North Dakota State Investment Board Makes New $410,000 Investment in TD SYNNEX Corporation $SNX

North Dakota State Investment Board bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX) during the 4th quarter, Holdings Channel reports. The institutional investor bought 2,727 shares of the business services provider’s stock, valued at approximately $410,000.

Other hedge funds have also recently bought and sold shares of the company. Dorato Capital Management bought a new position in shares of TD SYNNEX during the 4th quarter worth approximately $27,000. Ossiam grew its stake in shares of TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $30,000. Brown Brothers Harriman & Co. grew its stake in shares of TD SYNNEX by 675.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock worth $37,000 after acquiring an additional 196 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $42,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Price Performance

NYSE:SNX opened at $237.30 on Friday. TD SYNNEX Corporation has a 1-year low of $118.35 and a 1-year high of $242.49. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $201.21 and a 200 day simple moving average of $171.01. The stock has a market capitalization of $19.08 billion, a PE ratio of 19.73, a P/E/G ratio of 1.01 and a beta of 1.40.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, beating the consensus estimate of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $15.59 billion. During the same period last year, the business earned $2.80 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. On average, research analysts expect that TD SYNNEX Corporation will post 15.69 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. TD SYNNEX’s dividend payout ratio (DPR) is currently 15.96%.

Insider Activity

In related news, CFO David Gregory Jordan sold 3,225 shares of the firm’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 transaction, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $229.54, for a total transaction of $1,147,700.00. Following the completion of the transaction, the director directly owned 28,537 shares of the company’s stock, valued at $6,550,382.98. This represents a 14.91% decrease in their ownership of the stock. 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 16,417 shares of company stock valued at $3,559,726 over the last three months. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

SNX has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TD SYNNEX in a research note on Monday, May 4th. Barclays raised their price target on shares of TD SYNNEX from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 1st. The Goldman Sachs Group raised their price target on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, Royal Bank Of Canada raised their price target on shares of TD SYNNEX from $210.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $197.70.

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.