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

Wedge Capital Management L L P NC bought a new stake in TD SYNNEX Corporation (NYSE:SNX) during the 4th quarter, Holdings Channel reports. The firm bought 400,083 shares of the business services provider’s stock, valued at approximately $60,104,000. TD SYNNEX accounts for about 1.1% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 19th largest holding.

Several other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in TD SYNNEX by 590.7% in the 4th quarter. SG Americas Securities LLC now owns 75,685 shares of the business services provider’s stock valued at $11,370,000 after buying an additional 64,728 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of TD SYNNEX by 2.9% during the fourth quarter. Fulton Bank N.A. now owns 3,663 shares of the business services provider’s stock worth $550,000 after buying an additional 104 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of TD SYNNEX by 86.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,624 shares of the business services provider’s stock worth $1,616,000 after buying an additional 4,929 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new stake in shares of TD SYNNEX in the fourth quarter valued at about $220,000. Finally, GAMMA Investing LLC grew its stake in shares of TD SYNNEX by 30.6% in the fourth quarter. GAMMA Investing LLC now owns 1,319 shares of the business services provider’s stock valued at $198,000 after acquiring an additional 309 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Insider Activity at TD SYNNEX

In other news, Director Merline Saintil sold 167 shares of TD SYNNEX stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $157.75, for a total transaction of $26,344.25. Following the sale, the director directly owned 6,995 shares of the company’s stock, valued at approximately $1,103,461.25. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick Zammit sold 13,900 shares of TD SYNNEX stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $171.57, for a total transaction of $2,384,823.00. Following the sale, the chief executive officer owned 170,928 shares in the company, valued at approximately $29,326,116.96. This represents a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,915 shares of company stock valued at $13,111,786 in the last quarter. Insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. UBS Group increased their target price on shares of TD SYNNEX from $187.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group assumed coverage on shares of TD SYNNEX in a report on Tuesday, January 13th. They set a “buy” rating and a $180.00 target price on the stock. Barrington Research reiterated an “outperform” rating and issued a $182.00 price target on shares of TD SYNNEX in a research note on Friday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of TD SYNNEX in a research report on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.70.

TD SYNNEX Trading Down 1.5%

Shares of TD SYNNEX stock opened at $157.31 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.21 and a debt-to-equity ratio of 0.43. TD SYNNEX Corporation has a 12-month low of $92.23 and a 12-month high of $175.56. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.14 and a beta of 1.37. The firm’s 50-day moving average price is $158.54 and its two-hundred day moving average price is $155.05.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, January 8th. The business services provider reported $3.83 EPS for the quarter, beating the consensus estimate of $3.68 by $0.15. TD SYNNEX had a net margin of 1.32% and a return on equity of 12.60%. The company had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same period in the previous year, the company earned $3.09 EPS. 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. On average, analysts forecast that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Increases Dividend

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

TD SYNNEX 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.