Fisher Asset Management LLC Acquires New Holdings in TD SYNNEX Corporation $SNX

Fisher Asset Management LLC acquired a new stake in TD SYNNEX Corporation (NYSE:SNX) during the fourth quarter, Holdings Channel.com reports. The firm acquired 8,276 shares of the business services provider’s stock, valued at approximately $1,243,000.

A number of other institutional investors have also made changes to their positions in the stock. Clearstead Advisors LLC raised its stake in shares of TD SYNNEX by 159.0% in the 4th quarter. Clearstead Advisors LLC now owns 303 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 186 shares in the last quarter. Hantz Financial Services Inc. raised its stake in shares of TD SYNNEX by 33.9% in the 4th quarter. Hantz Financial Services Inc. now owns 1,153 shares of the business services provider’s stock valued at $173,000 after acquiring an additional 292 shares in the last quarter. MQS Management LLC raised its stake in shares of TD SYNNEX by 76.4% in the 4th quarter. MQS Management LLC now owns 3,403 shares of the business services provider’s stock valued at $511,000 after acquiring an additional 1,474 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of TD SYNNEX by 18.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 921 shares of the business services provider’s stock valued at $138,000 after acquiring an additional 141 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in TD SYNNEX in the 4th quarter worth approximately $32,000. 84.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other TD SYNNEX news, Director Merline Saintil sold 167 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $157.75, for a total value of $26,344.25. Following the sale, the director directly owned 6,995 shares in the company, valued at $1,103,461.25. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David Gregory Jordan sold 3,225 shares of the company’s stock in a transaction on Monday, April 6th. The shares were 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 in the company, valued at $2,659,071.10. This trade represents a 18.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,417 shares of company stock valued at $3,559,726. 0.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on SNX. Royal Bank Of Canada lifted their price target on TD SYNNEX from $210.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TD SYNNEX in a research report on Monday, May 4th. Morgan Stanley lifted their price target on TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. JPMorgan Chase & Co. raised TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target on the stock in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price target on TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Buy” and an average price target of $212.60.

TD SYNNEX Stock Performance

SNX opened at $260.46 on Friday. The stock has a market cap of $20.94 billion, a PE ratio of 21.65, a P/E/G ratio of 1.06 and a beta of 1.40. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. TD SYNNEX Corporation has a 1 year low of $118.35 and a 1 year high of $264.81. The stock’s 50 day simple moving average is $210.50 and its 200-day simple moving average is $174.32.

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

TD SYNNEX Dividend Announcement

The business 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 yield of 0.7%. The ex-dividend date was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio is 15.96%.

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.