North Dakota State Investment Board Buys Shares of 2,727 TD SYNNEX Corporation $SNX

North Dakota State Investment Board bought a new stake in shares of TD SYNNEX Corporation (NYSE:SNX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,727 shares of the business services provider’s stock, valued at approximately $410,000.

A number of other large investors also recently added to or reduced their stakes in SNX. Alyeska Investment Group L.P. acquired a new position in TD SYNNEX during the 3rd quarter valued at about $135,631,000. Victory Capital Management Inc. lifted its position in TD SYNNEX by 123.6% during the 3rd quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock valued at $119,263,000 after purchasing an additional 402,573 shares during the period. Wedge Capital Management L L P NC acquired a new position in TD SYNNEX during the 4th quarter valued at about $60,104,000. Marshall Wace LLP lifted its position in TD SYNNEX by 6,626.0% during the 3rd quarter. Marshall Wace LLP now owns 402,754 shares of the business services provider’s stock valued at $65,951,000 after purchasing an additional 396,766 shares during the period. Finally, Wellington Management Group LLP lifted its position in TD SYNNEX by 365.9% during the 3rd quarter. Wellington Management Group LLP now owns 373,101 shares of the business services provider’s stock valued at $61,095,000 after purchasing an additional 293,027 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $237.30 on Friday. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.01 and a beta of 1.40. The firm’s 50 day simple moving average is $201.21 and its 200 day simple moving average is $171.01. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. TD SYNNEX Corporation has a fifty-two week low of $118.35 and a fifty-two week high of $242.49.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share 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 the consensus estimate of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. TD SYNNEX’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the company posted $2.80 EPS. As a group, sell-side analysts forecast that TD SYNNEX Corporation will post 15.69 earnings per share for the current year.

TD SYNNEX Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SNX shares. The Goldman Sachs Group upped 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. Morgan Stanley increased their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. UBS Group increased their price target on shares of TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of TD SYNNEX in a research report on Monday, May 4th. Finally, Royal Bank Of Canada increased their price target on shares of TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $197.70.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, Director Merline Saintil sold 167 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total transaction of $26,344.25. Following the sale, the director directly owned 6,995 shares in the company, valued at approximately $1,103,461.25. This trade represents a 2.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $200.14, for a total transaction of $605,423.50. Following the sale, the insider owned 10,820 shares in the company, valued at $2,165,514.80. This trade represents a 21.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 16,417 shares of company stock valued at $3,559,726. Corporate 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.