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Wedge Capital Management L L P NC Has $3.49 Million Position in TD SYNNEX Co. (NYSE:SNX)

TD SYNNEX logo with Computer and Technology background

Wedge Capital Management L L P NC trimmed its holdings in TD SYNNEX Co. (NYSE:SNX - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,721 shares of the business services provider's stock after selling 3,555 shares during the quarter. Wedge Capital Management L L P NC's holdings in TD SYNNEX were worth $3,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SNX. CIBC Asset Management Inc lifted its holdings in TD SYNNEX by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider's stock worth $313,000 after buying an additional 86 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 valued at $315,000 after acquiring an additional 90 shares during the last quarter. AlphaMark Advisors LLC increased its position in 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 purchasing an additional 100 shares during the period. Atria Investments Inc raised its holdings in TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider's stock worth $344,000 after purchasing an additional 112 shares during the last quarter. Finally, Meixler Investment Management Ltd. lifted its position in TD SYNNEX by 2.1% during the 3rd quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider's stock valued at $698,000 after purchasing an additional 120 shares during the period. Institutional investors own 84.00% of the company's stock.

Insider Activity at TD SYNNEX

In other news, insider Simon Leung sold 6,249 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 owns 23,339 shares in the company, valued at $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,876 shares of company stock valued at $3,319,329. 1.90% of the stock is owned by corporate insiders.

TD SYNNEX Stock Down 0.1 %

NYSE:SNX traded down $0.19 during trading hours on Monday, reaching $136.98. 641,478 shares of the stock were exchanged, compared to its average volume of 594,708. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX Co. has a twelve month low of $98.70 and a twelve month high of $138.31. The stock has a market cap of $11.66 billion, a PE ratio of 17.21, a PEG ratio of 1.24 and a beta of 1.46. The firm has a 50 day moving average of $121.55 and a 200 day moving average of $118.66.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be paid a $0.44 dividend. This is a positive change from TD SYNNEX's previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.28%. The ex-dividend date is Friday, January 24th. TD SYNNEX's payout ratio is presently 22.11%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays boosted their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. Loop Capital reiterated a "buy" rating and issued a $150.00 price objective 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 Tuesday, January 14th. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and upped their price target for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $140.00 price objective on shares of TD SYNNEX in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.38.

Check Out Our Latest Analysis on TD SYNNEX

TD SYNNEX Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for TD SYNNEX (NYSE:SNX)

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