Assetmark Inc. Has $187,000 Position in TD SYNNEX Co. (NYSE:SNX)

Assetmark Inc. lessened its holdings in TD SYNNEX Co. (NYSE:SNX) by 8.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,554 shares of the business services provider’s stock after selling 143 shares during the period. Assetmark Inc.’s holdings in TD SYNNEX were worth $187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SNX. Vanguard Group Inc. raised its position in TD SYNNEX by 23.4% in the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after purchasing an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of TD SYNNEX by 58.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after buying an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TD SYNNEX by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after buying an additional 177,460 shares during the period. AQR Capital Management LLC boosted its stake in TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after buying an additional 269,759 shares in the last quarter. Finally, Ninety One UK Ltd grew its position in TD SYNNEX by 131.0% in the second quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after acquiring an additional 777,924 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barrington Research reissued an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a report on Friday, September 27th. Loop Capital reaffirmed a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Barclays boosted their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX Price Performance

Shares of SNX stock opened at $115.30 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.19 and a beta of 1.48. The firm’s 50 day moving average is $118.35 and its 200-day moving average is $119.72. TD SYNNEX Co. has a 1 year low of $96.93 and a 1 year high of $133.85.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data 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 firm had revenue of $14.68 billion for 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 for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 EPS. Sell-side analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.39%. TD SYNNEX’s payout ratio is 20.70%.

Insiders Place Their Bets

In related news, CFO Marshall Witt sold 5,653 shares of TD SYNNEX 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 sale, the chief financial officer now directly owns 38,279 shares of the company’s stock, valued at $4,637,500.85. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann F. Vezina sold 1,937 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the transaction, the director now directly owns 5,695 shares in the company, valued at $689,721.45. The trade was a 25.38 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is currently 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.