13,651 Shares in TD SYNNEX Corporation $SNX Acquired by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP initiated a new position in TD SYNNEX, buying 13,651 shares worth about $2.05 million in the fourth quarter.
• TD SYNNEX reported a strong quarter, with EPS of $4.73 versus the $3.24 estimate and revenue of $17.16 billion, up 18.1% year over year.
• Analysts remain constructive on the stock, with several firms raising price targets and the consensus rating sitting at Moderate Buy with a target of $233.10.

Aigen Investment Management LP bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,651 shares of the business services provider's stock, valued at approximately $2,051,000.

Several other hedge funds have also added to or reduced their stakes in SNX. Concentric Capital Strategies LP bought a new position in TD SYNNEX during the 3rd quarter worth approximately $18,036,000. Envestnet Asset Management Inc. raised its holdings in TD SYNNEX by 11.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 82,977 shares of the business services provider's stock worth $13,587,000 after purchasing an additional 8,264 shares during the last quarter. Fieldview Capital Management LLC bought a new position in TD SYNNEX during the 3rd quarter worth approximately $1,318,000. Citigroup Inc. raised its holdings in TD SYNNEX by 12.0% during the 3rd quarter. Citigroup Inc. now owns 83,103 shares of the business services provider's stock worth $13,608,000 after purchasing an additional 8,914 shares during the last quarter. Finally, Algert Global LLC bought a new position in TD SYNNEX during the 3rd quarter worth approximately $7,140,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at TD SYNNEX

In related 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 value of $611,008.50. Following the completion of the sale, the chief financial officer owned 14,035 shares of the company's stock, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the completion of the sale, the director directly owned 23,537 shares of the company's stock, valued at approximately $6,599,304.06. The trade was a 17.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 21,250 shares of company stock valued at $4,935,282. 0.70% of the stock is owned by company insiders.

TD SYNNEX Stock Performance

NYSE:SNX opened at $280.91 on Friday. The company has a fifty day moving average of $232.97 and a 200-day moving average of $183.13. The firm has a market capitalization of $22.58 billion, a P/E ratio of 23.35, a P/E/G ratio of 1.21 and a beta of 1.43. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. TD SYNNEX Corporation has a twelve month low of $122.96 and a twelve month high of $286.25.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, beating the consensus estimate of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The company had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same quarter in the previous year, the business posted $2.80 EPS. TD SYNNEX's revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that TD SYNNEX Corporation will post 15.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a $0.48 dividend. The ex-dividend date of this dividend 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 presently 15.96%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Barrington Research restated an "outperform" rating and set a $182.00 price target on shares of TD SYNNEX in a report on Friday, March 27th. The Goldman Sachs Group raised their price target 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 raised their price target 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. Royal Bank Of Canada raised their price target on shares of TD SYNNEX from $250.00 to $315.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Weiss Ratings upgraded shares of TD SYNNEX from a "buy (b)" rating to a "buy (b+)" rating in a report on Tuesday, June 2nd. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.10.

TD SYNNEX 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.

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