UBS Group AG Sells 35,674 Shares of TD SYNNEX Corporation $SNX

UBS Group AG trimmed its holdings in shares of TD SYNNEX Corporation (NYSE:SNX) by 18.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 160,155 shares of the business services provider’s stock after selling 35,674 shares during the quarter. UBS Group AG’s holdings in TD SYNNEX were worth $24,060,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SNX. Dorato Capital Management bought a new stake in TD SYNNEX during the fourth quarter valued at approximately $27,000. Ossiam lifted its position in shares of TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in shares of TD SYNNEX during the 3rd quarter valued at about $30,000. Brown Brothers Harriman & Co. lifted its position in shares of TD SYNNEX by 675.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock valued at $37,000 after buying an additional 196 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new position in shares of TD SYNNEX during the 3rd quarter valued at about $42,000. 84.00% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Merline Saintil sold 167 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $157.75, for a total transaction of $26,344.25. Following the completion of the transaction, the director owned 6,995 shares in the company, valued at $1,103,461.25. The trade was a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $233.85, for a total value of $1,169,250.00. Following the completion of the sale, the director owned 33,537 shares in the company, valued at approximately $7,842,627.45. The trade was a 12.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 11,417 shares of company stock valued at $2,412,026. 0.70% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNX. Zacks Research raised TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. The Goldman Sachs Group lifted their price objective on TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Barrington Research reaffirmed an “outperform” rating and set a $182.00 price objective on shares of TD SYNNEX in a research report on Friday, March 27th. Barclays lifted their price objective on TD SYNNEX from $163.00 to $166.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 1st. Finally, Royal Bank Of Canada lifted their price objective on TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $197.70.

TD SYNNEX Stock Performance

NYSE:SNX opened at $239.41 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. TD SYNNEX Corporation has a 1 year low of $117.45 and a 1 year high of $240.47. The stock’s 50 day simple moving average is $184.68 and its two-hundred day simple moving average is $165.10. The company has a market cap of $19.25 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.04 and a beta of 1.40.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. During the same quarter in the previous year, the company posted $2.80 EPS. The company’s revenue was up 18.1% compared to the same quarter last year. As a group, equities analysts anticipate that TD SYNNEX Corporation will post 15.69 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX’s payout ratio is currently 15.96%.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.