Meeder Asset Management Inc. Purchases 39,529 Shares of TD SYNNEX Corporation $SNX

Meeder Asset Management Inc. lifted its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 639.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,712 shares of the business services provider’s stock after purchasing an additional 39,529 shares during the period. Meeder Asset Management Inc. owned 0.06% of TD SYNNEX worth $7,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in TD SYNNEX in the 4th quarter valued at $148,559,000. Alyeska Investment Group L.P. acquired a new stake in shares of TD SYNNEX during the third quarter worth $135,631,000. AQR Capital Management LLC boosted its position in shares of TD SYNNEX by 141.8% in the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after acquiring an additional 548,180 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of TD SYNNEX in the fourth quarter valued at about $60,104,000. Finally, Marshall Wace LLP grew its stake in shares of TD SYNNEX by 6,626.0% in the third quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider’s stock valued at $65,951,000 after acquiring an additional 396,766 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the transaction, the director directly owned 18,537 shares in the company, valued at $4,503,934.89. The trade was a 21.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 20,000 shares of company stock worth $4,933,700. Company insiders own 0.70% of the company’s stock.

TD SYNNEX Stock Up 0.1%

Shares of NYSE SNX opened at $242.77 on Monday. The stock has a market capitalization of $19.41 billion, a P/E ratio of 17.38, a PEG ratio of 0.68 and a beta of 1.43. The stock’s fifty day moving average is $257.36 and its 200 day moving average is $202.66. TD SYNNEX Corporation has a 52 week low of $139.23 and a 52 week high of $296.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data 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 business had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. TD SYNNEX’s revenue was up 31.0% compared to the same quarter last year. During the same quarter in the prior 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 forecast that TD SYNNEX Corporation will post 18.02 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, July 17th. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. TD SYNNEX’s dividend payout ratio (DPR) is currently 13.74%.

Analyst Ratings Changes

Several brokerages have weighed in on SNX. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a research report on Friday, June 26th. Morgan Stanley raised their target price on shares of TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Royal Bank Of Canada set a $340.00 price target on shares of TD SYNNEX in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target for the company in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, TD SYNNEX presently has a consensus rating of “Buy” and a consensus price target of $294.67.

About TD SYNNEX

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.