TD SYNNEX Corporation (NYSE:SNX - Get Free Report) insider Alim Dhanji sold 1,257 shares of TD SYNNEX stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the transaction, the insider owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This represents a 10.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
TD SYNNEX Trading Up 0.6%
SNX traded up $0.82 during trading hours on Friday, reaching $146.71. The company's stock had a trading volume of 676,696 shares, compared to its average volume of 695,784. TD SYNNEX Corporation has a fifty-two week low of $92.23 and a fifty-two week high of $147.18. The stock has a market cap of $12.10 billion, a PE ratio of 17.14, a P/E/G ratio of 1.19 and a beta of 1.30. The business's 50-day moving average is $131.88 and its 200-day moving average is $127.44. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.26 and a quick ratio of 0.75.
TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. TD SYNNEX had a return on equity of 11.58% and a net margin of 1.21%. The firm had revenue of $14.95 billion for the quarter, compared to analysts' expectations of $14.30 billion. During the same period in the prior year, the firm posted $2.73 earnings per share. The firm's quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.
TD SYNNEX Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, July 11th. TD SYNNEX's dividend payout ratio is presently 20.56%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its stake in TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider's stock worth $25,000 after purchasing an additional 188 shares in the last quarter. Versant Capital Management Inc lifted its stake in TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after purchasing an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in TD SYNNEX during the first quarter worth $44,000. Finally, Quarry LP acquired a new position in TD SYNNEX during the first quarter worth $51,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
SNX has been the subject of several recent analyst reports. Cfra cut their price target on TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Royal Bank Of Canada reiterated an "outperform" rating and set a $145.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 25th. Bank of America boosted their price objective on TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday. UBS Group cut their price objective on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Barclays set a $140.00 price objective on TD SYNNEX in a research note on Tuesday, June 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $149.30.
Get Our Latest Analysis on TD SYNNEX
TD SYNNEX Company Profile
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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.
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