Summit Global Investments purchased a new stake in TD SYNNEX Corporation (NYSE:SNX – Free Report) during the 2nd quarter, according to its most recent 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.
Other hedge funds have also modified their holdings of the company. Gamco Investors INC. ET AL raised its position in shares of TD SYNNEX by 1.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 4,667 shares of the business services provider’s stock worth $787,000 after purchasing an additional 52 shares during the last quarter. Essex Financial Services Inc. lifted its stake in TD SYNNEX by 2.9% in the 1st quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider’s stock valued at $330,000 after buying an additional 56 shares in the last quarter. Kesler Norman & Wride LLC grew its holdings in TD SYNNEX by 0.7% during the 1st quarter. Kesler Norman & Wride LLC now owns 8,581 shares of the business services provider’s stock valued at $1,448,000 after buying an additional 61 shares during the last quarter. SJS Investment Consulting Inc. increased its position in TD SYNNEX by 44.6% during the first quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock worth $34,000 after buying an additional 62 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC increased its position in TD SYNNEX by 3.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider’s stock worth $317,000 after buying an additional 71 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
SNX has been the topic of several recent research reports. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective on the stock in a research report on Wednesday, May 27th. Royal Bank Of Canada set a $340.00 price objective on TD SYNNEX in a research report on Friday, June 26th. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a research note on Friday, June 26th. Barclays upped their target price on shares of TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. Finally, Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $294.67.
TD SYNNEX Price Performance
SNX stock opened at $258.79 on Friday. TD SYNNEX Corporation has a 52-week low of $142.22 and a 52-week high of $296.47. The stock’s fifty day simple moving average is $259.82 and its 200-day simple moving average is $216.49. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40. 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 – Get Free Report) last released its earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The firm had revenue of $19.57 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same period in the prior year, the firm posted $2.99 earnings per share. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Equities research analysts expect that TD SYNNEX Corporation will post 18.01 EPS for the current year.
TD SYNNEX Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a $0.48 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.7%. TD SYNNEX’s payout ratio is 13.74%.
Insider Transactions at TD SYNNEX
In other news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the transaction, the director directly owned 18,537 shares in the company, valued at $4,503,934.89. This represents a 21.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the sale, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 21,273 shares of company stock valued at $5,401,452. Corporate insiders own 0.70% of the company’s stock.
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.
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