Blueshift Asset Management LLC Invests $699,000 in TD SYNNEX Co. (NYSE:SNX)

Blueshift Asset Management LLC bought a new position in shares of TD SYNNEX Co. (NYSE:SNX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,962 shares of the business services provider’s stock, valued at approximately $699,000.

Other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new position in shares of TD SYNNEX during the fourth quarter worth approximately $5,158,000. Pathstone Holdings LLC grew its position in TD SYNNEX by 45.2% during the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after buying an additional 5,698 shares in the last quarter. JPMorgan Chase & Co. grew its position in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares in the last quarter. IFP Advisors Inc grew its position in TD SYNNEX by 976.6% during the fourth quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock worth $119,000 after buying an additional 918 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in TD SYNNEX during the fourth quarter worth approximately $2,260,000. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SNX shares. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Tuesday. Royal Bank of Canada raised their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Barclays boosted their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.50.

TD SYNNEX Stock Up 2.5 %

Shares of SNX opened at $132.13 on Thursday. The company has a market capitalization of $11.15 billion, a PE ratio of 16.60, a PEG ratio of 1.06 and a beta of 1.51. TD SYNNEX Co. has a 12 month low of $102.77 and a 12 month high of $145.10. The stock’s 50-day moving average price is $137.34 and its two-hundred day moving average price is $125.26. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.33%. TD SYNNEX’s payout ratio is presently 22.11%.

Insiders Place Their Bets

In other TD SYNNEX news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,172 shares of company stock valued at $6,353,261. 1.00% of the stock is currently owned by company insiders.

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.