Janney Montgomery Scott LLC Sells 2,495 Shares of TD SYNNEX Corporation $SNX

Janney Montgomery Scott LLC cut its position in TD SYNNEX Corporation (NYSE:SNX) by 22.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,818 shares of the business services provider’s stock after selling 2,495 shares during the period. Janney Montgomery Scott LLC’s holdings in TD SYNNEX were worth $1,488,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SNX. State Street Corp boosted its holdings in shares of TD SYNNEX by 0.4% in 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 in the last quarter. Ninety One UK Ltd raised its position in TD SYNNEX by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock valued at $334,876,000 after purchasing an additional 258,630 shares during the last quarter. LSV Asset Management raised its position in TD SYNNEX by 16.1% in the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after purchasing an additional 288,625 shares during the last quarter. Geode Capital Management LLC boosted its stake in TD SYNNEX by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock worth $230,315,000 after purchasing an additional 99,090 shares in the last quarter. Finally, Metropolis Capital Ltd grew its holdings in shares of TD SYNNEX by 9.5% during the first quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider’s stock worth $216,169,000 after purchasing an additional 111,222 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $242.97, for a total value of $1,214,850.00. Following the completion of the sale, the director directly owned 18,537 shares of the company’s stock, valued at $4,503,934.89. This trade represents a 21.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,000 shares of company stock worth $4,933,700 over the last three months. 0.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports 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. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a research report on Friday, June 26th. Barrington Research raised their price target on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 26th. JPMorgan Chase & Co. raised TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective for the company in a report on Wednesday, May 27th. Finally, Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of “Buy” and a consensus target price of $294.67.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $252.48 on Friday. TD SYNNEX Corporation has a 12 month low of $139.23 and a 12 month high of $296.47. The company’s fifty day simple moving average is $255.92 and its 200-day simple moving average is $199.01. 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 firm has a market cap of $20.19 billion, a PE ratio of 18.07, a P/E/G ratio of 0.71 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, topping the consensus estimate of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The business had revenue of $19.57 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the previous year, the firm posted $2.99 earnings per share. The company’s revenue for the quarter was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Equities research analysts expect that TD SYNNEX Corporation will post 18.02 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

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

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.