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) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,365 shares of the business services provider’s stock, valued at approximately $284,000.

A number of other hedge funds have also modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in TD SYNNEX in the 3rd quarter valued at $30,000. UMB Bank n.a. grew its position in TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in TD SYNNEX in the 3rd quarter valued at $37,000. Blue Trust Inc. grew its position in TD SYNNEX by 52.3% in the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after buying an additional 123 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in TD SYNNEX in the 2nd quarter valued at $52,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Trading Down 0.7 %

NYSE:SNX opened at $119.77 on Thursday. The company has a market capitalization of $10.19 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX Co. has a 52-week low of $96.93 and a 52-week high of $133.85. The stock has a fifty day simple moving average of $119.12 and a 200-day simple moving average of $119.65.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. The business had revenue of $14.68 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.71 EPS. On average, equities research analysts expect that TD SYNNEX Co. will post 11.03 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were paid 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 of this dividend was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 20.70%.

Analysts Set New Price Targets

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

Insider Activity at TD SYNNEX

In related news, CFO Marshall Witt sold 5,653 shares of the business’s 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. The trade was a 12.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dennis Polk sold 15,689 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,751,172.58. The trade was a 10.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by 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.