TD SYNNEX Corporation $SNX Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in TD SYNNEX Corporation (NYSE:SNX) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 307,775 shares of the business services provider’s stock after selling 27,729 shares during the period. Allspring Global Investments Holdings LLC’s holdings in TD SYNNEX were worth $57,335,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SNX. Norges Bank acquired a new position in shares of TD SYNNEX during the fourth quarter valued at $148,559,000. Alyeska Investment Group L.P. acquired a new position in TD SYNNEX during the 3rd quarter valued at about $135,631,000. AQR Capital Management LLC grew its position in 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 purchasing an additional 548,180 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in TD SYNNEX in the 4th quarter worth about $60,104,000. Finally, Marshall Wace LLP increased its stake 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 purchasing an additional 396,766 shares during the period. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Price Performance

NYSE:SNX opened at $242.77 on Friday. The business’s 50-day moving average price is $257.36 and its 200 day moving average price is $202.32. The firm has a market cap of $19.41 billion, a P/E ratio of 17.38, a PEG ratio of 0.68 and a beta of 1.43. TD SYNNEX Corporation has a 52-week low of $139.23 and a 52-week high of $296.47. 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 (NYSE:SNX) last issued its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, beating 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 company had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the prior year, the company earned $2.99 EPS. TD SYNNEX’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. As a group, sell-side analysts predict that TD SYNNEX Corporation will post 18.02 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX’s dividend payout ratio is currently 13.74%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays lifted 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. Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Barrington Research lifted their target price on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. 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 report on Wednesday, May 27th. Finally, The Goldman Sachs Group set a $330.00 price target on TD SYNNEX in a research note on Friday, June 26th. One 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’s stock. Based on data from MarketBeat, TD SYNNEX has a consensus rating of “Buy” and an average price target of $294.67.

Insider Buying and Selling

In related news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director directly owned 18,537 shares in the company, valued at approximately $4,503,934.89. This trade represents a 21.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,000 shares of company stock worth $4,933,700 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

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.