Cynosure Group LLC Acquires 844 Shares of TD SYNNEX Co. (NYSE:SNX)

Cynosure Group LLC grew its holdings in shares of TD SYNNEX Co. (NYSE:SNX) by 29.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,710 shares of the business services provider’s stock after buying an additional 844 shares during the period. Cynosure Group LLC’s holdings in TD SYNNEX were worth $445,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Hancock Whitney Corp grew its stake in shares of TD SYNNEX by 57.9% in the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock valued at $1,954,000 after buying an additional 6,207 shares during the period. Wedge Capital Management L L P NC raised its position in shares of 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 purchasing an additional 5,252 shares during the period. Friedenthal Financial bought a new position in shares of TD SYNNEX in the 2nd quarter worth $967,000. ClariVest Asset Management LLC grew its position 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 purchasing an additional 16,399 shares during the period. Finally, Tidal Investments LLC increased its stake in TD SYNNEX by 55.7% during the 1st quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock valued at $1,980,000 after purchasing an additional 6,265 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insider Activity at TD SYNNEX

In other news, CFO Marshall Witt sold 5,653 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the transaction, the chief financial officer now directly owns 38,279 shares in the company, valued at $4,637,500.85. The trade was a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,645 shares of company stock valued at $8,414,329. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays raised their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Loop Capital reiterated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Finally, Barrington Research reissued an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Three 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, TD SYNNEX presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Stock Down 0.7 %

SNX stock opened at $119.77 on Thursday. TD SYNNEX Co. has a fifty-two week low of $96.93 and a fifty-two week high of $133.85. The stock has a fifty day moving average of $119.12 and a 200-day moving average of $119.65. The company has a market capitalization of $10.19 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.22 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25.

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

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.34%. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

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.