TD SYNNEX (NYSE:SNX) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of TD SYNNEX (NYSE:SNX) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday morning,Zacks.com reports.

A number of other research firms have also recently commented on SNX. The Goldman Sachs Group set a $330.00 price target on TD SYNNEX in a report on Friday, June 26th. Barclays lifted their target price on TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. Royal Bank Of Canada set a $340.00 target price on TD SYNNEX in a research note on Friday, June 26th. Weiss Ratings downgraded shares of TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price target on the stock in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $290.11.

TD SYNNEX Stock Performance

NYSE SNX opened at $261.60 on Tuesday. The firm’s 50 day simple moving average is $252.94 and its 200 day simple moving average is $194.76. The firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 0.75 and a beta of 1.43. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. TD SYNNEX has a 1 year low of $134.31 and a 1 year high of $296.47.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The business had revenue of $19.57 billion during the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the previous year, the business earned $2.99 earnings per share. The company’s revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, research analysts expect that TD SYNNEX will post 18.02 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a dividend of $0.48 per share. The ex-dividend date is Friday, July 17th. This represents a $1.92 annualized dividend and a yield of 0.7%. TD SYNNEX’s dividend payout ratio (DPR) is currently 13.74%.

Insiders Place Their Bets

In related news, insider Miriam Anne Murphy sold 3,025 shares of the stock in a transaction on Thursday, April 9th. The stock was 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 $2,165,514.80. This represents a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $280.38, for a total value of $1,401,900.00. Following the transaction, the director directly owned 23,537 shares of the company’s stock, valued at approximately $6,599,304.06. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,250 shares of company stock valued at $4,935,282 in the last ninety days. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of TD SYNNEX during the fourth quarter worth about $148,559,000. Alyeska Investment Group L.P. bought a new stake in TD SYNNEX in the third quarter valued at approximately $135,631,000. AQR Capital Management LLC boosted its holdings in TD SYNNEX by 141.8% in the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after acquiring an additional 548,180 shares during the last quarter. Victory Capital Management Inc. increased its position in TD SYNNEX by 123.6% during the 3rd quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock valued at $119,263,000 after purchasing an additional 402,573 shares during the period. Finally, Wedge Capital Management L L P NC bought a new position in TD SYNNEX during the 4th quarter worth approximately $60,104,000. Institutional investors 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.