Commerce Bank Invests $1.09 Million in TD SYNNEX Corporation $SNX

Commerce Bank bought a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the second quarter, HoldingsChannel reports. The fund bought 4,076 shares of the business services provider’s stock, valued at approximately $1,090,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SNX. BlackRock Inc. purchased a new stake in TD SYNNEX during the 2nd quarter worth about $1,958,683,000. State Street Corp increased its holdings in shares of TD SYNNEX by 0.4% in the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock valued at $388,535,000 after acquiring an additional 9,024 shares during the last quarter. LSV Asset Management increased its holdings in shares of TD SYNNEX by 16.1% in the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after acquiring an additional 288,625 shares during the last quarter. Geode Capital Management LLC raised its position in shares of TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock worth $230,315,000 after acquiring an additional 99,090 shares in the last quarter. Finally, Metropolis Capital Ltd raised its position in shares of TD SYNNEX by 9.5% during the 1st quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider’s stock worth $216,169,000 after acquiring an additional 111,222 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on SNX. Morgan Stanley upped their price target on TD SYNNEX from $341.00 to $374.00 and gave the company an “overweight” rating in a report on Friday, June 26th. UBS Group raised their price objective on shares of TD SYNNEX from $310.00 to $352.00 and gave the stock a “buy” rating 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 for the company in a research report on Wednesday, May 27th. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a report on Friday, June 26th. Finally, Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $294.67.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $4,503,934.89. This represents a 21.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 that occurred on Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the transaction, the director directly owned 5,828 shares of the company’s stock, valued at approximately $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 16,273 shares of company stock worth $4,253,752. Company insiders own 0.70% of the company’s stock.

TD SYNNEX Stock Performance

Shares of SNX opened at $255.77 on Thursday. TD SYNNEX Corporation has a 12-month low of $142.22 and a 12-month high of $296.47. 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 market cap of $20.45 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 0.71 and a beta of 1.44. The company’s 50 day simple moving average is $255.96 and its 200-day simple moving average is $222.13.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, equities analysts predict that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Dividend Announcement

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

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.