TD SYNNEX (NYSE:SNX) Stock Jumps 6.3% – Should You Buy?

Shares of TD SYNNEX Corporation (NYSE:SNX) were 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 daily volume of 820,835 shares. The stock had previously closed at $256.85.

Analyst Upgrades and Downgrades

SNX has been the subject of several analyst reports. Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a report on Friday, June 26th. UBS Group lifted their price target on shares of TD SYNNEX from $352.00 to $379.00 and gave the company a “buy” rating in a report on Friday, September 25th. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Barrington Research increased their price objective on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Finally, Barclays raised their price objective on shares of TD SYNNEX from $278.00 to $287.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, TD SYNNEX has a consensus rating of “Buy” and an average price target of $331.14.

TD SYNNEX Trading Up 2.5%

The stock has a market cap of $22.27 billion, a P/E ratio of 16.97, a price-to-earnings-growth ratio of 0.63 and a beta of 1.37. The stock’s 50-day moving average is $259.20 and its two-hundred day moving average is $241.23. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.64.

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

TD SYNNEX Announces Dividend

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

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $262.21, for a total value of $1,311,050.00. Following the sale, the director owned 13,537 shares of the company’s stock, valued at $3,549,536.77. The trade was a 26.97% decrease in their position. The transaction was disclosed in a legal filing 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 company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $256.05, for a total value of $325,951.65. Following the sale, the director directly owned 5,828 shares in the company, valued at $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 11,273 shares of company stock worth $2,851,852 over the last quarter. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bell Investment Advisors Inc purchased a new position in TD SYNNEX in the second quarter worth about $27,000. Fiduciary Financial Advisors purchased a new stake in TD SYNNEX during the second quarter valued at approximately $28,000. Compass Financial Management LLC bought a new stake in shares of TD SYNNEX in the 2nd quarter valued at approximately $38,000. Parkside Financial Bank & Trust lifted its stake in shares of TD SYNNEX by 32.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 158 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 39 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new position in shares of TD SYNNEX in the 2nd quarter worth approximately $45,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

About TD SYNNEX

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.