2,745 Shares in TD SYNNEX Corporation $SNX Purchased by Sivia Capital Partners LLC

Sivia Capital Partners LLC acquired a new stake in shares of TD SYNNEX Corporation (NYSE:SNX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,745 shares of the business services provider’s stock, valued at approximately $412,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SNX. Norges Bank bought a new position in TD SYNNEX during the fourth quarter valued at approximately $148,559,000. Alyeska Investment Group L.P. bought a new position in TD SYNNEX during the third quarter valued at approximately $135,631,000. Victory Capital Management Inc. lifted its position in TD SYNNEX by 123.6% during the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock valued at $119,263,000 after purchasing an additional 402,573 shares during the period. Wedge Capital Management L L P NC bought a new position in TD SYNNEX during the fourth quarter valued at approximately $60,104,000. Finally, Marshall Wace LLP lifted its position in TD SYNNEX by 6,626.0% during the third quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider’s stock valued at $65,951,000 after purchasing an additional 396,766 shares during the period. Institutional investors own 84.00% of the company’s stock.

Insiders Place Their Bets

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,025 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total value of $605,423.50. Following the completion of the transaction, the insider directly owned 10,820 shares in the company, valued at $2,165,514.80. This represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the completion of the transaction, the director directly owned 23,537 shares in the company, valued at $6,599,304.06. This trade represents a 17.52% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,250 shares of company stock worth $4,935,282 over the last three months. 0.70% of the stock is currently owned by company insiders.

TD SYNNEX Stock Performance

SNX opened at $268.25 on Friday. The firm has a market cap of $21.56 billion, a P/E ratio of 22.30, a PEG ratio of 1.20 and a beta of 1.43. TD SYNNEX Corporation has a 1-year low of $121.50 and a 1-year high of $286.25. The company has a 50 day simple moving average of $222.16 and a two-hundred day simple moving average of $178.64. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. The business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The company’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.80 earnings per share. Equities analysts forecast that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio is presently 15.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SNX. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. The Goldman Sachs Group increased their price objective on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. UBS Group increased their price objective on shares of TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Barclays increased their price objective on shares of TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective on the stock in a research report on Wednesday, May 27th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $212.60.

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.