TD SYNNEX Corporation $SNX Holdings Increased by Bank of Nova Scotia

Bank of Nova Scotia boosted its position in TD SYNNEX Corporation (NYSE:SNX - Free Report) by 85.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,404 shares of the business services provider's stock after purchasing an additional 14,472 shares during the period. Bank of Nova Scotia's holdings in TD SYNNEX were worth $5,298,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SNX. Ossiam lifted its stake in TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Dorato Capital Management acquired a new position in TD SYNNEX in the fourth quarter worth approximately $27,000. Measured Wealth Private Client Group LLC bought a new position in shares of TD SYNNEX in the third quarter valued at $30,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of TD SYNNEX during the 4th quarter valued at $28,000. Finally, SJS Investment Consulting Inc. lifted its position in shares of TD SYNNEX by 44.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider's stock valued at $34,000 after acquiring an additional 62 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Richard T. Hume sold 5,000 shares of the business's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the transaction, the director directly owned 18,537 shares in the company, valued at $4,503,934.89. The trade was a 21.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 20,000 shares of company stock worth $4,933,700. Insiders own 0.70% of the company's stock.

TD SYNNEX Stock Performance

Shares of SNX opened at $244.92 on Tuesday. The firm has a market cap of $19.58 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 0.69 and a beta of 1.43. TD SYNNEX Corporation has a 12 month low of $139.23 and a 12 month high of $296.47. The company's fifty day moving average is $259.02 and its 200-day moving average is $206.64. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

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

TD SYNNEX Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on SNX shares. UBS Group increased their price target on TD SYNNEX from $310.00 to $352.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Zacks Research raised shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. Barclays raised their target price 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. Barrington Research lifted their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an "outperform" rating in a research report on Friday, June 26th. Finally, Weiss Ratings downgraded shares of TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock 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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