Richard Hume Sells 5,000 Shares of TD SYNNEX (NYSE:SNX) Stock

TD SYNNEX Corporation (NYSE:SNX) Director Richard Hume sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 28,537 shares in the company, valued at $6,550,382.98. The trade was a 14.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TD SYNNEX Stock Down 0.6%

Shares of SNX stock opened at $226.49 on Wednesday. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 0.99 and a beta of 1.40. The stock’s 50 day simple moving average is $196.63 and its 200 day simple moving average is $169.49. TD SYNNEX Corporation has a twelve month low of $118.35 and a twelve month high of $242.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $1.49. The company had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business posted $2.80 earnings per share. As a group, research analysts predict that TD SYNNEX Corporation will post 15.69 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. TD SYNNEX’s dividend payout ratio (DPR) is 15.96%.

Wall Street Analysts Forecast Growth

SNX has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Weiss Ratings restated a “buy (b)” rating on shares of TD SYNNEX in a research report on Monday, May 4th. Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. Royal Bank Of Canada boosted their price objective on TD SYNNEX from $210.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, April 30th. Finally, UBS Group boosted their price objective on TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. One 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 company. According to MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus price target of $197.70.

Institutional Trading of TD SYNNEX

Several institutional investors have recently bought and sold shares of the stock. Gamco Investors INC. ET AL boosted its stake in TD SYNNEX by 1.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 4,667 shares of the business services provider’s stock valued at $787,000 after buying an additional 52 shares in the last quarter. Essex Financial Services Inc. boosted its stake in TD SYNNEX by 2.9% in the 1st quarter. Essex Financial Services Inc. now owns 1,957 shares of the business services provider’s stock valued at $330,000 after buying an additional 56 shares in the last quarter. Kesler Norman & Wride LLC boosted its stake in TD SYNNEX by 0.7% in the 1st quarter. Kesler Norman & Wride LLC now owns 8,581 shares of the business services provider’s stock valued at $1,448,000 after buying an additional 61 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in TD SYNNEX by 44.6% in the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock valued at $34,000 after buying an additional 62 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in TD SYNNEX by 3.8% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 1,895 shares of the business services provider’s stock valued at $310,000 after buying an additional 69 shares in 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.