Insider Selling: TD SYNNEX Corporation (NYSE:SNX) CFO Sells 1,509 Shares of Stock

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) CFO Marshall Witt sold 1,509 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.35, for a total value of $189,153.15. Following the transaction, the chief financial officer now owns 49,563 shares of the company's stock, valued at $6,212,722.05. This trade represents a 2.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TD SYNNEX Trading Up 2.7%

NYSE SNX traded up $3.36 on Monday, reaching $127.75. The company had a trading volume of 1,449,856 shares, compared to its average volume of 734,441. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $145.10. The stock's 50 day moving average is $118.23 and its 200-day moving average is $123.99. The company has a quick ratio of 0.74, a current ratio of 1.27 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 15.95, a PEG ratio of 1.06 and a beta of 1.29.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.16% and a return on equity of 11.54%. The business's revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.99 earnings per share. Equities analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 11th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, April 11th. This represents a $1.76 annualized dividend and a yield of 1.38%. TD SYNNEX's dividend payout ratio is presently 21.97%.

Wall Street Analyst Weigh In

SNX has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Barclays decreased their target price on TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on TD SYNNEX from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Royal Bank Of Canada decreased their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen downgraded shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, TD SYNNEX presently has a consensus rating of "Moderate Buy" and a consensus price target of $138.00.

Institutional Investors Weigh In On TD SYNNEX

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in TD SYNNEX by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider's stock valued at $901,323,000 after acquiring an additional 29,659 shares in the last quarter. FMR LLC lifted its holdings in shares of TD SYNNEX by 3.2% in the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider's stock valued at $898,738,000 after purchasing an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC boosted its position in shares of TD SYNNEX by 12.2% during the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider's stock worth $486,380,000 after buying an additional 451,557 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of TD SYNNEX by 16.9% during the first quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider's stock worth $405,441,000 after buying an additional 564,473 shares in the last quarter. Finally, Abrams Bison Investments LLC raised its position in TD SYNNEX by 19.4% in the 1st quarter. Abrams Bison Investments LLC now owns 2,683,000 shares of the business services provider's stock valued at $278,925,000 after buying an additional 435,000 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Company Profile

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.