DAVID R VETTER, the Chief Legal Officer of TD Synnex Corp ($SNX), sold 20,000 shares of the company on 10-18-2024. We received data on the trade from a recent SEC filing. This was a sale of approximately 23.2% of their shares. Following this trade, they now own 66,381 shares of TD Synnex Corp stock.
TD Synnex Corp Insider Trading Activity
TD Synnex Corp insiders have traded $SNX stock on the open market 25 times in the past 6 months. Of those trades, 0 have been purchases and 25 have been sales.
Here’s a breakdown of recent trading of $SNX stock by insiders over the last 6 months:
- DAVID R VETTER (Chief Legal Officer) sold 20,000 shares.
- RICHARD T HUME has traded it 10 times. They made 0 purchases and 10 sales, selling 40,000 shares.
- MARSHALL WITT (Chief Financial Officer) has traded it 6 times. They made 0 purchases and 6 sales, selling 17,094 shares.
- ANN F VEZINA sold 1,937 shares.
- DENNIS POLK (Hyve Solutions Executive) has traded it 4 times. They made 0 purchases and 4 sales, selling 35,689 shares.
- MERLINE SAINTIL has traded it 2 times. They made 0 purchases and 2 sales, selling 234 shares.
- PATRICK ZAMMIT (Chief Operating Officer) sold 3,513 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
TD Synnex Corp Hedge Fund Activity
We have seen 285 institutional investors add shares of TD Synnex Corp stock to their portfolio, and 185 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- APOLLO MANAGEMENT HOLDINGS, L.P. removed 17,384,299 shares (-100.0%) from their portfolio in Q2 2024
- BLACKROCK INC. added 2,357,797 shares (+41.6%) to their portfolio in Q2 2024
- CITADEL ADVISORS LLC removed 1,153,479 shares (-53.3%) from their portfolio in Q2 2024
- PACER ADVISORS, INC. added 1,006,569 shares (+58.9%) to their portfolio in Q2 2024
- VANGUARD GROUP INC added 995,962 shares (+15.0%) to their portfolio in Q2 2024
- JPMORGAN CHASE & CO added 948,709 shares (+75.9%) to their portfolio in Q2 2024
- ALLIANCEBERNSTEIN L.P. added 879,456 shares (+809.9%) to their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Should I Buy $SNX Stock?
The bull case for TD Synnex Corp ($SNX) hinges on its recent operational improvements, including an increase in operating margin from 3.4% to 3.8% in 1Q23, which reflects effective management and a positive shift in sales toward Advanced Solutions and high-growth technologies. The company's decision to authorize an incremental $2 billion share repurchase signals strong confidence in its financial health and a commitment to shareholder returns. Additionally, there is optimism about gross billings growth in the second half of the year, bolstered by a recovering PC market and robust performance in the Asia-Pacific region, suggesting potential for sustained revenue growth. Conversely, the bear case highlights significant challenges, such as a 9.1% year-over-year revenue decline in fiscal Q3/23, falling short of estimates due to downturns in the Endpoint Solutions segment and decreased PC demand. The noted 4.5% decrease in adjacent gross billings reflects ongoing struggles within the IT distribution market, particularly in Europe, which reported a 10% revenue decline. Furthermore, management's weak forward guidance, especially for Europe, raises concerns about continued financial underperformance as the company moves into fiscal Q4/23.
Background on $SNX Stock
TD Synnex Corporation (SNX) is a leading global distributor and solutions aggregator of IT products and services. The company specializes in providing a wide range of technology solutions, including hardware, software, and cloud-based services, catering to information technology resellers and service providers. Through its extensive network of suppliers and partners, TD Synnex supports various sectors by delivering integrated solutions that enhance operational efficiency and drive innovation. The company also offers value-added services such as logistics, marketing, and e-commerce solutions, positioning itself as a vital link in the technology supply chain. With a focus on helping customers navigate the evolving tech landscape, TD Synnex plays a critical role in facilitating digital transformation across industries.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
