Tower Research Capital LLC TRC Buys 2,547 Shares of TD SYNNEX Co. (NYSE:SNX)

Tower Research Capital LLC TRC raised its stake in TD SYNNEX Co. (NYSE:SNX) by 157.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,163 shares of the business services provider’s stock after purchasing an additional 2,547 shares during the quarter. Tower Research Capital LLC TRC’s holdings in TD SYNNEX were worth $488,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Arizona State Retirement System raised its position in TD SYNNEX by 0.4% during the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after purchasing an additional 78 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of TD SYNNEX by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock valued at $125,000 after buying an additional 90 shares during the period. Amundi raised its holdings in shares of TD SYNNEX by 22.3% during the fourth quarter. Amundi now owns 560 shares of the business services provider’s stock valued at $66,000 after acquiring an additional 102 shares in the last quarter. Highland Capital Management LLC lifted its stake in TD SYNNEX by 6.5% in the fourth quarter. Highland Capital Management LLC now owns 1,905 shares of the business services provider’s stock worth $223,000 after acquiring an additional 116 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in TD SYNNEX by 31.9% in the fourth quarter. Global Retirement Partners LLC now owns 480 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $135.88, for a total value of $2,717,600.00. Following the completion of the transaction, the director now directly owns 65,480 shares of the company’s stock, valued at $8,897,422.40. This trade represents a 23.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,333 shares of company stock worth $3,886,690. Insiders own 1.00% of the company’s stock.

TD SYNNEX Trading Up 0.3 %

TD SYNNEX stock opened at $111.06 on Wednesday. TD SYNNEX Co. has a 52-week low of $92.23 and a 52-week high of $145.10. The company has a market cap of $9.32 billion, a P/E ratio of 13.95, a P/E/G ratio of 1.06 and a beta of 1.36. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $117.51 and a two-hundred day simple moving average of $123.44.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The company had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $2.99 EPS. Analysts predict that TD SYNNEX Co. will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 11th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.58%. TD SYNNEX’s payout ratio is 21.97%.

Wall Street Analysts Forecast Growth

Several analysts have commented on SNX shares. Cfra lowered their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. Barrington Research restated an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday, April 11th. Royal Bank of Canada reduced their price target on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. JPMorgan Chase & Co. reduced their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Finally, UBS Group dropped their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.22.

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.