Insider Selling: TD SYNNEX (NYSE:SNX) Director Sells $1,169,250.00 in Stock

TD SYNNEX Corporation (NYSE:SNX) Director Richard Hume sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $233.85, for a total value of $1,169,250.00. Following the transaction, the director owned 33,537 shares of the company’s stock, valued at $7,842,627.45. This trade represents a 12.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

TD SYNNEX Trading Up 3.0%

Shares of SNX stock opened at $239.41 on Friday. 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 Corporation has a 1 year low of $117.45 and a 1 year high of $240.47. The stock has a fifty day moving average of $184.68 and a two-hundred day moving average of $165.10. The firm has a market capitalization of $19.25 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.01 and a beta of 1.40.

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

TD SYNNEX Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SNX. The Goldman Sachs Group upped their price objective on TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. UBS Group upped their price objective on TD SYNNEX from $193.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday. Barrington Research restated an “outperform” rating and issued a $182.00 price objective on shares of TD SYNNEX in a report on Friday, March 27th. Finally, Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $197.70.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently modified their holdings of the stock. Dorato Capital Management acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $27,000. Ossiam raised 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 purchasing an additional 75 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of TD SYNNEX during the third quarter worth $30,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of TD SYNNEX during the fourth quarter worth $32,000. 84.00% of the stock is owned by institutional investors and hedge funds.

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.