Stanley Laman Group Ltd. Lowers Stock Position in TD SYNNEX Co. (NYSE:SNX)

Stanley Laman Group Ltd. reduced its position in shares of TD SYNNEX Co. (NYSE:SNX) by 1.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,699 shares of the business services provider’s stock after selling 191 shares during the quarter. Stanley Laman Group Ltd.’s holdings in TD SYNNEX were worth $2,120,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. FMR LLC grew its stake in shares of TD SYNNEX by 4.7% during the 3rd 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 during the period. Vanguard Group Inc. grew its stake in shares of TD SYNNEX by 4.0% during the 3rd 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 during the period. Pacer Advisors Inc. grew its stake in shares of TD SYNNEX by 33,158.8% during the 4th 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 during the period. AQR Capital Management LLC grew its stake in shares of TD SYNNEX by 2.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,124,694 shares of the business services provider’s stock valued at $112,312,000 after purchasing an additional 25,054 shares during the period. Finally, Causeway Capital Management LLC grew its stake in shares of TD SYNNEX by 23.0% during the 3rd 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 during the period. 84.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. 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 note on Tuesday, April 2nd. Cfra boosted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Finally, UBS Group upgraded TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $115.00 to $145.00 in a research note on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

TD SYNNEX Price Performance

NYSE SNX traded up $0.05 during trading hours on Friday, reaching $117.43. The company’s stock had a trading volume of 408,925 shares, compared to its average volume of 954,456. The firm’s 50-day moving average price is $109.12 and its 200-day moving average price is $103.28. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. TD SYNNEX Co. has a 1 year low of $86.30 and a 1 year high of $119.87. The company has a market capitalization of $10.46 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 1.10 and a beta of 1.64.

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

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 1.36%. TD SYNNEX’s payout ratio is presently 23.22%.

Insider Activity at TD SYNNEX

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

About TD SYNNEX

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.