Intech Investment Management LLC Acquires 5,982 Shares of TD SYNNEX Corporation $SNX

Key Points

• Intech Investment Management LLC increased its TD SYNNEX stake by 38.4% in the fourth quarter, buying 5,982 additional shares and bringing its total holdings to 21,578 shares worth about $3.24 million.
• TD SYNNEX has seen strong analyst support, with multiple firms raising price targets and the stock carrying a consensus “Buy” rating and average target price of $212.60.
• The company recently reported better-than-expected earnings, posting $4.73 EPS on $17.16 billion in revenue, while also paying a quarterly dividend of $0.48 per share.

Intech Investment Management LLC raised its holdings in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 38.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,578 shares of the business services provider's stock after acquiring an additional 5,982 shares during the quarter. Intech Investment Management LLC's holdings in TD SYNNEX were worth $3,242,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ossiam increased its holdings in shares of TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Dorato Capital Management bought a new stake in shares of TD SYNNEX in the fourth quarter worth about $27,000. Measured Wealth Private Client Group LLC bought a new stake in shares of TD SYNNEX in the third quarter worth about $30,000. Lloyd Advisory Services LLC. bought a new stake in shares of TD SYNNEX in the fourth quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of TD SYNNEX by 675.9% in the third quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider's stock worth $37,000 after purchasing an additional 196 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SNX has been the topic of several research reports. Morgan Stanley lifted their target price on TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a report on Friday, March 20th. Wall Street Zen raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. The Goldman Sachs Group lifted their price target on TD SYNNEX from $180.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, April 2nd. Barclays lifted their price target on TD SYNNEX from $166.00 to $237.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Barrington Research reiterated an "outperform" rating and issued a $182.00 price target on shares of TD SYNNEX in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $212.60.

TD SYNNEX Stock Up 3.5%

Shares of NYSE:SNX opened at $270.48 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The firm has a market capitalization of $21.74 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 1.13 and a beta of 1.40. The business has a 50 day simple moving average of $212.80 and a two-hundred day simple moving average of $175.31. TD SYNNEX Corporation has a 1 year low of $118.35 and a 1 year high of $273.24.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.24 by $1.49. The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.TD SYNNEX's quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 earnings per share. On average, equities analysts predict that TD SYNNEX Corporation will post 15.88 EPS for the current 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 paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. TD SYNNEX's payout ratio is 15.96%.

Insider Buying and Selling at TD SYNNEX

In other news, CFO David Gregory Jordan sold 3,225 shares of the company's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $189.46, for a total transaction of $611,008.50. Following the transaction, the chief financial officer directly owned 14,035 shares of the company's stock, valued at approximately $2,659,071.10. This represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $229.54, for a total value of $1,147,700.00. Following the transaction, the director directly owned 28,537 shares in the company, valued at approximately $6,550,382.98. The trade was a 14.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 16,417 shares of company stock worth $3,559,726. 0.70% of the stock is currently owned by corporate insiders.

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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