Wedge Capital Management L L P NC Invests $60.10 Million in TD SYNNEX Corporation $SNX

Wedge Capital Management L L P NC acquired a new stake in TD SYNNEX Corporation (NYSE:SNX) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 400,083 shares of the business services provider’s stock, valued at approximately $60,104,000. TD SYNNEX comprises approximately 1.1% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 19th largest holding. Wedge Capital Management L L P NC owned about 0.49% of TD SYNNEX at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Federated Hermes Inc. increased its stake in TD SYNNEX by 1.8% in the 2nd quarter. Federated Hermes Inc. now owns 215,390 shares of the business services provider’s stock valued at $29,228,000 after buying an additional 3,736 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of TD SYNNEX by 7.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 992,779 shares of the business services provider’s stock worth $162,568,000 after buying an additional 71,249 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of TD SYNNEX by 16.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 331,743 shares of the business services provider’s stock valued at $54,535,000 after acquiring an additional 46,713 shares in the last quarter. Asset Management One Co. Ltd. bought a new position in shares of TD SYNNEX in the 3rd quarter valued at about $1,701,000. Finally, Envestnet Asset Management Inc. increased its position in shares of TD SYNNEX by 11.1% in the third quarter. Envestnet Asset Management Inc. now owns 82,977 shares of the business services provider’s stock valued at $13,587,000 after acquiring an additional 8,264 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SNX shares. The Goldman Sachs Group initiated coverage on TD SYNNEX in a research report on Tuesday, January 13th. They set a “buy” rating and a $180.00 price target for the company. Barclays lowered their price target on TD SYNNEX from $164.00 to $163.00 and set an “equal weight” rating on the stock in a research report on Friday, January 9th. Royal Bank Of Canada reiterated an “outperform” rating on shares of TD SYNNEX in a research note on Monday, December 22nd. Barrington Research reissued an “outperform” rating and issued a $182.00 target price on shares of TD SYNNEX in a research note on Friday. Finally, Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and an average price target of $174.70.

TD SYNNEX Trading Down 1.5%

TD SYNNEX stock opened at $157.31 on Friday. The stock has a 50-day simple moving average of $158.54 and a 200 day simple moving average of $155.05. The stock has a market capitalization of $12.68 billion, a P/E ratio of 15.78, a PEG ratio of 1.14 and a beta of 1.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.75 and a current ratio of 1.21. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $175.56.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, January 8th. The business services provider reported $3.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.15. TD SYNNEX had a return on equity of 12.60% and a net margin of 1.32%.The firm had revenue of $17.38 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same quarter in the prior year, the company earned $3.09 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. TD SYNNEX has set its Q1 2026 guidance at 3.000-3.500 EPS. Analysts expect that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $1.92 annualized dividend and a yield of 1.2%. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.44. TD SYNNEX’s payout ratio is 19.26%.

Insider Buying and Selling at TD SYNNEX

In other news, Director Merline Saintil sold 167 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total value of $26,344.25. Following the transaction, the director directly owned 6,995 shares of the company’s stock, valued at $1,103,461.25. This represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 23,365 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $160.63, for a total transaction of $3,753,119.95. Following the sale, the director owned 42,515 shares of the company’s stock, valued at approximately $6,829,184.45. This represents a 35.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 80,915 shares of company stock valued at $13,111,786 in the last quarter. 0.70% of the stock is currently owned by insiders.

TD SYNNEX Company 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.