29,913 Shares in TD SYNNEX Corporation $SNX Acquired by Qsemble Capital Management LP

Key Points

• Qsemble Capital Management LP opened a new position in TD SYNNEX, buying 29,913 shares in the fourth quarter worth about $4.49 million.
• TD SYNNEX posted strong quarterly results, with EPS of $4.73 beating estimates and revenue of $17.16 billion, up 18.1% from a year ago.
• The company paid a quarterly dividend of $0.48 per share and has also seen mixed insider activity, including recent share sales by directors and executives.

Qsemble Capital Management LP bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 29,913 shares of the business services provider's stock, valued at approximately $4,494,000.

A number of other institutional investors have also made changes to their positions in SNX. Dorato Capital Management acquired a new position in shares of TD SYNNEX during the 4th quarter worth approximately $27,000. Ossiam increased its holdings in shares of TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Measured Wealth Private Client Group LLC acquired a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $30,000. Brown Brothers Harriman & Co. increased its holdings in shares of TD SYNNEX by 675.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider's stock worth $37,000 after acquiring an additional 196 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new position in TD SYNNEX in the 3rd quarter valued at $42,000. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

NYSE:SNX opened at $230.05 on Friday. The stock has a fifty day moving average price of $193.84 and a 200-day moving average price of $168.39. The company has a market cap of $18.49 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.02 and a beta of 1.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. TD SYNNEX Corporation has a fifty-two week low of $118.35 and a fifty-two week high of $242.49.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, beating analysts' consensus estimates of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the prior year, the company posted $2.80 EPS. The company's revenue was up 18.1% compared to the same quarter last year. As a group, equities analysts anticipate that TD SYNNEX Corporation will post 15.69 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX's dividend payout ratio is currently 15.96%.

Insiders Place Their Bets

In related news, Director Merline Saintil sold 167 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $157.75, for a total transaction of $26,344.25. Following the completion of the sale, the director directly owned 6,995 shares in the company, valued at $1,103,461.25. This represents a 2.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the company's 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 sale, the insider owned 10,820 shares of the company's stock, valued at approximately $2,165,514.80. This represents a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,417 shares of company stock valued at $2,412,026 in the last quarter. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on SNX. Zacks Research raised TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. UBS Group upped their price objective on TD SYNNEX from $193.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. Barclays upped their price objective on TD SYNNEX from $163.00 to $166.00 and gave the company an "equal weight" rating in a report on Wednesday, April 1st. Barrington Research reaffirmed an "outperform" rating and issued a $182.00 price objective on shares of TD SYNNEX in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. upped their price objective on TD SYNNEX from $185.00 to $220.00 and gave the company a "neutral" rating in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $197.70.

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.

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