10,030 Shares in TD SYNNEX Corporation $SNX Acquired by R Squared Ltd

Key Points

• R Squared Ltd purchased a new position of 10,030 shares of TD SYNNEX in Q4 (≈$1.507M), making the stock 0.7% of its portfolio and its 23rd-largest holding.
• TD SYNNEX reported quarterly EPS of $4.73 (vs. $3.24 expected) and revenue of $17.16B (vs. $15.59B expected), with revenue up 18.1% year-over-year.
• Multiple analysts raised targets and ratings; consensus is a Moderate Buy with a $186.50 target, while the stock trades near its 52-week high (~$225.81).

R Squared Ltd purchased a new position in TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,030 shares of the business services provider's stock, valued at approximately $1,507,000. TD SYNNEX comprises 0.7% of R Squared Ltd's investment portfolio, making the stock its 23rd largest position.

Several other large investors have also recently added to or reduced their stakes in SNX. Alyeska Investment Group L.P. acquired a new stake in TD SYNNEX in the 3rd quarter valued at approximately $135,631,000. Victory Capital Management Inc. increased its position in TD SYNNEX by 123.6% in the 3rd quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider's stock valued at $119,263,000 after acquiring an additional 402,573 shares during the period. Wedge Capital Management L L P NC acquired a new stake in TD SYNNEX in the 4th quarter valued at approximately $60,104,000. Marshall Wace LLP increased its position in TD SYNNEX by 6,626.0% in the 3rd quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider's stock valued at $65,951,000 after acquiring an additional 396,766 shares during the period. Finally, Metropolis Capital Ltd increased its position in TD SYNNEX by 44.8% in the 3rd quarter. Metropolis Capital Ltd now owns 1,228,603 shares of the business services provider's stock valued at $201,184,000 after acquiring an additional 379,904 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group raised their target price on TD SYNNEX from $187.00 to $193.00 and gave the company a "buy" rating in a research report on Friday, January 9th. Royal Bank Of Canada raised their target price on TD SYNNEX from $180.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, April 1st. Zacks Research upgraded TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 6th. Barclays raised their target price on TD SYNNEX from $163.00 to $166.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 1st. Finally, Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, TD SYNNEX has an average rating of "Moderate Buy" and a consensus target price of $186.50.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $225.81 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $18.15 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.15 and a beta of 1.23. The stock's fifty day simple moving average is $176.30 and its 200 day simple moving average is $161.92. TD SYNNEX Corporation has a 52-week low of $108.19 and a 52-week high of $229.47.

TD SYNNEX (NYSE:SNX - Get Free Report) 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 business 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 quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.80 EPS. As a group, sell-side analysts forecast that TD SYNNEX Corporation will post 15.69 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, April 15th. TD SYNNEX's payout ratio is presently 15.96%.

Insiders Place Their Bets

In related news, CEO Patrick Zammit sold 13,900 shares of TD SYNNEX stock in a transaction on Friday, February 6th. The stock was sold at an average price of $171.57, for a total value of $2,384,823.00. Following the transaction, the chief executive officer directly owned 170,928 shares in the company, valued at $29,326,116.96. The trade was a 7.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Miriam Anne Murphy sold 3,025 shares of TD SYNNEX stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $200.14, for a total value of $605,423.50. Following the completion of the transaction, the insider owned 10,820 shares in the company, valued at $2,165,514.80. The trade was a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 82,165 shares of company stock worth $13,559,368. Corporate insiders own 0.70% of the company's stock.

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.

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