TD SYNNEX (NYSE:SNX) Hits New 12-Month High - Here's What Happened

Key Points

• TD SYNNEX hit a new 52-week high, trading as high as $205.53 (last $204.62) on Monday with about 413,343 shares changing hands.
• Quarterly results beat expectations: the company reported EPS of $4.73 vs. $3.24 expected and revenue of $17.16B vs. $15.59B, with revenue up 18.1% year‑over‑year.
• Analyst view and dividend: the consensus is a "Moderate Buy" with an average target of $183 (below the current price) after several upgrades, and TD SYNNEX declared a $0.48 quarterly dividend (0.9% yield, ex‑dividend April 15).

TD SYNNEX Corporation (NYSE:SNX - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $205.53 and last traded at $204.6180, with a volume of 413343 shares changing hands. The stock had previously closed at $199.69.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SNX shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of TD SYNNEX in a research report on Wednesday, January 21st. Barrington Research reiterated an "outperform" rating and issued a $182.00 target price on shares of TD SYNNEX in a research report on Friday, March 27th. Barclays increased their target price on shares of TD SYNNEX from $163.00 to $166.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 1st. Zacks Research upgraded shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 6th. Finally, UBS Group increased their target price on shares of TD SYNNEX from $187.00 to $193.00 and gave the company a "buy" rating in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $183.00.

TD SYNNEX Price Performance

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 stock's fifty day moving average is $165.17 and its 200-day moving average is $157.70. The stock has a market cap of $16.60 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.03 and a beta of 1.23.

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

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, April 15th. TD SYNNEX's dividend payout ratio (DPR) is 15.96%.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Miriam Anne Murphy sold 3,025 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the completion of the transaction, the insider owned 10,820 shares of the company's stock, valued at $2,165,514.80. This trade represents a 21.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick Zammit sold 13,900 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $171.57, for a total transaction of $2,384,823.00. Following the transaction, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,165 shares of company stock valued at $13,559,368 over the last quarter. 0.70% of the stock is owned by insiders.

Institutional Trading of TD SYNNEX

Several hedge funds have recently added to or reduced their stakes in SNX. Parcion Private Wealth LLC raised its holdings in TD SYNNEX by 0.4% during the third quarter. Parcion Private Wealth LLC now owns 15,189 shares of the business services provider's stock worth $2,487,000 after purchasing an additional 68 shares in the last quarter. Cornerstone Wealth Management LLC grew its position in shares of TD SYNNEX by 3.8% during the third quarter. Cornerstone Wealth Management LLC now owns 1,895 shares of the business services provider's stock worth $310,000 after acquiring an additional 69 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its position in shares of TD SYNNEX by 3.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,107 shares of the business services provider's stock worth $317,000 after acquiring an additional 71 shares during the last quarter. Quadrant Capital Group LLC grew its position in shares of TD SYNNEX by 1.0% during the fourth quarter. Quadrant Capital Group LLC now owns 7,588 shares of the business services provider's stock worth $1,140,000 after acquiring an additional 73 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of TD SYNNEX by 10.6% during the third quarter. Jones Financial Companies Lllp now owns 775 shares of the business services provider's stock worth $127,000 after acquiring an additional 74 shares during the last quarter. Institutional investors and hedge funds 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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