Summit Global Investments Takes Position in TD SYNNEX Corporation $SNX

Summit Global Investments purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,005 shares of the business services provider’s stock, valued at approximately $536,000.

Several other hedge funds have also recently modified their holdings of SNX. Norges Bank acquired a new position in TD SYNNEX in the 4th quarter valued at $148,559,000. Alyeska Investment Group L.P. acquired a new stake in shares of TD SYNNEX in the 3rd quarter worth $135,631,000. AQR Capital Management LLC lifted its stake in shares of TD SYNNEX by 141.8% in the 4th quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock worth $140,431,000 after acquiring an additional 548,180 shares during the period. Marshall Wace LLP boosted its holdings in shares of TD SYNNEX by 6,626.0% in the third quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider’s stock valued at $65,951,000 after acquiring an additional 396,766 shares in the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of TD SYNNEX by 4,021.1% during the first quarter. Pacer Advisors Inc. now owns 366,652 shares of the business services provider’s stock worth $61,858,000 after acquiring an additional 357,755 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on SNX. JPMorgan Chase & Co. raised shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target for the company in a report on Wednesday, May 27th. Morgan Stanley lifted their price objective on TD SYNNEX from $341.00 to $374.00 and gave the company an “overweight” rating in a report on Friday, June 26th. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a research report on Friday, June 26th. Barrington Research increased their target price on TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Finally, Barclays raised their price target on TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $294.67.

TD SYNNEX Stock Up 1.7%

Shares of NYSE SNX opened at $258.79 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. TD SYNNEX Corporation has a 52 week low of $142.22 and a 52 week high of $296.47. The firm has a 50-day moving average price of $259.82 and a 200 day moving average price of $216.49. The stock has a market capitalization of $20.69 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm had revenue of $19.57 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same quarter in the previous year, the firm earned $2.99 earnings per share. The firm’s revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Equities research analysts anticipate that TD SYNNEX Corporation will post 18.01 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. TD SYNNEX’s payout ratio is 13.74%.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the completion of the transaction, the director directly owned 13,537 shares of the company’s stock, valued at approximately $3,549,536.77. The trade was a 26.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the sale, the director owned 5,828 shares in the company, valued at approximately $1,492,259.40. The trade was a 17.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 21,273 shares of company stock worth $5,401,452. 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.