TD SYNNEX Corporation (NYSE:SNX) Receives Consensus Rating of “Buy” from Analysts

TD SYNNEX Corporation (NYSE:SNX) has received a consensus rating of “Buy” from the ten brokerages that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $294.6667.

Several equities analysts have issued reports on SNX shares. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target for the company in a research report on Wednesday, May 27th. UBS Group lifted their price target on shares of TD SYNNEX from $310.00 to $352.00 and gave the stock a “buy” rating in a report on Friday, June 26th. Morgan Stanley boosted their price objective on shares of TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Zacks Research raised TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group set a $330.00 price target on TD SYNNEX in a research report on Friday, June 26th.

Insider Buying and Selling

In other news, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the sale, the director directly owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This represents a 21.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the sale, the director owned 5,828 shares of the company’s stock, valued at approximately $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 21,273 shares of company stock worth $5,401,452 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TD SYNNEX by 9.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock valued at $1,749,000 after acquiring an additional 1,460 shares during the period. Goldman Sachs Group Inc. grew its holdings in TD SYNNEX by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after purchasing an additional 9,815 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in TD SYNNEX by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock valued at $21,226,000 after purchasing an additional 12,615 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in TD SYNNEX in the second quarter valued at $818,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of TD SYNNEX by 17.4% during the second quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 126 shares during the period. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Trading Up 0.6%

Shares of TD SYNNEX stock opened at $255.43 on Thursday. The firm has a market capitalization of $20.42 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 0.72 and a beta of 1.44. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. The firm’s 50 day moving average is $260.47 and its 200 day moving average is $215.47. TD SYNNEX has a 1 year low of $142.22 and a 1 year high of $296.47.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.14 by $0.71. The business had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The business’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.99 EPS. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Equities research analysts forecast that TD SYNNEX will post 18.01 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.8%. TD SYNNEX’s dividend payout ratio (DPR) is presently 13.74%.

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.