TD SYNNEX Corporation (NYSE:SNX - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $242.99 and last traded at $242.75, with a volume of 29482 shares. The stock had previously closed at $237.34.
Analyst Ratings Changes
SNX has been the subject of several recent analyst reports. Barrington Research reaffirmed an "outperform" rating and issued a $182.00 price target on shares of TD SYNNEX in a research report on Friday, March 27th. Royal Bank Of Canada raised their price objective on shares of TD SYNNEX from $210.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. lifted their target price on shares of TD SYNNEX from $185.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, April 16th. Barclays increased their price target on shares of TD SYNNEX from $163.00 to $166.00 and gave the company an "equal weight" rating in a report on Wednesday, April 1st. Finally, Wall Street Zen raised shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, TD SYNNEX presently has an average rating of "Moderate Buy" and a consensus target price of $197.70.
Check Out Our Latest Stock Analysis on TD SYNNEX
TD SYNNEX Trading Up 2.1%
The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. The firm has a market cap of $19.49 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. The stock has a 50-day simple moving average of $202.89 and a two-hundred day simple moving average of $171.74.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping 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%. The business's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.80 earnings per share. As a group, sell-side analysts anticipate that TD SYNNEX Corporation will post 15.69 EPS for the current year.
TD SYNNEX Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX's payout ratio is currently 15.96%.
Insider Transactions at TD SYNNEX
In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the transaction, the chief financial officer owned 14,035 shares of the company's stock, valued at approximately $2,659,071.10. This represents a 18.68% 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, Director Richard T. Hume sold 5,000 shares of the business's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $229.54, for a total value of $1,147,700.00. Following the sale, the director owned 28,537 shares of the company's stock, valued at approximately $6,550,382.98. This represents a 14.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 16,417 shares of company stock valued at $3,559,726. Corporate insiders own 0.70% of the company's stock.
Institutional Trading of TD SYNNEX
Several large investors have recently added to or reduced their stakes in SNX. State Street Corp raised its position in TD SYNNEX by 0.4% in the third quarter. State Street Corp now owns 2,372,733 shares of the business services provider's stock worth $388,535,000 after acquiring an additional 9,024 shares during the period. Ninety One UK Ltd increased its stake in shares of TD SYNNEX by 13.1% in the 4th quarter. Ninety One UK Ltd now owns 2,229,091 shares of the business services provider's stock worth $334,876,000 after purchasing an additional 258,630 shares in the last quarter. LSV Asset Management raised its holdings in TD SYNNEX by 16.1% in the 4th quarter. LSV Asset Management now owns 2,086,604 shares of the business services provider's stock worth $313,471,000 after purchasing an additional 288,625 shares during the period. Geode Capital Management LLC raised its holdings in TD SYNNEX by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider's stock worth $230,315,000 after purchasing an additional 99,090 shares during the period. Finally, Metropolis Capital Ltd lifted its position in TD SYNNEX by 9.5% during 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 purchasing an additional 111,222 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors.
About TD SYNNEX
(
Get Free Report)
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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