Meeder Asset Management Inc. Takes $252,000 Position in TD SYNNEX Co. (NYSE:SNX)

Meeder Asset Management Inc. purchased a new position in shares of TD SYNNEX Co. (NYSE:SNX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,338 shares of the business services provider’s stock, valued at approximately $252,000.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. grew its stake in TD SYNNEX by 31.5% in the first quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock valued at $2,085,000 after purchasing an additional 4,841 shares in the last quarter. US Bancorp DE grew its position in shares of TD SYNNEX by 11.6% in the 1st quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock valued at $745,000 after acquiring an additional 747 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of TD SYNNEX by 7.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock worth $992,000 after purchasing an additional 677 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of TD SYNNEX by 202.3% in the 1st quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock valued at $5,569,000 after purchasing an additional 35,593 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in TD SYNNEX in the 1st quarter valued at about $1,065,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Trading Down 0.7 %

Shares of SNX stock opened at $116.90 on Tuesday. The stock has a 50-day moving average of $105.14 and a 200-day moving average of $101.77. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The stock has a market cap of $10.25 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.12 and a beta of 1.64. TD SYNNEX Co. has a 1-year low of $86.30 and a 1-year high of $119.87.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.57. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The firm had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.54 billion. During the same quarter last year, the business earned $3.30 EPS. The company’s revenue was down 11.3% compared to the same quarter last year. On average, equities research analysts forecast that TD SYNNEX Co. will post 11.17 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 1.37%. TD SYNNEX’s payout ratio is 23.22%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SNX shares. Barclays raised their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 27th. Cfra upped their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a report on Tuesday, March 26th. Bank of America lifted their price target on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, April 2nd. Barrington Research increased their price objective on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and an average price target of $118.18.

Insider Buying and Selling at TD SYNNEX

In other news, major shareholder Apollo Management Holdings Gp, sold 2,250,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $101.50, for a total value of $228,375,000.00. Following the transaction, the insider now directly owns 26,153,049 shares of the company’s stock, valued at approximately $2,654,534,473.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Apollo Management Holdings Gp, sold 2,250,000 shares of the business’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $101.50, for a total value of $228,375,000.00. Following the completion of the sale, the insider now directly owns 26,153,049 shares of the company’s stock, valued at approximately $2,654,534,473.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Urban sold 4,355 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $107.00, for a total value of $465,985.00. Following the completion of the transaction, the insider now owns 20,270 shares in the company, valued at approximately $2,168,890. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,289,905 shares of company stock valued at $232,556,362. 1.90% of the stock is currently owned by 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.