AXQ Capital LP Purchases Shares of 6,395 TD SYNNEX Corporation $SNX

AXQ Capital LP purchased a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the 4th quarter, Holdings Channel.com reports. The fund purchased 6,395 shares of the business services provider’s stock, valued at approximately $961,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dorato Capital Management purchased a new stake in shares of TD SYNNEX during the 4th quarter worth about $27,000. Ossiam raised its holdings in TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after buying an additional 75 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in TD SYNNEX in the third quarter valued at approximately $30,000. Lloyd Advisory Services LLC. acquired a new position in TD SYNNEX during the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. grew its stake in TD SYNNEX by 675.9% during the third quarter. Brown Brothers Harriman & Co. now owns 225 shares of the business services provider’s stock worth $37,000 after buying an additional 196 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of TD SYNNEX stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the completion of the transaction, the chief financial officer directly owned 14,035 shares in the company, valued at $2,659,071.10. The trade was a 18.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total value of $605,423.50. Following the transaction, the insider directly owned 10,820 shares of the company’s stock, valued at $2,165,514.80. This trade represents a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,250 shares of company stock valued at $3,533,382 over the last quarter. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

SNX has been the subject of several recent research reports. JPMorgan Chase & Co. raised 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TD SYNNEX in a research report on Monday, May 4th. Royal Bank Of Canada increased their price target on TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Barclays raised their price objective on TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Finally, Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, TD SYNNEX currently has a consensus rating of “Buy” and a consensus price target of $212.60.

TD SYNNEX Trading Up 3.4%

NYSE SNX opened at $279.67 on Wednesday. The company has a market capitalization of $22.48 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 1.17 and a beta of 1.43. 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 12 month low of $118.90 and a 12 month high of $286.25. The company’s fifty day moving average price is $212.80 and its two-hundred day moving average price is $175.31.

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 firm had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.TD SYNNEX’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.80 earnings per share. As a group, research analysts predict that TD SYNNEX Corporation will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 annualized dividend and a yield of 0.7%. TD SYNNEX’s dividend payout ratio is 15.96%.

About TD SYNNEX

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.