TD SYNNEX Corporation $SNX Stake Cut by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC reduced its holdings in TD SYNNEX Corporation by 18.2%, owning 23,262 shares worth $2.4 million after selling 5,193 shares in the first quarter.
• Most analysts maintain a strong outlook on TD SYNNEX, with a consensus rating of "Moderate Buy" and an average price target of $151.30, highlighting positive growth projections for the company.
• TD SYNNEX reported better-than-expected earnings of $2.99 per share for the latest quarter, exceeding estimates and showing a 7.2% year-over-year revenue increase.

Intech Investment Management LLC cut its stake in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) by 18.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,262 shares of the business services provider's stock after selling 5,193 shares during the period. Intech Investment Management LLC's holdings in TD SYNNEX were worth $2,418,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNX. JPMorgan Chase & Co. raised its stake in shares of TD SYNNEX by 16.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider's stock worth $405,441,000 after buying an additional 564,473 shares in the last quarter. Abrams Bison Investments LLC raised its stake in shares of TD SYNNEX by 19.4% during the 1st quarter. Abrams Bison Investments LLC now owns 2,683,000 shares of the business services provider's stock worth $278,925,000 after buying an additional 435,000 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of TD SYNNEX by 8.5% during the 1st quarter. Ninety One UK Ltd now owns 2,565,191 shares of the business services provider's stock worth $266,677,000 after buying an additional 200,628 shares in the last quarter. LSV Asset Management boosted its holdings in TD SYNNEX by 10.3% during the first quarter. LSV Asset Management now owns 1,891,769 shares of the business services provider's stock worth $196,668,000 after buying an additional 175,922 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in TD SYNNEX during the first quarter worth about $121,259,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 63,310 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $136.23, for a total transaction of $8,624,721.30. Following the transaction, the director directly owned 67,515 shares in the company, valued at $9,197,568.45. This represents a 48.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ann F. Vezina sold 812 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total value of $122,141.04. Following the completion of the sale, the director directly owned 6,079 shares of the company's stock, valued at approximately $914,403.18. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,240 shares of company stock valued at $9,054,884. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SNX. Loop Capital raised their price objective on TD SYNNEX from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, June 30th. Royal Bank Of Canada lifted their target price on shares of TD SYNNEX from $145.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, August 22nd. Barclays set a $140.00 target price on shares of TD SYNNEX in a report on Tuesday, June 24th. Barrington Research reiterated an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a report on Friday, July 11th. Finally, Wall Street Zen upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $153.10.

TD SYNNEX Stock Up 1.5%

Shares of NYSE SNX traded up $2.22 on Thursday, hitting $150.69. The company had a trading volume of 1,303,715 shares, compared to its average volume of 775,594. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average of $146.71 and a two-hundred day moving average of $129.58. The firm has a market capitalization of $12.43 billion, a P/E ratio of 17.60, a PEG ratio of 1.22 and a beta of 1.35. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $154.44.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The company had revenue of $14.95 billion during the quarter, compared to analysts' expectations of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.73 EPS. TD SYNNEX has set its Q3 2025 guidance at 2.750-3.250 EPS. As a group, equities research analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 11th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, July 11th. TD SYNNEX's dividend payout ratio is 20.56%.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.