Quadrature Capital Ltd Acquires 29,489 Shares of TD SYNNEX Co. (NYSE:SNX)

Quadrature Capital Ltd lifted its position in TD SYNNEX Co. (NYSE:SNX) by 244.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,570 shares of the business services provider’s stock after acquiring an additional 29,489 shares during the quarter. Quadrature Capital Ltd’s holdings in TD SYNNEX were worth $4,700,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SNX. Kingswood Wealth Advisors LLC bought a new stake in shares of TD SYNNEX in the 4th quarter worth about $233,000. New Mexico Educational Retirement Board lifted its holdings in TD SYNNEX by 22.1% during the 4th quarter. New Mexico Educational Retirement Board now owns 10,502 shares of the business services provider’s stock valued at $1,130,000 after buying an additional 1,900 shares in the last quarter. State of Michigan Retirement System lifted its holdings in TD SYNNEX by 7.9% during the 4th quarter. State of Michigan Retirement System now owns 12,321 shares of the business services provider’s stock valued at $1,326,000 after buying an additional 900 shares in the last quarter. Arizona State Retirement System lifted its holdings in TD SYNNEX by 2.4% during the 4th quarter. Arizona State Retirement System now owns 15,029 shares of the business services provider’s stock valued at $1,617,000 after buying an additional 347 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in TD SYNNEX by 10.2% during the 4th quarter. Fulton Bank N.A. now owns 3,364 shares of the business services provider’s stock valued at $362,000 after buying an additional 312 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Up 1.8 %

Shares of TD SYNNEX stock traded up $2.13 on Friday, reaching $118.25. The stock had a trading volume of 611,225 shares, compared to its average volume of 861,273. The company has a 50 day moving average price of $122.66 and a 200 day moving average price of $113.81. The company has a quick ratio of 0.78, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. TD SYNNEX Co. has a 1 year low of $89.73 and a 1 year high of $133.85. The stock has a market capitalization of $10.11 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.15 and a beta of 1.52.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The firm had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. As a group, equities research analysts forecast that TD SYNNEX Co. will post 11.24 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Friday, July 12th. TD SYNNEX’s dividend payout ratio is presently 22.41%.

Insiders Place Their Bets

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,513 shares of company stock valued at $3,869,053. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNX. Royal Bank of Canada upgraded shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $135.00 to $140.00 in a report on Monday, July 15th. Bank of America decreased their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. UBS Group raised their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. cut their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Finally, Barrington Research reissued an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

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.