TD SYNNEX (NYSE:SNX) Sets New 52-Week High – Time to Buy?

TD SYNNEX Corporation (NYSE:SNX) reached a new 52-week high during trading on Tuesday . The stock traded as high as $242.99 and last traded at $242.75, with a volume of 29482 shares traded. The stock had previously closed at $237.34.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SNX shares. The Goldman Sachs Group boosted their price objective on TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $185.00 to $220.00 and gave the company a “neutral” rating in a report on Thursday, April 16th. Weiss Ratings reissued a “buy (b)” rating on shares of TD SYNNEX in a research note on Monday, May 4th. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Morgan Stanley upped their target price on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. One research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.70.

TD SYNNEX Stock Performance

The firm has a market capitalization of $19.49 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. The business’s fifty day simple moving average is $202.89 and its 200-day simple moving average is $171.74.

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

TD SYNNEX Announces Dividend

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

Insider Transactions at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,025 shares of TD SYNNEX stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $200.14, for a total value of $605,423.50. Following the sale, the insider directly owned 10,820 shares of the company’s stock, valued at approximately $2,165,514.80. The trade was a 21.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Merline Saintil sold 167 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total value of $26,344.25. Following the transaction, the director directly owned 6,995 shares of the company’s stock, valued at approximately $1,103,461.25. The trade was a 2.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 16,417 shares of company stock worth $3,559,726. 0.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Large investors have recently bought and sold shares of the business. Ossiam lifted its position in TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Dorato Capital Management bought a new stake in shares of TD SYNNEX in the 4th quarter worth about $27,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of TD SYNNEX during the 3rd quarter valued at about $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of TD SYNNEX in the 4th quarter valued at about $28,000. Finally, SJS Investment Consulting Inc. grew its position in TD SYNNEX by 44.6% in the first quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock worth $34,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

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.