Lazard Asset Management LLC Invests $375,000 in TD SYNNEX Corporation $SNX

Lazard Asset Management LLC acquired a new position in shares of TD SYNNEX Corporation (NYSE:SNX) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 2,222 shares of the business services provider’s stock, valued at approximately $375,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SNX. Norges Bank bought a new stake in TD SYNNEX in the 4th quarter valued at approximately $148,559,000. Alyeska Investment Group L.P. bought a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $135,631,000. AQR Capital Management LLC raised 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 valued at $140,431,000 after purchasing an additional 548,180 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of TD SYNNEX by 6,626.0% in the third 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 last quarter. Finally, Wellington Management Group LLP lifted its position in shares of TD SYNNEX by 365.9% in the third quarter. Wellington Management Group LLP now owns 373,101 shares of the business services provider’s stock worth $61,095,000 after purchasing an additional 293,027 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Trading Down 2.6%

Shares of SNX stock opened at $252.56 on Friday. TD SYNNEX Corporation has a 12-month low of $142.22 and a 12-month high of $296.47. The company has a market capitalization of $20.19 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 0.73 and a beta of 1.44. The firm has a 50 day moving average price of $261.80 and a two-hundred day moving average price of $212.82. 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 posted its earnings results on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.14 by $0.71. The company had revenue of $19.57 billion for the quarter, compared to the consensus estimate 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 prior year, the business earned $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, analysts predict that TD SYNNEX Corporation will post 18.01 earnings per share for the current year.

TD SYNNEX Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research note on Friday, June 26th. Barclays raised their price objective on TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. Finally, Barrington Research upped their target price on TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $294.67.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total transaction of $1,311,050.00. Following the completion of the sale, the director owned 13,537 shares of the company’s stock, valued at approximately $3,549,536.77. This trade represents a 26.97% decrease in their ownership of the stock. 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. Also, Director Ann F. Vezina sold 1,273 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the sale, the director directly owned 5,828 shares of the company’s stock, valued at approximately $1,492,259.40. The trade was a 17.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,273 shares of company stock valued at $5,401,452 in the last three months. Insiders own 0.70% of the company’s stock.

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.