Martingale Asset Management L P Trims Stock Position in TD SYNNEX Co. (NYSE:SNX)

Martingale Asset Management L P decreased its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 73.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,957 shares of the business services provider's stock after selling 148,611 shares during the quarter. Martingale Asset Management L P owned 0.06% of TD SYNNEX worth $6,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. CIBC Asset Management Inc boosted its stake in shares of TD SYNNEX by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider's stock valued at $313,000 after purchasing an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of TD SYNNEX by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider's stock worth $315,000 after buying an additional 90 shares during the period. AlphaMark Advisors LLC increased its holdings in shares of TD SYNNEX by 1.3% in the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider's stock worth $929,000 after buying an additional 100 shares during the period. Fifth Third Bancorp lifted its stake in shares of TD SYNNEX by 11.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider's stock valued at $123,000 after acquiring an additional 106 shares during the last quarter. Finally, Atria Investments Inc lifted its position in TD SYNNEX by 4.1% in the third quarter. Atria Investments Inc now owns 2,862 shares of the business services provider's stock valued at $344,000 after purchasing an additional 112 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SNX has been the topic of a number of recent analyst reports. Loop Capital reissued a "buy" rating and issued a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com raised TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, August 16th. Barrington Research reaffirmed an "outperform" rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, Barclays upped their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a report on Friday, September 27th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $134.75.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 5,653 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total transaction of $684,860.95. Following the sale, the chief financial officer now directly owns 38,279 shares in the company, valued at approximately $4,637,500.85. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares of the company's stock, valued at $2,874,664.63. This represents a 21.12 % 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 worth $8,414,329. 1.90% of the stock is owned by insiders.

TD SYNNEX Stock Down 0.7 %

Shares of NYSE SNX traded down $0.78 during mid-day trading on Friday, hitting $118.99. 299,448 shares of the stock traded hands, compared to its average volume of 775,380. The company has a market cap of $10.12 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.21 and a beta of 1.48. The stock has a fifty day moving average price of $119.24 and a 200-day moving average price of $119.63. TD SYNNEX Co. has a 52 week low of $96.93 and a 52 week high of $133.85. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (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 during the quarter, compared to analysts' expectations of $14.11 billion. During the same period last year, the company posted $2.71 EPS. TD SYNNEX's revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Dividend Announcement

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

TD SYNNEX Company 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.