded TD SYNNEX from a “neutral” rating to a “buy” rating and raised their target price for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

Check Out Our Latest Report on TD SYNNEX

Insider Transactions at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the completion of the sale, the chief executive officer now owns 219,363 shares in the company, valued at $25,400,041.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders sold a total of 40,000 shares of company stock valued at $4,575,600 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $130.08 on Friday. The stock has a fifty day moving average price of $118.95 and a two-hundred day moving average price of $108.36. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. The firm has a market cap of $11.59 billion, a P/E ratio of 18.88, a PEG ratio of 1.25 and a beta of 1.59. TD SYNNEX Co. has a 1 year low of $87.68 and a 1 year high of $131.09.

TD SYNNEX (NYSE:SNXGet Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.12. The firm had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. Research analysts forecast that TD SYNNEX Co. will post 11.38 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, April 11th. TD SYNNEX’s dividend payout ratio is presently 23.22%.

TD SYNNEX Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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