Wasatch Advisors LP Takes $847,000 Position in TD SYNNEX Corporation $SNX

Key Points

• Wasatch Advisors LP opened a new position in TD SYNNEX, buying 5,020 shares valued at about $847,000 in the first quarter.
• TD SYNNEX posted better-than-expected quarterly results, with EPS of $4.85 and revenue of $19.57 billion, while revenue jumped 31% year over year.
• The company also raised confidence with Q3 guidance of $4.25 to $4.75 in EPS and recently declared a quarterly dividend of $0.48 per share.

Wasatch Advisors LP bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,020 shares of the business services provider's stock, valued at approximately $847,000.

A number of other hedge funds also recently added to or reduced their stakes in SNX. Norges Bank acquired a new position in shares of TD SYNNEX in the fourth quarter worth $148,559,000. Alyeska Investment Group L.P. purchased a new position in TD SYNNEX in the third quarter worth approximately $135,631,000. AQR Capital Management LLC grew its holdings in TD SYNNEX by 141.8% during the 4th quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider's stock worth $140,431,000 after acquiring an additional 548,180 shares in the last quarter. Victory Capital Management Inc. grew its holdings in TD SYNNEX by 123.6% during the 3rd quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider's stock worth $119,263,000 after acquiring an additional 402,573 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of TD SYNNEX in the 4th quarter valued at $60,104,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SNX shares. Zacks Research cut shares of TD SYNNEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 1st. JPMorgan Chase & Co. upgraded TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 price objective on the stock in a report on Wednesday, May 27th. Morgan Stanley upped their price target on TD SYNNEX from $341.00 to $374.00 and gave the company an "overweight" rating in a report on Friday. The Goldman Sachs Group set a $330.00 price target on shares of TD SYNNEX in a research note on Friday. Finally, Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a report on Friday. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $277.10.

Insider Buying and Selling

In other news, CFO David Gregory Jordan sold 3,225 shares of TD SYNNEX stock in a transaction on Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the completion of the sale, the chief financial officer owned 14,035 shares of the company's stock, valued at $2,659,071.10. The trade was a 18.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $280.38, for a total value of $1,401,900.00. Following the transaction, the director owned 23,537 shares in the company, valued at $6,599,304.06. This trade represents a 17.52% 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 90 days, insiders have sold 21,250 shares of company stock worth $4,935,282. 0.70% of the stock is owned by insiders.

TD SYNNEX Trading Down 4.1%

Shares of TD SYNNEX stock opened at $266.17 on Friday. TD SYNNEX Corporation has a 1 year low of $133.71 and a 1 year high of $296.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.20 and a quick ratio of 0.71. The business has a 50 day moving average price of $249.78 and a 200 day moving average price of $192.17. The company has a market capitalization of $21.40 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.10 and a beta of 1.43.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly 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. The company had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.TD SYNNEX's revenue was up 31.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Sell-side analysts anticipate that TD SYNNEX Corporation will post 16.57 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. TD SYNNEX's dividend payout ratio is presently 15.96%.

Key Stories Impacting TD SYNNEX

Here are the key news stories impacting TD SYNNEX this week:

• Positive Sentiment: TD SYNNEX reported record fiscal Q2 results, with revenue of $19.58 billion and non-GAAP EPS of $4.85, both well above expectations. Revenue rose 31% year over year, showing broad-based demand strength. TD SYNNEX Reports Record Fiscal 2026 Second Quarter Results
• Positive Sentiment: Management issued upbeat Q3 guidance, with EPS outlook of $4.25 to $4.75 and revenue guidance above analyst estimates, signaling continued momentum after the strong quarter. TD SYNNEX stock report
• Positive Sentiment: Analysts responded favorably after the earnings release, including Barrington Research raising its price target to $325 from $202 and reiterating an outperform rating, which can support investor sentiment. Analysts Boost Forecasts on TD Synnex After Upbeat Q2 Results
• Positive Sentiment: Commentary around Hyve Solutions highlighted strong AI infrastructure demand, record billings, and continued growth in both Hyve and distribution, suggesting the business mix is improving. TD Synnex: Hyve And Distribution Are Both Pulling The Story Forward
• Neutral Sentiment: The company also declared a quarterly dividend of $0.48 per share, which is supportive for income investors but not likely the main driver of the stock today.
• Negative Sentiment: After a sharp year-to-date rally, some investors appear concerned that the stock’s valuation has run ahead of fundamentals, making the shares vulnerable to profit-taking despite the strong operating results. TD Synnex: Still A Buy, Though The Easy Money Has Been Made

TD SYNNEX 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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