Quest Partners LLC Acquires 6,240 Shares of TD SYNNEX Co. (NYSE:SNX)

Quest Partners LLC boosted its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 619.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,248 shares of the business services provider’s stock after purchasing an additional 6,240 shares during the quarter. Quest Partners LLC’s holdings in TD SYNNEX were worth $870,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNX. Hancock Whitney Corp grew its position in TD SYNNEX by 57.9% in the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after purchasing an additional 6,207 shares during the last quarter. Wedge Capital Management L L P NC grew its position in TD SYNNEX by 20.3% during the second quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after buying an additional 5,252 shares in the last quarter. Friedenthal Financial acquired a new position in TD SYNNEX in the 2nd quarter valued at approximately $967,000. ClariVest Asset Management LLC raised its holdings in TD SYNNEX by 45,552.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock valued at $1,897,000 after acquiring an additional 16,399 shares in the last quarter. Finally, Tidal Investments LLC lifted its position in shares of TD SYNNEX by 55.7% in the 1st quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock worth $1,980,000 after acquiring an additional 6,265 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In other news, insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,645 shares of company stock worth $8,414,329. Corporate insiders own 1.90% of the company’s stock.

TD SYNNEX Stock Performance

NYSE:SNX opened at $116.55 on Friday. The stock has a market capitalization of $9.92 billion, a P/E ratio of 15.08, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48. TD SYNNEX Co. has a 1 year low of $96.93 and a 1 year high of $133.85. The firm has a 50 day moving average of $118.78 and a 200-day moving average of $119.68. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46.

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

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio is presently 20.70%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SNX shares. Barclays upped their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Barrington Research restated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. 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. Loop Capital reissued a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

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.