Meeder Asset Management Inc. Purchases 15,567 Shares of TD SYNNEX Co. (NYSE:SNX)

Meeder Asset Management Inc. increased its position in TD SYNNEX Co. (NYSE:SNX) by 112.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,407 shares of the business services provider’s stock after acquiring an additional 15,567 shares during the period. Meeder Asset Management Inc.’s holdings in TD SYNNEX were worth $3,531,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SNX. Vanguard Group Inc. boosted its holdings 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 worth $751,143,000 after purchasing an additional 1,261,474 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of TD SYNNEX by 58.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after buying an additional 1,006,569 shares during the period. Ninety One UK Ltd boosted its stake in shares of TD SYNNEX by 131.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock worth $158,298,000 after buying an additional 777,924 shares during the last quarter. Lind Value II ApS bought a new stake in shares of TD SYNNEX in the first quarter worth $77,858,000. Finally, Thrivent Financial for Lutherans increased its position in TD SYNNEX by 560.0% during the third quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after acquiring an additional 315,424 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

TD SYNNEX Trading Up 0.9 %

SNX stock opened at $116.30 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX Co. has a 1-year low of $96.93 and a 1-year high of $133.85. The business has a 50 day simple moving average of $118.46 and a two-hundred day simple moving average of $119.75. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.17 and a beta of 1.48.

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, topping analysts’ consensus estimates of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. TD SYNNEX’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.71 earnings per share. Research analysts anticipate that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

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

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 5,653 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total value of $684,860.95. Following the completion of the transaction, the chief financial officer now owns 38,279 shares of the company’s stock, valued at approximately $4,637,500.85. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,645 shares of company stock worth $8,414,329 in the last quarter. 1.90% of the stock is owned by corporate insiders.

TD SYNNEX 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.