TD SYNNEX (NYSE:SNX) CFO David Gregory Jordan Sells 3,225 Shares

Key Points

• CFO David Gregory Jordan sold 3,225 shares on April 6 at an average price of $189.46, a $611,008.50 transaction that reduced his holdings by 18.68% to 14,035 shares valued at about $2.66 million.
• TD SYNNEX beat quarterly estimates, reporting EPS of $4.73 versus $3.24 expected and revenue of $17.16 billion (up 18.1% year-over-year), and announced a quarterly dividend of $0.48 ($1.92 annualized, 1.0% yield; ex-dividend April 15).
• SNX traded up about 3.2% to $192.82 on higher volume, while several major analysts (RBC, Goldman Sachs, JPMorgan, etc.) raised price targets, leaving a consensus rating of “Moderate Buy” with a $183 target.

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) CFO David Gregory Jordan sold 3,225 shares of TD SYNNEX stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total transaction of $611,008.50. Following the sale, the chief financial officer owned 14,035 shares of the company's stock, valued at $2,659,071.10. The trade was a 18.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

TD SYNNEX Trading Up 3.2%

SNX stock traded up $5.90 during mid-day trading on Monday, reaching $192.82. The company had a trading volume of 946,504 shares, compared to its average volume of 799,689. The company has a market capitalization of $15.55 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23. The firm has a 50 day moving average of $161.27 and a 200 day moving average of $156.06. TD SYNNEX Corporation has a 12 month low of $92.23 and a 12 month high of $193.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.75.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, beating the consensus estimate of $3.24 by $1.49. The firm had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The company's revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 earnings per share. On average, equities analysts predict that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, April 15th. TD SYNNEX's dividend payout ratio is currently 15.96%.

Analyst Upgrades and Downgrades

SNX has been the subject of several recent research reports. Royal Bank Of Canada lifted their price objective on TD SYNNEX from $180.00 to $210.00 and gave the company an "outperform" rating in a report on Wednesday, April 1st. The Goldman Sachs Group raised their target price on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of TD SYNNEX from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. Zacks Research cut shares of TD SYNNEX from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 15th. Finally, Morgan Stanley increased their price objective on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an "overweight" rating in a research note on Friday, March 20th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, TD SYNNEX has an average rating of "Moderate Buy" and a consensus target price of $183.00.

Institutional Trading of TD SYNNEX

Several hedge funds have recently modified their holdings of the company. Virtu Financial LLC raised its stake in shares of TD SYNNEX by 25.3% during the 4th quarter. Virtu Financial LLC now owns 2,008 shares of the business services provider's stock worth $302,000 after acquiring an additional 405 shares in the last quarter. Invesco Ltd. grew its holdings in TD SYNNEX by 5.3% in the fourth quarter. Invesco Ltd. now owns 741,328 shares of the business services provider's stock worth $111,370,000 after purchasing an additional 37,305 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of TD SYNNEX by 230.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,490 shares of the business services provider's stock worth $975,000 after purchasing an additional 4,526 shares in the last quarter. Vident Advisory LLC increased its position in shares of TD SYNNEX by 28.2% during the fourth quarter. Vident Advisory LLC now owns 34,926 shares of the business services provider's stock worth $5,247,000 after purchasing an additional 7,687 shares in the last quarter. Finally, EP Wealth Advisors LLC purchased a new stake in shares of TD SYNNEX during the 4th quarter valued at $760,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.

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