Meeder Asset Management Inc. Acquires 15,567 Shares of TD SYNNEX Co. (NYSE:SNX)

Meeder Asset Management Inc. grew its position in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 112.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,407 shares of the business services provider's stock after purchasing an additional 15,567 shares during the period. Meeder Asset Management Inc.'s holdings in TD SYNNEX were worth $3,531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in TD SYNNEX in the third quarter worth approximately $30,000. UMB Bank n.a. boosted its stake in shares of TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider's stock valued at $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of TD SYNNEX during the 3rd quarter valued at $37,000. Blue Trust Inc. raised its position in TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider's stock worth $40,000 after purchasing an additional 123 shares during the period. Finally, GAMMA Investing LLC lifted its stake in TD SYNNEX by 217.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider's stock worth $52,000 after purchasing an additional 311 shares during the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other TD SYNNEX news, 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 sale, the insider now directly owns 23,339 shares of the company's stock, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dennis Polk sold 15,689 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,645 shares of company stock worth $8,414,329. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on SNX shares. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Barclays boosted their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a research report on Friday, September 27th. Royal Bank of Canada restated an "outperform" rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Friday, September 27th. Loop Capital reiterated a "buy" rating and set a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Finally, Barrington Research reissued an "outperform" rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, TD SYNNEX currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.75.

TD SYNNEX Trading Down 1.4 %

Shares of NYSE:SNX traded down $1.59 on Tuesday, hitting $114.71. The company had a trading volume of 394,212 shares, compared to its average volume of 782,017. The firm's 50-day simple moving average is $118.55 and its two-hundred day simple moving average is $119.73. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 1 year low of $96.93 and a 1 year high of $133.85.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The business had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. During the same period last year, the business posted $2.71 earnings per share. TD SYNNEX's quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX's dividend payout ratio is currently 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.