TD SYNNEX Corporation $SNX Stock Acquired by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its TD SYNNEX stake by 37.4% in the third quarter, ending the period with 411,017 shares valued at about $111.7 million. Institutional investors collectively own 84% of the stock.
• TD SYNNEX reported quarterly EPS of $5.68, above the $4.70 consensus estimate, and revenue of $21.56 billion, up 37.7% year over year. The company guided to Q4 EPS of $5.65–$6.15.
• Analysts have a consensus Buy rating and a $331.14 average price target; the company also declared a quarterly dividend of $0.48 per share.

Allspring Global Investments Holdings LLC grew its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 37.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 411,017 shares of the business services provider's stock after acquiring an additional 111,942 shares during the period. Allspring Global Investments Holdings LLC owned 0.52% of TD SYNNEX worth $111,698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SNX. BlackRock Inc. purchased a new stake in TD SYNNEX in the second quarter valued at approximately $1,958,683,000. Ninety One UK Ltd boosted its position in TD SYNNEX by 9.8% during the third quarter. Ninety One UK Ltd now owns 1,810,800 shares of the business services provider's stock valued at $465,104,000 after buying an additional 162,116 shares during the period. Bank of New York Mellon Corp purchased a new stake in TD SYNNEX during the 2nd quarter valued at about $149,728,000. Metropolis Capital Ltd boosted its holdings in TD SYNNEX by 44.6% during the 3rd quarter. Metropolis Capital Ltd now owns 524,865 shares of the business services provider's stock valued at $134,812,000 after acquiring an additional 161,902 shares during the period. Finally, Principal Financial Group Inc. grew its position in TD SYNNEX by 8.1% during the 1st quarter. Principal Financial Group Inc. now owns 684,004 shares of the business services provider's stock worth $115,406,000 after acquiring an additional 51,303 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Alim Dhanji sold 3,775 shares of the company's stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $241.01, for a total transaction of $909,812.75. Following the completion of the sale, the insider owned 11,712 shares in the company, valued at approximately $2,822,709.12. This represents a 24.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

TD SYNNEX Stock Performance

Shares of SNX opened at $228.63 on Tuesday. The business's 50 day moving average price is $257.25 and its 200-day moving average price is $227.76. The company has a quick ratio of 0.64, a current ratio of 1.19 and a debt-to-equity ratio of 0.39. The stock has a market cap of $18.24 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.46 and a beta of 1.43. TD SYNNEX Corporation has a 52 week low of $142.22 and a 52 week high of $298.77.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, September 24th. The business services provider reported $5.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.98. The business had revenue of $21.56 billion during the quarter, compared to analysts' expectations of $18.91 billion. TD SYNNEX had a net margin of 1.75% and a return on equity of 16.78%. The business's revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.58 earnings per share. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. Equities research analysts anticipate that TD SYNNEX Corporation will post 20.35 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were issued 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 of this dividend was Friday, October 16th. TD SYNNEX's dividend payout ratio is presently 11.70%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SNX. Weiss Ratings cut shares of TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday, October 23rd. Barclays boosted their price objective on shares of TD SYNNEX from $278.00 to $287.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 8th. UBS Group increased their target price on shares of TD SYNNEX from $352.00 to $379.00 and gave the stock a "buy" rating in a report on Friday, September 25th. Morgan Stanley raised their price target on TD SYNNEX from $334.00 to $359.00 and gave the stock an "overweight" rating in a research note on Friday, September 25th. Finally, Zacks Research upgraded shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of "Buy" and a consensus price target of $331.14.

TD SYNNEX Profile

TD SYNNEX is a global distributor and solutions aggregator serving the information technology industry. The company connects technology vendors with channel partners, including resellers, systems integrators, managed service providers and retailers.

Its offerings span hardware, software and services across areas such as cloud computing, cybersecurity, data center infrastructure, networking and end-user computing. TD SYNNEX also provides partners with services that can support technology deployment, integration and ongoing management.

The company was formed in 2021 through the combination of Tech Data and Synnex.

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