ClariVest Asset Management LLC Boosts Holdings in TD SYNNEX Co. (NYSE:SNX)

ClariVest Asset Management LLC lifted its stake in shares of TD SYNNEX Co. (NYSE:SNX) by 45,552.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,435 shares of the business services provider’s stock after buying an additional 16,399 shares during the quarter. ClariVest Asset Management LLC’s holdings in TD SYNNEX were worth $1,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Nordea Investment Management AB boosted its stake in TD SYNNEX by 38.5% during the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares in the last quarter. Goldman Sachs Group Inc. increased its position in TD SYNNEX by 63.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 164,999 shares of the business services provider’s stock valued at $17,756,000 after buying an additional 64,024 shares in the last quarter. Norges Bank purchased a new stake in shares of TD SYNNEX in the fourth quarter worth $79,506,000. Lord Abbett & CO. LLC bought a new position in shares of TD SYNNEX during the first quarter valued at $57,981,000. Finally, Wedge Capital Management L L P NC raised its position in shares of TD SYNNEX by 20.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock worth $3,594,000 after purchasing an additional 5,252 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

TD SYNNEX Trading Up 0.3 %

Shares of NYSE:SNX opened at $110.56 on Thursday. The stock’s 50-day simple moving average is $115.55 and its two-hundred day simple moving average is $116.91. The stock has a market capitalization of $9.45 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.10 and a beta of 1.49. TD SYNNEX Co. has a 52-week low of $89.73 and a 52-week high of $133.85. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.78 and a current ratio of 1.26.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, June 25th. The business services provider reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.05). TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The business had revenue of $13.95 billion during the quarter, compared to analysts’ expectations of $14.12 billion. Analysts expect that TD SYNNEX Co. will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a $0.40 dividend. The ex-dividend date was Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a yield of 1.45%. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,580,095.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total value of $2,313,200.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,580,095.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of TD SYNNEX stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the transaction, the chief financial officer now owns 45,115 shares in the company, valued at approximately $4,968,966.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,188 shares of company stock worth $3,998,655. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group lifted their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Royal Bank of Canada raised TD SYNNEX from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $135.00 to $140.00 in a research report on Monday, July 15th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Bank of America lowered their price target on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. reduced their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and an average price target of $127.33.

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.