Nomura Holdings Inc. Acquires Shares of 10,048 TD SYNNEX Co. (NYSE:SNX)

Nomura Holdings Inc. bought a new stake in TD SYNNEX Co. (NYSE:SNX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 10,048 shares of the business services provider’s stock, valued at approximately $1,178,000.

A number of other institutional investors have also recently made changes to their positions in SNX. Nuveen Asset Management LLC raised its stake in TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock valued at $141,913,000 after acquiring an additional 937,040 shares during the period. Occudo Quantitative Strategies LP bought a new stake in shares of TD SYNNEX in the fourth quarter valued at approximately $536,000. Millennium Management LLC lifted its stake in shares of TD SYNNEX by 14.4% during the 4th quarter. Millennium Management LLC now owns 141,975 shares of the business services provider’s stock valued at $16,651,000 after buying an additional 17,924 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in TD SYNNEX by 14.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,360 shares of the business services provider’s stock worth $1,801,000 after buying an additional 1,953 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in TD SYNNEX in the 4th quarter valued at approximately $1,355,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares of the company’s stock, valued at approximately $8,897,422.40. This trade represents a 23.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the completion of the sale, the chief financial officer now owns 49,843 shares of the company’s stock, valued at $6,383,891.44. The trade was a 2.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,510 shares of company stock worth $3,241,001. 1.00% of the stock is currently owned by corporate insiders.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $125.14 on Monday. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.06 and a beta of 1.33. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $113.32 and a 200 day simple moving average of $123.28. TD SYNNEX Co. has a 52 week low of $92.23 and a 52 week high of $145.10.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.07). The business had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.99 EPS. On average, research analysts forecast that TD SYNNEX Co. will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Friday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 21.97%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group dropped their target price on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Cfra dropped their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a report on Friday, March 28th. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Royal Bank of Canada reduced their target price on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Finally, Barrington Research reissued an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $137.22.

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.