Janney Montgomery Scott LLC Sells 2,349 Shares of TD SYNNEX Co. (NYSE:SNX)

Janney Montgomery Scott LLC lowered its stake in TD SYNNEX Co. (NYSE:SNX – Get Rating) by 28.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,009 shares of the business services provider’s stock after selling 2,349 shares during the quarter. Janney Montgomery Scott LLC’s holdings in TD SYNNEX were worth $488,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. CoreCap Advisors LLC bought a new stake in TD SYNNEX in the second quarter valued at $27,000. Ronald Blue Trust Inc. boosted its holdings in TD SYNNEX by 143.8% in the third quarter. Ronald Blue Trust Inc. now owns 295 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 174 shares in the last quarter. Ellevest Inc. boosted its holdings in TD SYNNEX by 902.5% in the second quarter. Ellevest Inc. now owns 401 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 361 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in TD SYNNEX by 169.6% in the second quarter. Quadrant Capital Group LLC now owns 550 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 346 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in TD SYNNEX in the first quarter valued at $51,000. Institutional investors own 84.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SNX shares. Stifel Nicolaus dropped their target price on shares of TD SYNNEX from $125.00 to $120.00 in a report on Tuesday, September 27th. JPMorgan Chase & Co. boosted their target price on shares of TD SYNNEX from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, January 11th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Wednesday, January 11th. Royal Bank of Canada started coverage on shares of TD SYNNEX in a report on Tuesday, October 4th. They set a “sector perform” rating and a $95.00 target price on the stock. Finally, Credit Suisse Group boosted their target price on shares of TD SYNNEX from $103.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, January 11th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.63.

Insiders Place Their Bets

In other TD SYNNEX news, insider Dennis Polk sold 8,000 shares of the business’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $90.00, for a total value of $720,000.00. Following the completion of the transaction, the insider now owns 155,148 shares of the company’s stock, valued at approximately $13,963,320. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other TD SYNNEX news, insider Patrick Zammit sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $96.00, for a total transaction of $480,000.00. Following the completion of the sale, the insider now directly owns 101,463 shares in the company, valued at approximately $9,740,448. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dennis Polk sold 8,000 shares of the business’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $90.00, for a total value of $720,000.00. Following the sale, the insider now owns 155,148 shares of the company’s stock, valued at $13,963,320. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,403 shares of company stock valued at $2,727,866. 1.60% of the stock is owned by insiders.

TD SYNNEX Price Performance

SNX opened at $109.05 on Monday. The stock has a 50-day moving average price of $100.24 and a 200-day moving average price of $95.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.25 and a quick ratio of 0.70. The firm has a market cap of $10.42 billion, a PE ratio of 16.08, a P/E/G ratio of 0.96 and a beta of 1.58. TD SYNNEX Co. has a 1 year low of $78.86 and a 1 year high of $115.14.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 20th will be given a $0.35 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, January 19th. This represents a $1.40 dividend on an annualized basis and a yield of 1.28%. TD SYNNEX’s payout ratio is 20.65%.

About TD SYNNEX

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TD SYNNEX Corp. engages in the provision of a range of distribution, systems design, and integration solutions for the technology industry. The firm offers products from original equipment manufacturers as well as suppliers of technologies. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan.