Renaissance Technologies LLC Raises Holdings in TD SYNNEX Corporation $SNX

Renaissance Technologies LLC raised its holdings in TD SYNNEX Corporation (NYSE:SNX) by 14.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,028 shares of the business services provider’s stock after purchasing an additional 20,000 shares during the quarter. Renaissance Technologies LLC owned 0.20% of TD SYNNEX worth $27,336,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SNX. Gamco Investors INC. ET AL lifted its stake in TD SYNNEX by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 4,667 shares of the business services provider’s stock worth $787,000 after purchasing an additional 52 shares in the last quarter. Compound Planning Inc. acquired a new position in TD SYNNEX in the 1st quarter valued at about $219,000. Caxton Associates LLP purchased a new stake in TD SYNNEX during the first quarter worth about $249,000. Bank of Nova Scotia lifted its position in shares of TD SYNNEX by 85.5% during the first quarter. Bank of Nova Scotia now owns 31,404 shares of the business services provider’s stock worth $5,298,000 after purchasing an additional 14,472 shares in the last quarter. Finally, Sei Investments Co. lifted its position in shares of TD SYNNEX by 41.9% during the first quarter. Sei Investments Co. now owns 620,366 shares of the business services provider’s stock worth $104,661,000 after purchasing an additional 183,185 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group boosted their price target on shares of TD SYNNEX from $310.00 to $352.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a report on Friday, June 26th. Barclays boosted their target price on TD SYNNEX from $237.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 2nd. Barrington Research increased their price target on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, June 26th. Finally, Weiss Ratings cut TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $294.67.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $242.97, for a total value of $1,214,850.00. Following the sale, the director owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This represents a 21.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 20,000 shares of company stock valued at $4,933,700. 0.70% of the stock is owned by insiders.

TD SYNNEX Trading Up 0.7%

SNX opened at $248.89 on Thursday. The firm has a market cap of $19.90 billion, a price-to-earnings ratio of 17.82, a price-to-earnings-growth ratio of 0.70 and a beta of 1.43. TD SYNNEX Corporation has a 52 week low of $139.23 and a 52 week high of $296.47. The business’s 50 day moving average is $259.79 and its two-hundred day moving average is $208.03. The company has a quick ratio of 0.64, a current ratio of 1.20 and a debt-to-equity ratio of 0.40.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.71. The firm had revenue of $19.57 billion for the quarter, compared to analysts’ expectations of $16.80 billion. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The firm’s revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, research analysts predict that TD SYNNEX Corporation will post 18.01 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, July 17th. TD SYNNEX’s payout ratio is 13.74%.

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.