Miriam Anne Murphy Sells 3,025 Shares of TD SYNNEX (NYSE:SNX) Stock

TD SYNNEX Corporation (NYSE:SNX) insider Miriam Anne Murphy sold 3,025 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider directly owned 10,820 shares of the company’s stock, valued at approximately $2,165,514.80. This represents a 21.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

TD SYNNEX Trading Down 0.1%

SNX stock traded down $0.27 during midday trading on Thursday, reaching $199.95. The company’s stock had a trading volume of 881,188 shares, compared to its average volume of 818,523. TD SYNNEX Corporation has a 52 week low of $98.75 and a 52 week high of $205.01. The stock has a market cap of $16.12 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.41. The business’s 50-day simple moving average is $163.58 and its 200-day simple moving average is $156.98.

TD SYNNEX (NYSE:SNX) 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. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The firm had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $15.59 billion. During the same period last year, the firm earned $2.80 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, sell-side analysts expect that TD SYNNEX Corporation will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 1.0%. TD SYNNEX’s dividend payout ratio (DPR) is presently 15.96%.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $148,559,000. Alyeska Investment Group L.P. acquired a new stake in shares of TD SYNNEX during the third quarter worth $135,631,000. AQR Capital Management LLC raised its holdings in shares of TD SYNNEX by 141.8% during the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock worth $140,431,000 after acquiring an additional 548,180 shares during the period. Victory Capital Management Inc. raised its holdings in shares of TD SYNNEX by 123.6% during the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock worth $119,263,000 after acquiring an additional 402,573 shares during the period. Finally, Wedge Capital Management L L P NC acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $60,104,000. 84.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. JPMorgan Chase & Co. raised their price objective on shares of TD SYNNEX from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Morgan Stanley raised 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TD SYNNEX in a research note on Wednesday, January 21st. Finally, Barclays raised their price objective on shares of TD SYNNEX from $163.00 to $166.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $183.00.

TD SYNNEX Company Profile

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.