Versor Investments LP Has $426,000 Stock Position in TD SYNNEX Co. (NYSE:SNX)

Posted by on Apr 15th, 2023

Versor Investments LP lowered its holdings in shares of TD SYNNEX Co. (NYSE:SNX – Get Rating) by 64.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,500 shares of the business services provider’s stock after selling 8,200 shares during the period. Versor Investments LP’s holdings in TD SYNNEX were worth $426,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in TD SYNNEX in the fourth quarter valued at approximately $217,000. Exchange Traded Concepts LLC grew its stake in TD SYNNEX by 60.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,522 shares of the business services provider’s stock valued at $144,000 after acquiring an additional 574 shares during the period. Natixis Advisors L.P. grew its stake in TD SYNNEX by 1.1% in the fourth quarter. Natixis Advisors L.P. now owns 42,850 shares of the business services provider’s stock valued at $4,059,000 after acquiring an additional 456 shares during the period. BTC Capital Management Inc. acquired a new stake in TD SYNNEX in the fourth quarter valued at approximately $206,000. Finally, State of Michigan Retirement System grew its stake in TD SYNNEX by 0.9% in the fourth quarter. State of Michigan Retirement System now owns 10,721 shares of the business services provider’s stock valued at $1,015,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 84.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Raymond James reduced their price objective on TD SYNNEX from $140.00 to $130.00 and set a “strong-buy” rating for the company in a research note on Wednesday, March 29th. Credit Suisse Group raised their price objective on TD SYNNEX from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, January 11th. Cfra restated a “hold” rating and issued a $100.00 target price (down previously from $120.00) on shares of TD SYNNEX in a report on Tuesday, March 28th. JPMorgan Chase & Co. dropped their target price on TD SYNNEX from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, March 29th. Finally, Barclays dropped their target price on TD SYNNEX from $109.00 to $103.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 29th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.20.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,082 shares of the business’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $110.90, for a total value of $119,993.80. Following the sale, the chief financial officer now directly owns 50,893 shares in the company, valued at $5,644,033.70. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other TD SYNNEX news, major shareholder Apollo Management Holdings Gp, sold 5,175,000 shares of the business’s stock in a transaction on Monday, January 30th. The stock was sold at an average price of $97.00, for a total value of $501,975,000.00. Following the sale, the insider now directly owns 37,802,877 shares in the company, valued at $3,666,879,069. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Marshall Witt sold 1,082 shares of TD SYNNEX stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $110.90, for a total value of $119,993.80. Following the completion of the transaction, the chief financial officer now owns 50,893 shares of the company’s stock, valued at $5,644,033.70. The disclosure for this sale can be found here. Insiders have sold a total of 5,201,767 shares of company stock worth $504,652,598 over the last ninety days. 1.70% of the stock is currently owned by company insiders.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock opened at $94.38 on Friday. The business’s fifty day simple moving average is $95.83 and its 200 day simple moving average is $96.10. The firm has a market capitalization of $8.91 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 0.94 and a beta of 1.64. TD SYNNEX Co. has a 12 month low of $78.86 and a 12 month high of $111.57. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.47.

TD SYNNEX (NYSE:SNX – Get Rating) last issued its quarterly earnings results on Tuesday, March 28th. The business services provider reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.08. The business had revenue of $15.13 billion for the quarter, compared to analyst estimates of $15.74 billion. TD SYNNEX had a return on equity of 13.80% and a net margin of 1.11%. As a group, analysts anticipate that TD SYNNEX Co. will post 11.16 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be paid a $0.35 dividend. The ex-dividend date is Thursday, April 13th. This represents a $1.40 annualized dividend and a dividend yield of 1.48%. TD SYNNEX’s payout ratio is presently 19.55%.

TD SYNNEX Company Profile

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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.

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

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