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

Meeder Asset Management Inc. increased its position in shares of TD SYNNEX Co. (NYSE:SNX) by 112.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNX. Pathstone Holdings LLC grew its stake in shares of TD SYNNEX by 45.2% during the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock valued at $2,197,000 after buying an additional 5,698 shares during the last quarter. Quest Partners LLC boosted its holdings in TD SYNNEX by 619.0% during the 3rd quarter. Quest Partners LLC now owns 7,248 shares of the business services provider’s stock valued at $870,000 after acquiring an additional 6,240 shares during the period. Thrivent Financial for Lutherans grew its position in TD SYNNEX by 560.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after acquiring an additional 315,424 shares during the last quarter. Gladius Capital Management LP purchased a new stake in TD SYNNEX in the third quarter worth $127,000. Finally, Natixis Advisors LLC lifted its position in shares of TD SYNNEX by 11.9% during the third quarter. Natixis Advisors LLC now owns 79,262 shares of the business services provider’s stock worth $9,518,000 after purchasing an additional 8,438 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SNX. Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Loop Capital reaffirmed a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Barclays raised their price objective on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $116.30 on Tuesday. TD SYNNEX Co. has a fifty-two week low of $96.93 and a fifty-two week high of $133.85. The company has a market cap of $9.90 billion, a PE ratio of 15.05, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The business has a 50-day simple moving average of $118.46 and a two-hundred day simple moving average of $119.75.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping 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 business earned $2.71 EPS. TD SYNNEX’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts expect that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Insider Buying and Selling

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

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.