TD SYNNEX Co. (NYSE:SNX) Shares Purchased by Ninety One SA PTY Ltd

Ninety One SA PTY Ltd raised its position in TD SYNNEX Co. (NYSE:SNX) by 95.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 43,882 shares of the business services provider’s stock after acquiring an additional 21,444 shares during the quarter. TD SYNNEX comprises approximately 1.1% of Ninety One SA PTY Ltd’s holdings, making the stock its 27th largest position. Ninety One SA PTY Ltd’s holdings in TD SYNNEX were worth $5,146,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in SNX. Bartlett & CO. Wealth Management LLC grew its holdings in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of TD SYNNEX in the third quarter worth $30,000. UMB Bank n.a. increased its position in shares of TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after acquiring an additional 144 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX in the third quarter valued at $37,000. Finally, Point72 DIFC Ltd acquired a new position in TD SYNNEX during the 3rd quarter worth $55,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Trading Up 0.6 %

Shares of TD SYNNEX stock opened at $140.10 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The company has a market capitalization of $11.86 billion, a P/E ratio of 17.60, a PEG ratio of 1.06 and a beta of 1.48. TD SYNNEX Co. has a 1 year low of $98.70 and a 1 year high of $144.18. The company’s fifty day moving average is $127.10 and its two-hundred day moving average is $120.96.

TD SYNNEX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.26%. The ex-dividend date was Friday, January 24th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.40. TD SYNNEX’s payout ratio is 22.11%.

Analysts Set New Price Targets

SNX has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Wednesday, January 15th. JPMorgan Chase & Co. raised their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. Barclays upped their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.38.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at $5,858,089.06. This represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,289 shares of company stock valued at $3,639,500 in the last ninety days. Insiders own 1.90% of the company’s stock.

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.