TD SYNNEX (NYSE:SNX) Reaches New 12-Month High – What’s Next?

TD SYNNEX Corporation (NYSE:SNX)’s share price hit a new 52-week high on Monday . The stock traded as high as $241.84 and last traded at $240.9150, with a volume of 10400 shares. The stock had previously closed at $239.07.

Analyst Ratings Changes

SNX has been the topic of several recent research reports. UBS Group boosted their target price on TD SYNNEX from $193.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Morgan Stanley boosted their target price on TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Barrington Research restated an “outperform” rating and set a $182.00 target price on shares of TD SYNNEX in a report on Friday, March 27th. Barclays boosted their target price on TD SYNNEX from $163.00 to $166.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 1st. Finally, Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $197.70.

TD SYNNEX Trading Up 0.3%

The stock has a market cap of $19.27 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.04 and a beta of 1.40. 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 company’s 50-day moving average price is $184.68 and its 200 day moving average price is $165.10.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, beating the consensus estimate of $3.24 by $1.49. The firm had revenue of $17.16 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.80 EPS. On average, sell-side analysts forecast that TD SYNNEX Corporation will post 15.69 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s payout ratio is presently 15.96%.

Insider Activity

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the sale, the chief financial officer owned 14,035 shares of the company’s stock, valued at $2,659,071.10. The trade was a 18.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the business’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 value of $605,423.50. Following the completion of the sale, the insider directly owned 10,820 shares in the company, valued at approximately $2,165,514.80. The trade was a 21.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 11,417 shares of company stock worth $2,412,026 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

Large investors have recently modified their holdings of the stock. Dorato Capital Management purchased a new stake in shares of TD SYNNEX during the fourth quarter worth $27,000. Ossiam increased its position in shares of TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after acquiring an additional 75 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of TD SYNNEX during the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new position in shares of TD SYNNEX during the third quarter worth $30,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of TD SYNNEX during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.