TD SYNNEX (NYSE:SNX) Stock Jumps 6.3% – Still a Buy?

TD SYNNEX Corporation (NYSE:SNX)’s share price traded up 6.3% on Thursday. The company traded as high as $272.62 and last traded at $273.1150. Approximately 321,821 shares traded hands during trading, a decline of 61% from the average session volume of 820,835 shares. The stock had previously closed at $256.85.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of TD SYNNEX in a report on Monday, September 14th. UBS Group lifted their price target on TD SYNNEX from $352.00 to $379.00 and gave the company a “buy” rating in a research note on Friday, September 25th. Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Morgan Stanley raised their target price on TD SYNNEX from $334.00 to $359.00 and gave the company an “overweight” rating in a report on Friday, September 25th. Finally, Barrington Research boosted their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $331.14.

TD SYNNEX Price Performance

The firm has a market cap of $22.20 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The company has a current ratio of 1.19, a quick ratio of 0.64 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average price of $258.00 and a 200 day moving average price of $240.13.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, September 24th. The business services provider reported $5.68 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.98. The firm had revenue of $21.56 billion during the quarter, compared to the consensus estimate of $18.91 billion. TD SYNNEX had a return on equity of 16.78% and a net margin of 1.75%.TD SYNNEX’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period last year, the business posted $3.58 EPS. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. On average, sell-side analysts expect that TD SYNNEX Corporation will post 19.89 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, October 16th. TD SYNNEX’s dividend payout ratio is presently 11.70%.

Insider Activity

In other TD SYNNEX news, Director Ann Vezina sold 1,273 shares of TD SYNNEX stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the transaction, the director owned 5,828 shares in the company, valued at approximately $1,492,259.40. The trade was a 17.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Hume sold 5,000 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the completion of the sale, the director owned 18,537 shares in the company, valued at $4,503,934.89. This represents a 21.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,273 shares of company stock valued at $2,851,852 over the last 90 days. 0.70% of the stock is currently owned by insiders.

Institutional Trading of TD SYNNEX

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in TD SYNNEX in the 2nd quarter valued at about $1,958,683,000. Norges Bank purchased a new stake in shares of TD SYNNEX during the fourth quarter worth about $148,559,000. Bank of New York Mellon Corp acquired a new position in shares of TD SYNNEX in the second quarter valued at approximately $149,728,000. Bank of America Corp DE purchased a new position in shares of TD SYNNEX during the second quarter valued at approximately $113,155,000. Finally, Freestone Grove Partners LP purchased a new position in shares of TD SYNNEX during the second quarter valued at approximately $98,650,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Company Profile

TD SYNNEX Corporation is a global technology distributor and solutions aggregator that connects technology vendors with resellers, systems integrators, managed service providers and other channel partners. The company helps bring hardware, software and cloud-based solutions to market while supporting partners with sales, marketing, logistics, financing and technical services.

Its portfolio includes data center and networking equipment, personal computing and endpoint devices, software, cybersecurity products, cloud services, unified communications, mobility solutions and emerging technologies.