Stanley Laman Group Ltd. Has $2.77 Million Holdings in TD SYNNEX Co. (NYSE:SNX)

Stanley Laman Group Ltd. raised its holdings in TD SYNNEX Co. (NYSE:SNX) by 10.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,985 shares of the business services provider’s stock after acquiring an additional 2,241 shares during the period. Stanley Laman Group Ltd.’s holdings in TD SYNNEX were worth $2,768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its holdings in TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 140 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of TD SYNNEX during the first quarter worth approximately $32,000. Pineridge Advisors LLC bought a new stake in TD SYNNEX during the fourth quarter worth $33,000. Blue Trust Inc. grew its holdings in TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after buying an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in TD SYNNEX by 217.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after buying an additional 311 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the transaction, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,580,095.96. The disclosure for this sale can be found here. Insiders sold a total of 35,071 shares of company stock valued at $3,985,182 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

SNX has been the subject of a number of recent analyst reports. Barrington Research restated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 26th. UBS Group raised their price target on TD SYNNEX from $145.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Bank of America decreased their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. JPMorgan Chase & Co. decreased their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $127.33.

TD SYNNEX Stock Up 0.5 %

Shares of SNX traded up $0.53 on Friday, reaching $117.60. The stock had a trading volume of 345,086 shares, compared to its average volume of 638,477. The firm has a market capitalization of $10.05 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.13 and a beta of 1.52. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26. The company has a 50-day simple moving average of $118.12 and a 200-day simple moving average of $114.75. TD SYNNEX Co. has a 12-month low of $89.73 and a 12-month high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. Sell-side analysts predict that TD SYNNEX Co. will post 11.22 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

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.