TD SYNNEX (NYSE:SNX) Hits New 1-Year High - What's Next?

Key Points

• TD SYNNEX hit a new 52-week high of $215.01 on Monday, last trading around $214.49 on a volume of about 752,849 shares.
• The company reported a sizable quarterly earnings beat — $4.73 EPS vs. $3.24 expected and $17.16 billion in revenue vs. $15.59 billion expected, with revenue up 18.1% year‑over‑year.
• Analysts have been raising targets (e.g., Goldman to $205) and the stock carries a MarketBeat consensus of Moderate Buy with a $186.50 target, while institutional investors have added large stakes even as some insiders sold shares; TD SYNNEX also declared a $0.48 quarterly dividend (0.9% yield).

TD SYNNEX Corporation (NYSE:SNX - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $215.01 and last traded at $214.4930, with a volume of 752849 shares. The stock had previously closed at $214.32.

Analysts Set New Price Targets

Several equities research analysts have commented on SNX shares. Barclays boosted their target price on TD SYNNEX from $163.00 to $166.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 1st. The Goldman Sachs Group boosted their target price on TD SYNNEX from $180.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Morgan Stanley boosted their target price on TD SYNNEX from $172.00 to $174.00 and gave the stock an "overweight" rating in a report on Friday, March 20th. Zacks Research raised TD SYNNEX from a "hold" rating to a "strong-buy" rating in a report on Monday, April 6th. Finally, UBS Group boosted their target price on TD SYNNEX from $187.00 to $193.00 and gave the stock a "buy" rating in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $186.50.

TD SYNNEX Stock Performance

The company has a market cap of $17.26 billion, a PE ratio of 17.84, a PEG ratio of 1.10 and a beta of 1.23. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The business has a 50-day moving average of $169.54 and a 200 day moving average of $159.27.

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

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Wednesday, April 15th. TD SYNNEX's dividend payout ratio is 15.96%.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 23,365 shares of the company's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $160.63, for a total transaction of $3,753,119.95. Following the completion of the sale, the director owned 42,515 shares in the company, valued at approximately $6,829,184.45. This represents a 35.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick Zammit sold 13,900 shares of the company's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $171.57, for a total value of $2,384,823.00. Following the sale, the chief executive officer owned 170,928 shares of the company's stock, valued at approximately $29,326,116.96. This trade represents a 7.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 82,165 shares of company stock valued at $13,559,368 in the last 90 days. 0.70% of the stock is owned by company insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently bought and sold shares of SNX. Norges Bank purchased a new stake in TD SYNNEX in the fourth quarter worth about $148,559,000. Alyeska Investment Group L.P. purchased a new stake in TD SYNNEX in the third quarter worth about $135,631,000. AQR Capital Management LLC increased its position in TD SYNNEX by 141.8% in the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider's stock worth $140,431,000 after buying an additional 548,180 shares in the last quarter. Victory Capital Management Inc. increased its position in TD SYNNEX by 123.6% in the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider's stock worth $119,263,000 after buying an additional 402,573 shares in the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in TD SYNNEX in the fourth quarter worth about $60,104,000. Hedge funds and other institutional investors own 84.00% of the company's stock.

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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