Quadrature Capital Ltd Invests $465,000 in TD SYNNEX Co. (NYSE:SNX)

Posted by Defense World Staff on Mar 12th, 2023

Quadrature Capital Ltd acquired a new stake in shares of TD SYNNEX Co. (NYSE:SNX – Get Rating) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,722 shares of the business services provider’s stock, valued at approximately $465,000.

A number of other large investors have also added to or reduced their stakes in SNX. CoreCap Advisors LLC purchased a new stake in shares of TD SYNNEX in the second quarter worth $27,000. Ronald Blue Trust Inc. grew its position in TD SYNNEX by 143.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 295 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 174 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in TD SYNNEX during the 3rd quarter valued at about $31,000. Wipfli Financial Advisors LLC bought a new stake in TD SYNNEX during the 3rd quarter valued at about $45,000. Finally, Quadrant Capital Group LLC raised its holdings in TD SYNNEX by 169.6% in the second quarter. Quadrant Capital Group LLC now owns 550 shares of the business services provider’s stock worth $50,000 after buying an additional 346 shares during the last quarter. Hedge funds and other institutional investors own 84.70% of the company’s stock.

Insider Buying and Selling

In other TD SYNNEX news, insider Dennis Polk sold 8,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $97.13, for a total transaction of $777,040.00. Following the transaction, the insider now owns 132,402 shares of the company’s stock, valued at $12,860,206.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other TD SYNNEX news, insider Dennis Polk sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $97.13, for a total transaction of $777,040.00. Following the sale, the insider now directly owns 132,402 shares of the company’s stock, valued at $12,860,206.26. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 712 shares of the company’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $95.58, for a total value of $68,052.96. Following the completion of the transaction, the chief financial officer now directly owns 50,893 shares of the company’s stock, valued at approximately $4,864,352.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,193,876 shares of company stock valued at $503,889,486. 1.70% of the stock is owned by corporate insiders.

TD SYNNEX Price Performance

NYSE SNX opened at $91.28 on Friday. The company has a 50-day moving average price of $101.66 and a 200-day moving average price of $96.29. TD SYNNEX Co. has a 52 week low of $78.86 and a 52 week high of $115.14. The company has a quick ratio of 0.70, a current ratio of 1.25 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $8.71 billion, a P/E ratio of 13.46, a PEG ratio of 0.84 and a beta of 1.65.

TD SYNNEX (NYSE:SNX – Get Rating) last announced its earnings results on Tuesday, January 10th. The business services provider reported $3.30 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.45. The business had revenue of $16.25 billion during the quarter, compared to analysts’ expectations of $15.78 billion. TD SYNNEX had a net margin of 1.04% and a return on equity of 14.08%. Equities research analysts anticipate that TD SYNNEX Co. will post 11.67 earnings per share for the current year.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Stockholders of record on Friday, January 20th were given a dividend of $0.35 per share. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Thursday, January 19th. TD SYNNEX’s payout ratio is presently 20.65%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barrington Research raised their price target on shares of TD SYNNEX from $98.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, January 11th. StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, February 15th. JPMorgan Chase & Co. upped their price target on TD SYNNEX from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 11th. Barclays initiated coverage on TD SYNNEX in a report on Wednesday, February 15th. They issued an “equal weight” rating and a $109.00 price objective for the company. Finally, Credit Suisse Group upped their target price on shares of TD SYNNEX from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, January 11th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $122.00.

About TD SYNNEX

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TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.