R Squared Ltd Takes $120,000 Position in TD SYNNEX Co. (NYSE:SNX)

R Squared Ltd bought a new position in TD SYNNEX Co. (NYSE:SNXFree Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,020 shares of the business services provider’s stock, valued at approximately $120,000.

A number of other institutional investors have also bought and sold shares of SNX. Sei Investments Co. boosted its stake in shares of TD SYNNEX by 208.5% in the second quarter. Sei Investments Co. now owns 29,334 shares of the business services provider’s stock worth $3,385,000 after acquiring an additional 19,826 shares during the period. Bank of Montreal Can lifted its holdings in TD SYNNEX by 173.8% in the 2nd quarter. Bank of Montreal Can now owns 17,692 shares of the business services provider’s stock worth $2,077,000 after purchasing an additional 11,230 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in TD SYNNEX by 20.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider’s stock worth $7,794,000 after purchasing an additional 11,589 shares during the period. Algert Global LLC grew its holdings in TD SYNNEX by 319.8% during the 2nd quarter. Algert Global LLC now owns 10,159 shares of the business services provider’s stock valued at $1,172,000 after buying an additional 7,739 shares in the last quarter. Finally, Creative Planning raised its position in shares of TD SYNNEX by 21.3% during the second quarter. Creative Planning now owns 8,614 shares of the business services provider’s stock valued at $994,000 after buying an additional 1,513 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed 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 dated 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 transaction, the insider now 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 28,715 shares of company stock valued at $3,433,500 in the last ninety days. 1.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SNX shares. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Barclays increased their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.

Read Our Latest Stock Report on TD SYNNEX

TD SYNNEX Stock Up 0.3 %

Shares of SNX opened at $141.76 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $125.88 and a 200 day moving average of $120.41. The company has a market cap of $12.06 billion, a PE ratio of 17.81, a P/E/G ratio of 1.05 and a beta of 1.46. TD SYNNEX Co. has a 52-week low of $98.70 and a 52-week high of $143.98.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.24%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, January 24th. TD SYNNEX’s dividend payout ratio is presently 20.10%.

TD SYNNEX Company 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.

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

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