Deutsche Bank AG Acquires Shares of 26,729 TD SYNNEX Corporation $SNX

Key Points

• Deutsche Bank acquired 26,729 TD SYNNEX shares worth approximately $7.1 million in the second quarter, while institutional investors collectively own 84% of the stock.
• TD SYNNEX reported quarterly EPS of $4.85, beating estimates of $4.14, and revenue of $19.57 billion, up 31% year over year. The company also issued a quarterly dividend of $0.48 per share, representing a 0.8% yield.
• Analysts maintain a consensus “Buy” rating with an average price target of $294.67, although insiders sold 16,273 shares worth about $4.25 million over the past 90 days.

Deutsche Bank AG bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 26,729 shares of the business services provider's stock, valued at approximately $7,146,000.

Several other large investors have also recently modified their holdings of SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in TD SYNNEX by 9.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider's stock worth $1,749,000 after buying an additional 1,460 shares during the period. Goldman Sachs Group Inc. raised its holdings in TD SYNNEX by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider's stock valued at $18,631,000 after acquiring an additional 9,815 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of TD SYNNEX by 6.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider's stock worth $21,226,000 after acquiring an additional 12,615 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of TD SYNNEX during the second quarter worth $818,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of TD SYNNEX by 17.4% in the second quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider's stock worth $116,000 after acquiring an additional 126 shares during the period. Hedge funds and other institutional investors own 84.00% of the company's stock.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 5,000 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total value of $1,311,050.00. Following the completion of the sale, the director owned 13,537 shares of the company's stock, valued at approximately $3,549,536.77. This represents a 26.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the transaction, the director directly owned 5,828 shares in the company, valued at approximately $1,492,259.40. This represents a 17.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,273 shares of company stock valued at $4,253,752 in the last ninety days. 0.70% of the stock is owned by corporate insiders.

TD SYNNEX Price Performance

SNX opened at $243.88 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $19.50 billion, a P/E ratio of 17.46, a PEG ratio of 0.71 and a beta of 1.44. The stock has a 50-day moving average price of $257.12 and a 200-day moving average price of $220.87. TD SYNNEX Corporation has a 12-month low of $142.22 and a 12-month high of $296.47.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, topping analysts' consensus estimates of $4.14 by $0.71. The company had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.TD SYNNEX's quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Equities analysts predict that TD SYNNEX Corporation will post 18.01 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, July 17th. TD SYNNEX's payout ratio is presently 13.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price objective on the stock in a research note on Wednesday, May 27th. Weiss Ratings downgraded TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research note on Wednesday, June 17th. Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a research report on Friday, June 26th. Barclays increased their price target on shares of TD SYNNEX from $237.00 to $278.00 and gave the stock an "equal weight" rating in a report on Thursday, July 2nd. Finally, UBS Group raised their price objective on shares of TD SYNNEX from $310.00 to $352.00 and gave the company a "buy" rating in a research report 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $294.67.

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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