TD SYNNEX Corporation (NYSE:SNX) Given Average Recommendation of “Buy” by Analysts

TD SYNNEX Corporation (NYSE:SNX) has been assigned an average rating of “Buy” from the ten analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $294.6667.

Several research firms have weighed in on SNX. 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. Barrington Research upped their price objective on TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Zacks Research raised TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a research report on Friday, June 26th. Finally, Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a report on Friday, June 26th.

TD SYNNEX Stock Performance

NYSE:SNX traded up $2.32 on Friday, hitting $252.48. The stock had a trading volume of 590,691 shares, compared to its average volume of 1,028,732. The business’s 50-day simple moving average is $255.92 and its two-hundred day simple moving average is $199.01. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 0.71 and a beta of 1.43. TD SYNNEX has a 52-week low of $139.23 and a 52-week high of $296.47. 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 released its quarterly 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 firm had revenue of $19.57 billion during the quarter, compared to analyst estimates of $16.80 billion. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, research analysts predict that TD SYNNEX will post 18.02 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, July 17th. TD SYNNEX’s payout ratio is presently 13.74%.

Insider Activity

In related news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the completion of the sale, the director directly owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This represents a 21.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 20,000 shares of company stock worth $4,933,700. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TD SYNNEX by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock valued at $1,749,000 after acquiring an additional 1,460 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of TD SYNNEX by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after purchasing an additional 9,815 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of TD SYNNEX by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after purchasing an additional 12,615 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of TD SYNNEX in the second quarter worth about $818,000. Finally, EverSource Wealth Advisors LLC boosted its stake in TD SYNNEX by 17.4% during the second quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock valued at $116,000 after buying an additional 126 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

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.