Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,969 Shares of TD SYNNEX Co. (NYSE:SNX)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of TD SYNNEX Co. (NYSE:SNX - Free Report) by 18.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,974 shares of the business services provider's stock after purchasing an additional 2,969 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in TD SYNNEX were worth $2,225,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc raised its holdings in shares of TD SYNNEX by 4.1% in the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider's stock valued at $344,000 after acquiring an additional 112 shares in the last quarter. GSA Capital Partners LLP raised its holdings in shares of TD SYNNEX by 6.3% in the 3rd quarter. GSA Capital Partners LLP now owns 3,952 shares of the business services provider's stock valued at $475,000 after acquiring an additional 233 shares in the last quarter. KBC Group NV raised its holdings in shares of TD SYNNEX by 159.4% in the 3rd quarter. KBC Group NV now owns 4,573 shares of the business services provider's stock valued at $549,000 after acquiring an additional 2,810 shares in the last quarter. Huntington National Bank raised its holdings in shares of TD SYNNEX by 12,380.0% in the 3rd quarter. Huntington National Bank now owns 624 shares of the business services provider's stock valued at $75,000 after acquiring an additional 619 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings 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 acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several analysts have weighed in on SNX shares. Royal Bank of Canada raised their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, February 21st. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Tuesday. Barclays increased their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. JPMorgan Chase & Co. increased their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, January 13th. Finally, 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 research report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $149.75.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. This represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock worth $6,353,261 in the last ninety days. 1.00% of the stock is owned by insiders.

TD SYNNEX Trading Down 1.9 %

SNX traded down $2.44 on Thursday, hitting $129.51. 761,917 shares of the company were exchanged, compared to its average volume of 723,402. The firm has a fifty day simple moving average of $137.34 and a two-hundred day simple moving average of $125.26. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX Co. has a 12 month low of $102.77 and a 12 month high of $145.10. The stock has a market capitalization of $10.93 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

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 dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.36%. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. The ex-dividend date was Friday, January 24th. TD SYNNEX's dividend payout ratio (DPR) is presently 22.11%.

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.