Assenagon Asset Management S.A. Purchases New Stake in TD SYNNEX Co. (NYSE:SNX)

Assenagon Asset Management S.A. bought a new position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 19,271 shares of the business services provider's stock, valued at approximately $2,260,000.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of TD SYNNEX in the 3rd quarter worth about $30,000. UMB Bank n.a. grew its position in 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 buying an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of TD SYNNEX during the 3rd quarter valued at $37,000. Point72 DIFC Ltd bought a new position in shares of TD SYNNEX during the 3rd quarter valued at about $55,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of TD SYNNEX in the 3rd quarter worth approximately $58,000. Institutional investors own 84.00% of the company's stock.

Insider Activity at TD SYNNEX

In related news, insider Simon Leung sold 6,249 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company's stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the sale, the chief financial officer now owns 48,362 shares of the company's stock, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,715 shares of company stock valued at $3,433,500 over the last ninety days. 1.90% of the stock is owned by company insiders.

TD SYNNEX Price Performance

SNX traded up $1.66 during trading on Thursday, hitting $143.16. 570,339 shares of the company traded hands, compared to its average volume of 772,186. The company has a market cap of $12.18 billion, a PE ratio of 17.99, a P/E/G ratio of 1.04 and a beta of 1.46. The stock's 50-day simple moving average is $122.74 and its two-hundred day simple moving average is $119.20. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 1 year low of $98.70 and a 1 year high of $143.60.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be paid a $0.44 dividend. The ex-dividend date is Friday, January 24th. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.23%. TD SYNNEX's dividend payout ratio is 20.10%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNX. Loop Capital restated a "buy" rating and set a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Royal Bank of Canada reiterated an "outperform" rating and set a $140.00 price target on shares of TD SYNNEX in a report on Wednesday, January 15th. Barclays increased their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. StockNews.com raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and a consensus price target of $144.38.

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.