Worldquant Millennium Advisors LLC Sells 2,428 Shares of TD SYNNEX Co. (NYSE:SNX)

Worldquant Millennium Advisors LLC reduced its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 15.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,045 shares of the business services provider’s stock after selling 2,428 shares during the period. Worldquant Millennium Advisors LLC’s holdings in TD SYNNEX were worth $1,566,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Hancock Whitney Corp grew its holdings in TD SYNNEX by 57.9% during the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after acquiring an additional 6,207 shares during the period. Wedge Capital Management L L P NC grew its holdings in TD SYNNEX by 20.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after acquiring an additional 5,252 shares during the period. Friedenthal Financial acquired a new stake in TD SYNNEX during the 2nd quarter worth about $967,000. ClariVest Asset Management LLC grew its holdings in TD SYNNEX by 45,552.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock worth $1,897,000 after acquiring an additional 16,399 shares during the period. Finally, Pathstone Holdings LLC grew its holdings in TD SYNNEX by 45.2% during the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after acquiring an additional 5,698 shares during the period. 84.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SNX has been the subject of a number of recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Loop Capital reiterated a “buy” rating and set a $150.00 price target on shares of TD SYNNEX in a report on Monday, October 7th. Barclays raised their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $123.23 on Monday. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 1.15 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. TD SYNNEX Co. has a fifty-two week low of $97.50 and a fifty-two week high of $133.85. The firm’s 50-day simple moving average is $119.65 and its 200 day simple moving average is $119.41.

TD SYNNEX (NYSE:SNX) last posted 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 return on equity of 12.15% and a net margin of 1.20%. The company had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same quarter last year, the company earned $2.71 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, research analysts anticipate that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid a $0.40 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.30%. TD SYNNEX’s payout ratio is 20.70%.

Insider Activity

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,751,172.58. This represents a 10.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann F. Vezina sold 1,937 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total transaction of $234,590.07. Following the transaction, the director now directly owns 5,695 shares in the company, valued at approximately $689,721.45. This represents a 25.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,645 shares of company stock worth $8,415,189 over the last quarter. Insiders own 1.90% of the company’s stock.

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.