TD SYNNEX (NYSE:SNX) Director Sells $1,147,700.00 in Stock

TD SYNNEX Corporation (NYSE:SNX) Director Richard Hume sold 5,000 shares of TD SYNNEX stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $229.54, for a total value of $1,147,700.00. Following the completion of the transaction, the director owned 28,537 shares in the company, valued at $6,550,382.98. This trade represents a 14.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TD SYNNEX Price Performance

SNX opened at $230.64 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The firm has a market capitalization of $18.54 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 0.99 and a beta of 1.40. The business’s 50-day moving average is $198.13 and its two-hundred day moving average is $170.02. TD SYNNEX Corporation has a 1 year low of $118.35 and a 1 year high of $242.49.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping the consensus estimate of $3.24 by $1.49. The business had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company earned $2.80 earnings per share. Research analysts anticipate that TD SYNNEX Corporation will post 15.69 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s dividend payout ratio (DPR) is currently 15.96%.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently modified their holdings of the company. Dorato Capital Management acquired a new stake in shares of TD SYNNEX during the fourth quarter worth about $27,000. Ossiam lifted its holdings in TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in TD SYNNEX in the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in TD SYNNEX in the third quarter valued at approximately $30,000. Finally, Lloyd Advisory Services LLC. acquired a new position in TD SYNNEX in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

Analysts Set New Price Targets

SNX has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on TD SYNNEX from $185.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, April 16th. Barrington Research reissued an “outperform” rating and issued a $182.00 price target on shares of TD SYNNEX in a report on Friday, March 27th. Morgan Stanley raised their price target on TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Weiss Ratings reissued a “buy (b)” rating on shares of TD SYNNEX in a report on Monday, May 4th. Finally, Barclays lifted their target price on TD SYNNEX from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average price target of $197.70.

TD SYNNEX Company 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.