Baader Bank Aktiengesellschaft Makes New $482,000 Investment in TD SYNNEX Corporation $SNX

Baader Bank Aktiengesellschaft purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,210 shares of the business services provider’s stock, valued at approximately $482,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in TD SYNNEX by 134.8% during the 4th quarter. Allworth Financial LP now owns 439 shares of the business services provider’s stock worth $66,000 after acquiring an additional 252 shares in the last quarter. Provident Investment Management Inc. acquired a new position in TD SYNNEX during the 4th quarter worth approximately $413,000. Swiss Life Asset Management Ltd grew its holdings in TD SYNNEX by 55.6% during the 4th quarter. Swiss Life Asset Management Ltd now owns 5,244 shares of the business services provider’s stock worth $788,000 after acquiring an additional 1,873 shares in the last quarter. Denali Advisors LLC purchased a new stake in shares of TD SYNNEX during the 4th quarter worth approximately $377,000. Finally, Ethic Inc. lifted its position in shares of TD SYNNEX by 6.2% during the 4th quarter. Ethic Inc. now owns 11,315 shares of the business services provider’s stock worth $1,700,000 after buying an additional 657 shares during the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Down 1.8%

Shares of NYSE:SNX opened at $230.05 on Friday. The stock has a market cap of $18.49 billion, a P/E ratio of 19.12, a P/E/G ratio of 1.02 and a beta of 1.40. The firm has a fifty day moving average price of $193.84 and a 200 day moving average price of $168.39. 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 1-year low of $118.35 and a 1-year high of $242.49.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $1.49. The company had revenue of $17.16 billion for the quarter, compared to analysts’ expectations 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 was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.80 EPS. Sell-side analysts predict that TD SYNNEX Corporation will post 15.69 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th 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 Wednesday, April 15th. TD SYNNEX’s payout ratio is currently 15.96%.

Wall Street Analysts Forecast Growth

SNX has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of TD SYNNEX from $193.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Barclays boosted their price objective on shares of TD SYNNEX from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 1st. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Morgan Stanley boosted their price objective on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Finally, Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus target price of $197.70.

Insider Activity

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the business’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $189.46, for a total value of $611,008.50. Following the transaction, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. The trade was a 18.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Merline Saintil sold 167 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly owned 6,995 shares in the company, valued at $1,103,461.25. This represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,417 shares of company stock valued at $2,412,026. 0.70% of the stock is owned by corporate 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.