Two Sigma Advisers LP Increases Stock Holdings in TD SYNNEX Co. (NYSE:SNX)

Two Sigma Advisers LP raised its stake in TD SYNNEX Co. (NYSE:SNX - Free Report) by 131.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 127,736 shares of the business services provider's stock after purchasing an additional 72,650 shares during the quarter. Two Sigma Advisers LP owned 0.15% of TD SYNNEX worth $15,339,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SNX. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX in the third quarter worth about $30,000. UMB Bank n.a. increased its stake 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 valued at $35,000 after buying an additional 144 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in shares of TD SYNNEX during the third quarter valued at approximately $37,000. Blue Trust Inc. lifted its stake in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider's stock worth $40,000 after acquiring an additional 123 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new stake in TD SYNNEX in the second quarter valued at $52,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insider Transactions at TD SYNNEX

In related news, CFO Marshall Witt sold 5,653 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total value of $684,860.95. Following the transaction, the chief financial officer now owns 38,279 shares in the company, valued at approximately $4,637,500.85. This represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Simon Leung sold 6,249 shares of the company's 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 completion of the sale, the insider now directly owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,645 shares of company stock valued at $8,415,189 in the last 90 days. Insiders own 1.90% of the company's stock.

TD SYNNEX Stock Performance

TD SYNNEX stock traded down $0.17 during midday trading on Monday, hitting $123.06. The stock had a trading volume of 546,970 shares, compared to its average volume of 767,797. The company has a market capitalization of $10.47 billion, a PE ratio of 15.94, a P/E/G ratio of 1.14 and a beta of 1.47. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm's fifty day moving average is $119.65 and its two-hundred day moving average is $119.41. TD SYNNEX Co. has a 52-week low of $98.70 and a 52-week high of $133.85.

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

TD SYNNEX Announces Dividend

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 1.30%. The ex-dividend date was Friday, October 11th. TD SYNNEX's payout ratio is currently 20.70%.

Wall Street Analyst Weigh In

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

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.