Lingohr Asset Management GmbH Sells 543 Shares of TD SYNNEX Co. (NYSE:SNX)

Lingohr Asset Management GmbH lowered its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 8.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,700 shares of the business services provider’s stock after selling 543 shares during the quarter. Lingohr Asset Management GmbH’s holdings in TD SYNNEX were worth $682,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SNX. Sei Investments Co. lifted its holdings in TD SYNNEX by 73.9% in the first quarter. Sei Investments Co. now owns 9,508 shares of the business services provider’s stock valued at $1,075,000 after buying an additional 4,042 shares during the period. Russell Investments Group Ltd. grew its stake in shares of TD SYNNEX by 10.5% during the first quarter. Russell Investments Group Ltd. now owns 53,205 shares of the business services provider’s stock worth $6,018,000 after purchasing an additional 5,071 shares during the period. ProShare Advisors LLC increased its holdings in TD SYNNEX by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 86 shares during the last quarter. Vanguard Group Inc. lifted its stake in TD SYNNEX by 23.4% in the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after buying an additional 1,261,474 shares during the period. Finally, Bahl & Gaynor Inc. bought a new position in TD SYNNEX during the first quarter worth about $203,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at TD SYNNEX

In other 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 sale, the insider now owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,645 shares of company stock worth $8,414,329. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. 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 set a $140.00 price objective on shares of TD SYNNEX in a report on Friday, September 27th. Loop Capital restated a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX Stock Up 0.9 %

SNX stock opened at $116.30 on Tuesday. The stock has a market capitalization of $9.90 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.17 and a beta of 1.48. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average price of $118.46 and a 200-day moving average price of $119.75. TD SYNNEX Co. has a 12 month low of $96.93 and a 12 month high of $133.85.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating 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 firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter last year, the business posted $2.71 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.38%. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

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.