Alim Dhanji Sells 1,257 Shares of TD SYNNEX Corporation (NYSE:SNX) Stock

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) insider Alim Dhanji sold 1,257 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the transaction, the insider directly owned 10,984 shares of the company's stock, valued at $1,564,231.44. This represents a 10.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

TD SYNNEX Stock Performance

SNX traded up $0.82 during trading on Friday, hitting $146.71. The stock had a trading volume of 676,696 shares, compared to its average volume of 695,784. The firm has a market cap of $12.10 billion, a PE ratio of 17.14, a P/E/G ratio of 1.20 and a beta of 1.30. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $147.18. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The company has a 50 day simple moving average of $131.88 and a 200-day simple moving average of $127.48.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.71 by $0.28. The firm had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.73 EPS. Analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, July 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.20%. TD SYNNEX's payout ratio is 20.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC increased its holdings in shares of TD SYNNEX by 20.1% during the 4th quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock worth $11,448,000 after purchasing an additional 16,310 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of TD SYNNEX by 36.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 75,778 shares of the business services provider's stock worth $7,878,000 after purchasing an additional 20,280 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of TD SYNNEX by 3.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,252 shares of the business services provider's stock worth $754,000 after purchasing an additional 244 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of TD SYNNEX by 11.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,361 shares of the business services provider's stock valued at $765,000 after acquiring an additional 785 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of TD SYNNEX by 25.5% during the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider's stock valued at $8,297,000 after acquiring an additional 14,379 shares in the last quarter. Institutional investors own 84.00% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays set a $140.00 target price on shares of TD SYNNEX in a research report on Tuesday, June 24th. Cfra cut their target price on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research report on Friday, March 28th. JPMorgan Chase & Co. increased their target price on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $149.30.

About TD SYNNEX

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.