Pathstone Holdings LLC Boosts Stake in TD SYNNEX Co. (NYSE:SNX)

Pathstone Holdings LLC lifted its holdings in TD SYNNEX Co. (NYSE:SNX) by 45.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,300 shares of the business services provider’s stock after buying an additional 5,698 shares during the quarter. Pathstone Holdings LLC’s holdings in TD SYNNEX were worth $2,197,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SNX. CANADA LIFE ASSURANCE Co boosted its stake in shares of TD SYNNEX by 10.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 31,552 shares of the business services provider’s stock valued at $3,571,000 after buying an additional 2,856 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in TD SYNNEX by 9.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 32,760 shares of the business services provider’s stock worth $3,706,000 after purchasing an additional 2,858 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in TD SYNNEX by 13.1% during the first quarter. Public Employees Retirement System of Ohio now owns 24,973 shares of the business services provider’s stock worth $2,824,000 after purchasing an additional 2,889 shares in the last quarter. Janus Henderson Group PLC boosted its position in TD SYNNEX by 77.6% during the first quarter. Janus Henderson Group PLC now owns 45,837 shares of the business services provider’s stock worth $5,187,000 after purchasing an additional 20,024 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in TD SYNNEX by 3.5% during the first quarter. California State Teachers Retirement System now owns 58,946 shares of the business services provider’s stock worth $6,667,000 after purchasing an additional 1,974 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. The trade was a 10.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,645 shares of company stock worth $8,414,329. 1.90% of the stock is currently owned by insiders.

TD SYNNEX Stock Performance

NYSE SNX opened at $120.65 on Wednesday. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. The business has a fifty day moving average of $119.03 and a 200-day moving average of $119.66. TD SYNNEX Co. has a fifty-two week low of $96.93 and a fifty-two week high of $133.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.71 earnings per share. As a group, analysts predict that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.33%. TD SYNNEX’s payout ratio is currently 20.70%.

Analyst Ratings Changes

A number of analysts have commented on SNX shares. Barclays boosted their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Loop Capital reiterated a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Barrington Research reiterated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $134.75.

TD SYNNEX Company 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.