Trexquant Investment LP Purchases New Stake in TD SYNNEX Corporation $SNX

Key Points

• Trexquant Investment LP has acquired a new stake in TD SYNNEX Corporation, purchasing 30,662 shares valued at approximately $3,188,000 in the first quarter.
• Insider transactions saw Director Richard T. Hume sell 63,310 shares for over $8.6 million, reducing his ownership stake by 48.39%.
• TD SYNNEX reported strong earnings, with a $2.99 EPS for the quarter, exceeding estimates and showing a 7.2% year-over-year revenue growth.

Trexquant Investment LP acquired a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 30,662 shares of the business services provider's stock, valued at approximately $3,188,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SNX. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of TD SYNNEX by 329.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after purchasing an additional 188 shares during the last quarter. Versant Capital Management Inc increased its position in shares of TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of TD SYNNEX during the 1st quarter worth about $44,000. State of Wyoming increased its position in shares of TD SYNNEX by 51.9% during the 4th quarter. State of Wyoming now owns 594 shares of the business services provider's stock worth $70,000 after purchasing an additional 203 shares during the last quarter. Finally, SVB Wealth LLC purchased a new position in TD SYNNEX during the 1st quarter valued at about $72,000. 84.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SNX has been the subject of a number of research analyst reports. Royal Bank Of Canada raised their target price on TD SYNNEX from $145.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, August 22nd. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Bank of America raised their target price on TD SYNNEX from $156.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Barclays set a $140.00 target price on TD SYNNEX in a report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. raised their target price on TD SYNNEX from $143.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $151.30.

TD SYNNEX Stock Up 0.1%

Shares of SNX traded up $0.19 during midday trading on Friday, hitting $149.39. The company had a trading volume of 776,849 shares, compared to its average volume of 498,531. The company's 50-day simple moving average is $144.84 and its 200-day simple moving average is $129.02. The firm has a market capitalization of $12.32 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.22 and a beta of 1.35. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $153.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.75 and a current ratio of 1.26.

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

TD SYNNEX Dividend Announcement

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

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 812 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total transaction of $122,141.04. Following the transaction, the director owned 6,079 shares of the company's stock, valued at $914,403.18. The trade was a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 63,310 shares of TD SYNNEX stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $136.23, for a total value of $8,624,721.30. Following the transaction, the director directly owned 67,515 shares in the company, valued at approximately $9,197,568.45. This trade represents a 48.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,888 shares of company stock worth $9,115,025. 1.00% of the stock is currently owned by corporate insiders.

TD SYNNEX 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.