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 the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $229.54, for a total transaction of $1,147,700.00. Following the completion of the sale, the director directly owned 28,537 shares in the company, valued at $6,550,382.98. This trade represents a 14.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TD SYNNEX Stock Down 0.9%

Shares of SNX stock traded down $2.06 during trading on Monday, reaching $228.23. The company’s stock had a trading volume of 555,063 shares, compared to its average volume of 675,647. 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 company has a market capitalization of $18.35 billion, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.01 and a beta of 1.40. The stock’s 50-day moving average price is $195.23 and its 200 day moving average price is $168.99. TD SYNNEX Corporation has a 1-year low of $118.35 and a 1-year high of $242.49.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, beating analysts’ consensus estimates of $3.24 by $1.49. The firm had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.80 earnings per share. On average, research analysts anticipate that TD SYNNEX Corporation will post 15.69 EPS for the current year.

TD SYNNEX Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of TD SYNNEX by 9.5% in the 1st 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 buying an additional 1,460 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of TD SYNNEX by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock valued at $18,631,000 after buying an additional 9,815 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of TD SYNNEX by 6.6% in the 1st 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 valued at $21,226,000 after buying an additional 12,615 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of TD SYNNEX in the 2nd quarter valued at $818,000. Finally, EverSource Wealth Advisors LLC boosted its stake in TD SYNNEX by 17.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock worth $116,000 after purchasing an additional 126 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of TD SYNNEX in a report on Monday, May 4th. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Barrington Research reiterated an “outperform” rating and set a $182.00 price target on shares of TD SYNNEX in a report on Friday, March 27th. UBS Group boosted their price target on shares of TD SYNNEX from $193.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group boosted their price target on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and a consensus price target of $197.70.

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.