TD SYNNEX (NYSE:SNX) Stock Price Up 4.1% - Here's What Happened

Key Points

• TD SYNNEX shares rose 4.1% to about $294.90 in mid-day trading, with volume slightly above its daily average.
• The company’s latest quarterly results exceeded expectations, reporting $4.85 EPS versus the $4.14 consensus and $19.57 billion in revenue, up 31% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $291.22; TD SYNNEX also declared a quarterly dividend of $0.48 per share, yielding approximately 0.7%.

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) shares rose 4.1% during mid-day trading on Wednesday . The company traded as high as $297.58 and last traded at $294.9030. Approximately 843,437 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 791,496 shares. The stock had previously closed at $283.25.

Analysts Set New Price Targets

SNX has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a research note on Friday, June 26th. Morgan Stanley cut their price objective on shares of TD SYNNEX from $374.00 to $334.00 and set an "overweight" rating on the stock in a research report on Tuesday, September 15th. Zacks Research lowered TD SYNNEX from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Barclays raised their price target on shares of TD SYNNEX from $278.00 to $287.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. raised TD SYNNEX from a "neutral" rating to an "overweight" rating and set a $298.00 target price for the company in a report on Wednesday, May 27th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, TD SYNNEX has an average rating of "Moderate Buy" and an average target price of $291.22.

TD SYNNEX Stock Up 2.0%

The stock has a market cap of $23.10 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 0.78 and a beta of 1.43. The business's 50 day moving average is $255.88 and its 200-day moving average is $235.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, beating analysts' consensus estimates of $4.14 by $0.71. The firm had revenue of $19.57 billion for 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%. TD SYNNEX's quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the company posted $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. On average, sell-side analysts predict that TD SYNNEX Corporation will post 18.16 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were given a dividend of $0.48 per share. The ex-dividend date was Friday, July 17th. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. TD SYNNEX's payout ratio is presently 13.74%.

Insider Activity

In other TD SYNNEX news, Director Ann F. Vezina sold 1,273 shares of TD SYNNEX stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the transaction, the director directly owned 5,828 shares of the company's stock, valued at $1,492,259.40. The trade was a 17.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $262.21, for a total value of $1,311,050.00. Following the completion of the transaction, the director owned 13,537 shares in the company, valued at $3,549,536.77. This represents a 26.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 11,273 shares of company stock valued at $2,851,852. 0.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of TD SYNNEX during the second quarter worth $1,958,683,000. Geode Capital Management LLC lifted its stake in TD SYNNEX by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider's stock worth $230,315,000 after acquiring an additional 99,090 shares during the last quarter. Metropolis Capital Ltd increased its holdings in TD SYNNEX by 9.5% in the first quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider's stock valued at $216,169,000 after buying an additional 111,222 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of TD SYNNEX during the 2nd quarter worth about $149,728,000. Finally, Norges Bank acquired a new stake in TD SYNNEX during the fourth quarter worth approximately $148,559,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

TD SYNNEX Company Profile

TD SYNNEX Corporation NYSE: SNX is a global technology distributor and solutions aggregator that connects technology manufacturers with resellers, systems integrators, managed service providers and other business partners. The company helps its partners design, procure, configure and deliver technology solutions to organizations across a range of industries.

Its portfolio includes personal computing devices, peripherals, networking equipment, data-center infrastructure, cybersecurity products, software and cloud services.

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