Janney Montgomery Scott LLC Trims Stock Holdings in TD SYNNEX Corporation $SNX

Janney Montgomery Scott LLC lowered its holdings in TD SYNNEX Corporation (NYSE:SNX) by 22.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 8,818 shares of the business services provider’s stock after selling 2,495 shares during the quarter. Janney Montgomery Scott LLC’s holdings in TD SYNNEX were worth $1,488,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new position in TD SYNNEX in the 4th quarter valued at approximately $148,559,000. Alyeska Investment Group L.P. purchased a new stake in shares of TD SYNNEX during the third quarter worth $135,631,000. AQR Capital Management LLC boosted its holdings in shares of TD SYNNEX by 141.8% in the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock worth $140,431,000 after acquiring an additional 548,180 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of TD SYNNEX in the fourth quarter valued at $60,104,000. Finally, Marshall Wace LLP raised its stake in shares of 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. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Stock Up 0.9%

Shares of NYSE SNX opened at $252.48 on Friday. TD SYNNEX Corporation has a 12 month low of $139.23 and a 12 month high of $296.47. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $20.19 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 0.71 and a beta of 1.43. The business has a 50-day moving average of $255.92 and a 200-day moving average of $199.01.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The business had revenue of $19.57 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same period last year, the firm posted $2.99 earnings per share. TD SYNNEX’s quarterly revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Sell-side analysts expect that TD SYNNEX Corporation will post 18.02 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

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

Insider Activity

In other news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the sale, the director directly owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. The trade was a 21.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 20,000 shares of company stock worth $4,933,700. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barrington Research lifted their target price on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 26th. UBS Group raised their price objective on shares of TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a research report on Friday, June 26th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research note on Friday, June 26th. Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a report on Friday, June 26th. Finally, Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $294.67.

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.