Aigen Investment Management LP Makes New Investment in TD SYNNEX Corporation $SNX

Aigen Investment Management LP acquired a new position in shares of TD SYNNEX Corporation (NYSE:SNX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,651 shares of the business services provider’s stock, valued at approximately $2,051,000.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in TD SYNNEX by 0.4% during the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock worth $388,535,000 after acquiring an additional 9,024 shares during the last quarter. Ninety One UK Ltd boosted its holdings in TD SYNNEX by 13.1% during the 4th quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock worth $334,876,000 after acquiring an additional 258,630 shares during the last quarter. LSV Asset Management boosted its holdings in TD SYNNEX by 16.1% during the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock worth $313,471,000 after acquiring an additional 288,625 shares during the last quarter. Geode Capital Management LLC boosted its holdings in TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock worth $230,315,000 after acquiring an additional 99,090 shares during the last quarter. Finally, Nuveen LLC boosted its holdings in TD SYNNEX by 3.8% during the 4th quarter. Nuveen LLC now owns 1,136,085 shares of the business services provider’s stock worth $170,674,000 after acquiring an additional 41,679 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TD SYNNEX

In related news, CFO David Gregory Jordan sold 3,225 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the sale, the chief financial officer directly owned 14,035 shares in the company, valued at approximately $2,659,071.10. The trade was a 18.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 23,537 shares in the company, valued at $6,599,304.06. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 21,250 shares of company stock worth $4,935,282. Company insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of TD SYNNEX from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group lifted their price objective on shares of TD SYNNEX from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Barrington Research reaffirmed an “outperform” rating and set a $182.00 price objective on shares of TD SYNNEX in a report on Friday, March 27th. Morgan Stanley lifted their target price on TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Finally, Barclays lifted their target price on TD SYNNEX from $166.00 to $237.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Nine research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $233.10.

TD SYNNEX Trading Up 1.4%

NYSE SNX opened at $280.91 on Friday. The stock has a market capitalization of $22.58 billion, a price-to-earnings ratio of 23.35, a PEG ratio of 1.21 and a beta of 1.43. TD SYNNEX Corporation has a one year low of $122.96 and a one year high of $286.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The business’s fifty day moving average is $232.97 and its 200-day moving average is $183.13.

TD SYNNEX (NYSE:SNX) last released its earnings results 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 company had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $15.59 billion. During the same period in the previous year, the business posted $2.80 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities research analysts predict that TD SYNNEX Corporation will post 15.88 EPS for the current year.

TD SYNNEX Announces Dividend

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

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.