TD SYNNEX Corporation $SNX Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in TD SYNNEX Corporation (NYSE:SNX) by 38.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 21,578 shares of the business services provider’s stock after acquiring an additional 5,982 shares during the period. Intech Investment Management LLC’s holdings in TD SYNNEX were worth $3,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SNX. Dorato Capital Management acquired a new position in shares of TD SYNNEX in the 4th quarter valued at $27,000. Ossiam increased its position in shares of TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in shares of TD SYNNEX in the 3rd quarter valued at $30,000. Lloyd Advisory Services LLC. acquired a new position in shares of TD SYNNEX in the 4th quarter valued at $32,000. Finally, Brown Brothers Harriman & Co. increased its position in shares of TD SYNNEX by 675.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock valued at $37,000 after acquiring an additional 196 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SNX. Weiss Ratings reissued a “buy (b)” rating on shares of TD SYNNEX in a research report on Monday, May 4th. Barrington Research reaffirmed an “outperform” rating and issued a $182.00 price target on shares of TD SYNNEX in a report on Friday, March 27th. Morgan Stanley upped their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, March 20th. The Goldman Sachs Group upped their price target on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $212.60.

TD SYNNEX Trading Up 3.5%

Shares of TD SYNNEX stock opened at $270.48 on Tuesday. TD SYNNEX Corporation has a twelve month low of $118.35 and a twelve month high of $273.24. The firm has a market capitalization of $21.74 billion, a PE ratio of 22.48, a P/E/G ratio of 1.13 and a beta of 1.40. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $212.80 and its 200 day moving average price is $175.31.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $1.49. The company had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.80 EPS. On average, sell-side analysts predict that TD SYNNEX Corporation will post 15.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio (DPR) is 15.96%.

Insider Activity at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,025 shares of TD SYNNEX stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total value of $605,423.50. Following the completion of the sale, the insider owned 10,820 shares in the company, valued at approximately $2,165,514.80. This trade represents a 21.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $229.54, for a total transaction of $1,147,700.00. Following the completion of the transaction, the director owned 28,537 shares of the company’s stock, valued at approximately $6,550,382.98. This trade represents a 14.91% 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. Insiders have sold a total of 16,417 shares of company stock worth $3,559,726 over the last quarter. Company insiders own 0.70% of the company’s stock.

About TD SYNNEX

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.