TD SYNNEX Corporation (NYSE:SNX) Sees Large Increase in Short Interest

TD SYNNEX Corporation (NYSE:SNX) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 1,527,247 shares, an increase of 22.2% from the January 29th total of 1,249,793 shares. Based on an average daily trading volume, of 753,520 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.9% of the company’s shares are short sold. Approximately 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 753,520 shares, the days-to-cover ratio is presently 2.0 days.

Insiders Place Their Bets

In other news, CEO Patrick Zammit sold 13,900 shares of TD SYNNEX stock in a transaction on Friday, February 6th. The stock was sold at an average price of $171.57, for a total value of $2,384,823.00. Following the completion of the sale, the chief executive officer directly owned 170,928 shares of the company’s stock, valued at approximately $29,326,116.96. This trade represents a 7.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 25,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $160.67, for a total value of $4,016,750.00. Following the completion of the transaction, the director owned 47,515 shares in the company, valued at approximately $7,634,235.05. This represents a 34.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 80,748 shares of company stock worth $13,085,442 over the last quarter. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of TD SYNNEX by 10.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider’s stock worth $1,119,340,000 after purchasing an additional 759,022 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in TD SYNNEX by 8.5% during the second quarter. JPMorgan Chase & Co. now owns 4,230,059 shares of the business services provider’s stock worth $574,019,000 after buying an additional 330,085 shares during the last quarter. State Street Corp lifted its stake in TD SYNNEX by 0.4% in the third quarter. State Street Corp now owns 2,372,733 shares of the business services provider’s stock valued at $388,535,000 after acquiring an additional 9,024 shares during the last quarter. Ninety One UK Ltd grew its position in shares of TD SYNNEX by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider’s stock valued at $334,876,000 after acquiring an additional 258,630 shares during the period. Finally, LSV Asset Management grew its position 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 acquiring an additional 288,625 shares during the period. 84.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNX. UBS Group increased their price target on TD SYNNEX from $187.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Barclays reduced their target price on TD SYNNEX from $164.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, January 9th. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, The Goldman Sachs Group assumed coverage on shares of TD SYNNEX in a research note on Tuesday, January 13th. They issued a “buy” rating and a $180.00 target price for the company. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $170.64.

TD SYNNEX Stock Down 0.2%

Shares of NYSE:SNX traded down $0.25 during midday trading on Thursday, reaching $160.02. 69,004 shares of the company were exchanged, compared to its average volume of 767,214. The firm has a market cap of $12.90 billion, a PE ratio of 16.05, a P/E/G ratio of 1.12 and a beta of 1.37. TD SYNNEX has a fifty-two week low of $92.23 and a fifty-two week high of $175.56. The stock has a fifty day simple moving average of $156.89 and a two-hundred day simple moving average of $154.10. The company has a quick ratio of 0.75, a current ratio of 1.21 and a debt-to-equity ratio of 0.43.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, January 8th. The business services provider reported $3.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.68 by $0.15. The firm had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $15.46 billion. TD SYNNEX had a return on equity of 12.60% and a net margin of 1.32%.The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.09 EPS. TD SYNNEX has set its Q1 2026 guidance at 3.000-3.500 EPS. As a group, sell-side analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were given a $0.48 dividend. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, January 16th. TD SYNNEX’s payout ratio is presently 19.26%.

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.