Insider Selling: TD SYNNEX Co. (NYSE:SNX) CFO Sells 1,510 Shares of Stock

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now directly owns 48,362 shares in the company, valued at $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Marshall Witt also recently made the following trade(s):

• On Wednesday, October 9th, Marshall Witt sold 5,653 shares of TD SYNNEX stock. The shares were sold at an average price of $121.15, for a total value of $684,860.95.

TD SYNNEX Stock Up 0.9 %

Shares of NYSE SNX opened at $117.49 on Friday. The stock has a market capitalization of $10.00 billion, a PE ratio of 15.20, a price-to-earnings-growth 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. TD SYNNEX Co. has a 12-month low of $98.70 and a 12-month high of $133.85. The stock’s fifty day simple moving average is $120.23 and its two-hundred day simple moving average is $119.04.

TD SYNNEX (NYSE:SNX) last announced 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 business had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the previous year, the company posted $2.71 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, analysts expect that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.36%. TD SYNNEX’s dividend payout ratio (DPR) is 20.70%.

Analyst Ratings Changes

SNX has been the topic of a number of analyst reports. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Loop Capital reaffirmed a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. 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. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Finally, Barclays increased their price objective on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

Hedge Funds Weigh In On TD SYNNEX

A number of large investors have recently made changes to their positions in the business. CIBC Asset Management Inc grew its stake 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 during 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 worth $315,000 after acquiring an additional 90 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in shares of TD SYNNEX by 1.3% during the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock valued at $929,000 after acquiring an additional 100 shares in the last quarter. Fifth Third Bancorp raised its position in shares of TD SYNNEX by 11.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 106 shares during the last quarter. Finally, Atria Investments Inc boosted its stake in TD SYNNEX by 4.1% in 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 in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

About TD SYNNEX

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.