Qsemble Capital Management LP Invests $284,000 in TD SYNNEX Co. (NYSE:SNX)

Qsemble Capital Management LP bought a new position in shares of TD SYNNEX Co. (NYSE:SNX) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 2,365 shares of the business services provider’s stock, valued at approximately $284,000.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of TD SYNNEX during the 3rd quarter worth about $30,000. UMB Bank n.a. grew its holdings in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of TD SYNNEX during the 3rd quarter worth about $37,000. Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock worth $40,000 after purchasing an additional 123 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of TD SYNNEX by 217.5% during the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 5,653 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the transaction, the chief financial officer now directly owns 38,279 shares in the company, valued at $4,637,500.85. This represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction 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 transaction, the insider now owns 23,339 shares of the company’s stock, valued at approximately $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 a total of 69,645 shares of company stock worth $8,414,329 in the last three months. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

TD SYNNEX Stock Performance

Shares of SNX opened at $119.77 on Thursday. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.22 and a beta of 1.48. TD SYNNEX Co. has a 52-week low of $96.93 and a 52-week high of $133.85. The business’s 50 day moving average is $119.12 and its two-hundred day moving average is $119.65.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.06. The business had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.71 EPS. Analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio is currently 20.70%.

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.