Delphi Management Inc. MA Has $1.34 Million Position in TD SYNNEX Corporation $SNX

Delphi Management Inc. MA trimmed its stake in shares of TD SYNNEX Corporation (NYSE:SNX) by 19.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,922 shares of the business services provider’s stock after selling 1,955 shares during the period. TD SYNNEX makes up about 1.6% of Delphi Management Inc. MA’s investment portfolio, making the stock its 6th biggest position. Delphi Management Inc. MA’s holdings in TD SYNNEX were worth $1,337,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Heritage Wealth Management Inc. acquired a new position in TD SYNNEX during the 1st quarter worth $203,000. BTC Capital Management Inc. increased its stake in shares of TD SYNNEX by 16.1% in the 1st quarter. BTC Capital Management Inc. now owns 3,497 shares of the business services provider’s stock valued at $590,000 after buying an additional 485 shares during the period. Blue Trust Inc. raised its position in shares of TD SYNNEX by 36.7% during the first quarter. Blue Trust Inc. now owns 656 shares of the business services provider’s stock worth $111,000 after acquiring an additional 176 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of TD SYNNEX by 46.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 3,531 shares of the business services provider’s stock worth $596,000 after acquiring an additional 1,126 shares during the last quarter. Finally, OP Asset Management Ltd acquired a new position in shares of TD SYNNEX during the first quarter valued at $9,890,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insiders Place Their Bets

In other news, CFO David Gregory Jordan sold 3,225 shares of TD SYNNEX stock in a transaction on Monday, April 6th. The shares were sold at an average price of $189.46, for a total transaction of $611,008.50. Following the transaction, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at $2,659,071.10. This trade represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Miriam Anne Murphy sold 3,025 shares of the business’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 completion of the transaction, the insider directly owned 10,820 shares of the company’s stock, valued at $2,165,514.80. This trade represents a 21.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over 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.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SNX shares. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. Morgan Stanley raised their target price on shares of TD SYNNEX from $271.00 to $341.00 and gave the company an “overweight” rating in a research note on Tuesday. Barrington Research reissued an “outperform” rating on shares of TD SYNNEX in a research note on Tuesday, June 16th. Finally, UBS Group increased their price objective on shares of TD SYNNEX from $265.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.80.

TD SYNNEX Trading Down 2.8%

NYSE:SNX opened at $282.13 on Thursday. TD SYNNEX Corporation has a 1-year low of $133.71 and a 1-year high of $296.47. The business’s 50-day moving average price is $247.10 and its two-hundred day moving average price is $190.78. 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 has a market capitalization of $22.68 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.19 and a beta of 1.43.

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, topping analysts’ consensus estimates of $3.24 by $1.49. The firm had revenue of $17.16 billion for 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 company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.80 earnings per share. On average, equities analysts expect that TD SYNNEX Corporation will post 15.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

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