TD SYNNEX Corporation $SNX Stock Holdings Lifted by CenterBook Partners LP

CenterBook Partners LP grew its position in TD SYNNEX Corporation (NYSE:SNX) by 160.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,439 shares of the business services provider’s stock after purchasing an additional 4,586 shares during the period. CenterBook Partners LP’s holdings in TD SYNNEX were worth $1,118,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ossiam increased its holdings in TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Dorato Capital Management acquired a new stake in TD SYNNEX in the fourth quarter valued at approximately $27,000. Measured Wealth Private Client Group LLC bought a new stake in TD SYNNEX in the third quarter worth approximately $30,000. Lloyd Advisory Services LLC. acquired a new position in shares of TD SYNNEX during the 4th quarter worth $32,000. Finally, Brown Brothers Harriman & Co. increased its stake 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 worth $37,000 after purchasing an additional 196 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total value of $1,401,900.00. Following the sale, the director owned 23,537 shares in the company, valued at approximately $6,599,304.06. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Miriam Anne Murphy sold 3,025 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the transaction, the insider owned 10,820 shares of the company’s stock, valued at approximately $2,165,514.80. The trade was a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 21,250 shares of company stock valued at $4,935,282. 0.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNX. The Goldman Sachs Group lifted their price objective on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Morgan Stanley raised their target price on TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a report on Friday, March 20th. UBS Group boosted their price target on TD SYNNEX from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target for the company in a research note on Wednesday, May 27th. Finally, Barrington Research reissued an “outperform” rating and set a $182.00 price objective on shares of TD SYNNEX in a report on Friday, March 27th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $223.60.

TD SYNNEX Stock Down 1.5%

SNX stock opened at $268.84 on Thursday. 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 52-week low of $122.96 and a 52-week high of $286.25. The company has a 50-day moving average of $228.89 and a two-hundred day moving average of $181.52. The stock has a market capitalization of $21.61 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 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 analyst estimates of $15.59 billion. During the same period in the previous year, the company posted $2.80 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities research analysts anticipate that TD SYNNEX Corporation will post 15.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio is currently 15.96%.

TD SYNNEX 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.