Commerce Bank Makes New $1.09 Million Investment in TD SYNNEX Corporation $SNX

Commerce Bank bought a new stake in TD SYNNEX Corporation (NYSE:SNX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,076 shares of the business services provider’s stock, valued at approximately $1,090,000.

Several other hedge funds have also made changes to their positions in SNX. BlackRock Inc. acquired a new stake in TD SYNNEX during the second quarter worth $1,958,683,000. State Street Corp lifted its stake in shares of TD SYNNEX by 0.4% in the 3rd quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock valued at $388,535,000 after purchasing an additional 9,024 shares during the last quarter. LSV Asset Management lifted its stake in shares of TD SYNNEX by 16.1% in the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider’s stock valued at $313,471,000 after purchasing an additional 288,625 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of TD SYNNEX by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock worth $230,315,000 after purchasing an additional 99,090 shares during the period. Finally, Metropolis Capital Ltd grew its holdings in shares of TD SYNNEX by 9.5% during the 1st quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider’s stock worth $216,169,000 after purchasing an additional 111,222 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Price Performance

SNX opened at $255.77 on Thursday. The stock’s 50-day moving average price is $255.96 and its 200 day moving average price is $222.13. TD SYNNEX Corporation has a 12-month low of $142.22 and a 12-month high of $296.47. The firm has a market cap of $20.45 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 0.71 and a beta of 1.44. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The company had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the previous year, the company posted $2.99 EPS. TD SYNNEX’s revenue was up 31.0% compared to the same quarter last year. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, sell-side analysts expect that TD SYNNEX Corporation will post 18.01 earnings per share for the current year.

TD SYNNEX Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on SNX shares. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective on the stock in a report on Wednesday, May 27th. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Barclays lifted their price target on shares of TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, July 2nd. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley upped their price objective on shares of TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. One 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $294.67.

Insider Buying and Selling

In other news, Director Ann F. Vezina sold 1,273 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the sale, the director owned 5,828 shares of the company’s stock, valued at approximately $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total value of $1,311,050.00. Following the completion of the sale, the director owned 13,537 shares in the company, valued at approximately $3,549,536.77. The trade was a 26.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 16,273 shares of company stock worth $4,253,752. 0.70% of the stock is owned by company insiders.

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.