SummitTX Capital L.P. Decreases Holdings in TD SYNNEX Corporation $SNX

SummitTX Capital L.P. reduced its stake in TD SYNNEX Corporation (NYSE:SNX) by 96.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,406 shares of the business services provider’s stock after selling 90,213 shares during the period. SummitTX Capital L.P.’s holdings in TD SYNNEX were worth $575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ossiam boosted its position in shares of TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after buying an additional 75 shares during the period. Dorato Capital Management purchased a new stake in shares of TD SYNNEX during the 4th quarter valued at about $27,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of TD SYNNEX during the 3rd quarter valued at about $30,000. Aster Capital Management DIFC Ltd acquired a new position in TD SYNNEX during the 4th quarter worth approximately $28,000. Finally, SJS Investment Consulting Inc. boosted its holdings in TD SYNNEX by 44.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock worth $34,000 after acquiring an additional 62 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analyst Ratings Changes

SNX has been the subject of several recent research reports. Morgan Stanley increased their price objective on shares of TD SYNNEX from $341.00 to $374.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. UBS Group upped their target price on shares of TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group set a $330.00 price target on shares of TD SYNNEX in a report on Friday, June 26th. 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 report on Wednesday, May 27th. Finally, Royal Bank Of Canada set a $340.00 price objective on shares of TD SYNNEX in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $294.67.

TD SYNNEX Stock Up 1.5%

SNX stock opened at $255.93 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $260.60 and a 200-day simple moving average of $209.08. The company has a market capitalization of $20.46 billion, a P/E ratio of 18.32, a PEG ratio of 0.71 and a beta of 1.43. TD SYNNEX Corporation has a twelve month low of $139.23 and a twelve month high of $296.47.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm had revenue of $19.57 billion for the quarter, compared to analysts’ expectations of $16.80 billion. During the same period in the prior year, the company posted $2.99 earnings per share. The firm’s quarterly revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, equities research analysts predict that TD SYNNEX Corporation will post 18.01 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. TD SYNNEX’s payout ratio is presently 13.74%.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the sale, the director owned 18,537 shares in the company, valued at approximately $4,503,934.89. This represents a 21.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the transaction, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. The trade was a 17.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 21,273 shares of company stock worth $5,259,652. Company insiders own 0.70% of the company’s stock.

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.