CenterBook Partners LP Purchases 4,586 Shares of TD SYNNEX Corporation $SNX

CenterBook Partners LP lifted its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 160.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,439 shares of the business services provider’s stock after purchasing an additional 4,586 shares during the quarter. CenterBook Partners LP’s holdings in TD SYNNEX were worth $1,118,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Ossiam lifted its position in 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 purchasing an additional 75 shares during the period. Dorato Capital Management bought a new stake in TD SYNNEX in the 4th quarter valued at $27,000. Measured Wealth Private Client Group LLC bought a new stake in TD SYNNEX in the 3rd quarter valued at $30,000. Lloyd Advisory Services LLC. acquired a new position in shares of TD SYNNEX in the 4th quarter valued at $32,000. Finally, Brown Brothers Harriman & Co. lifted its holdings 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 during the period. 84.00% of the stock is currently owned by institutional investors.

Insider Activity at TD SYNNEX

In related news, CFO David Gregory Jordan sold 3,225 shares of the firm’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $189.46, for a total transaction of $611,008.50. Following the completion of the sale, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at $2,659,071.10. This trade represents a 18.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total value of $1,401,900.00. Following the completion of the transaction, the director owned 23,537 shares of the company’s stock, valued at approximately $6,599,304.06. The trade was 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 21,250 shares of company stock valued at $4,935,282 in the last three months. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price 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. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. JPMorgan Chase & Co. upgraded shares of 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. UBS Group lifted their price objective on TD SYNNEX from $265.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank Of Canada increased their target price on TD SYNNEX from $250.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $223.60.

TD SYNNEX Trading Down 1.5%

Shares of TD SYNNEX stock opened at $268.84 on Thursday. TD SYNNEX Corporation has a 12-month low of $122.96 and a 12-month high of $286.25. The stock has a market capitalization of $21.61 billion, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 1.18 and a beta of 1.43. The company has a 50-day simple moving average of $228.89 and a 200 day simple moving average of $181.52. The company has a quick ratio of 0.71, a current ratio of 1.22 and a debt-to-equity ratio of 0.41.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $1.49. The firm had revenue of $17.16 billion for 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 for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 earnings per share. Research analysts expect that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

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.