Allspring Global Investments Holdings LLC Grows Position in TD SYNNEX Co. (NYSE:SNX)

Allspring Global Investments Holdings LLC grew its stake in TD SYNNEX Co. (NYSE:SNX) by 325.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 347,451 shares of the business services provider’s stock after buying an additional 265,737 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TD SYNNEX were worth $40,488,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SNX. Empowered Funds LLC purchased a new stake in TD SYNNEX in the 4th quarter worth approximately $7,780,000. Wilmington Savings Fund Society FSB increased its stake in shares of TD SYNNEX by 11.0% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,141 shares of the business services provider’s stock worth $251,000 after purchasing an additional 212 shares in the last quarter. GHP Investment Advisors Inc. raised its position in shares of TD SYNNEX by 5.4% during the 4th quarter. GHP Investment Advisors Inc. now owns 15,075 shares of the business services provider’s stock valued at $1,768,000 after purchasing an additional 771 shares during the period. Stratos Investment Management LLC lifted its stake in shares of TD SYNNEX by 29.8% during the 4th quarter. Stratos Investment Management LLC now owns 36,481 shares of the business services provider’s stock valued at $4,279,000 after buying an additional 8,366 shares in the last quarter. Finally, Ninety One SA PTY Ltd boosted its holdings in TD SYNNEX by 95.6% in the 4th quarter. Ninety One SA PTY Ltd now owns 43,882 shares of the business services provider’s stock worth $5,146,000 after buying an additional 21,444 shares during the period. Institutional investors own 84.00% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock valued at $3,639,500 over the last ninety days. 1.90% of the stock is owned by insiders.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $144.25 on Friday. TD SYNNEX Co. has a 52-week low of $99.95 and a 52-week high of $144.48. The company has a market cap of $12.17 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.06 and a beta of 1.49. The firm’s fifty day moving average is $130.53 and its 200 day moving average is $122.33. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a $0.44 dividend. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.22%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

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.