Short Interest in TD SYNNEX Corporation (NYSE:SNX) Decreases By 15.6%

TD SYNNEX Corporation (NYSE:SNX) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 1,219,234 shares, a drop of 15.6% from the February 26th total of 1,444,651 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average daily trading volume, of 511,251 shares, the short-interest ratio is currently 2.4 days.

Insider Activity

In related news, CEO Patrick Zammit sold 13,900 shares of TD SYNNEX stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $171.57, for a total transaction of $2,384,823.00. Following the completion of the transaction, the chief executive officer directly owned 170,928 shares in the company, valued at approximately $29,326,116.96. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Merline Saintil sold 167 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total value of $26,344.25. Following the transaction, the director owned 6,995 shares of the company’s stock, valued at approximately $1,103,461.25. This represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 80,915 shares of company stock valued at $13,111,786 in the last quarter. 0.70% of the stock is currently owned by company insiders.

Institutional Trading of TD SYNNEX

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC lifted its stake in TD SYNNEX by 25.3% in the 4th quarter. Virtu Financial LLC now owns 2,008 shares of the business services provider’s stock valued at $302,000 after buying an additional 405 shares in the last quarter. Invesco Ltd. boosted its holdings in TD SYNNEX by 5.3% in the 4th quarter. Invesco Ltd. now owns 741,328 shares of the business services provider’s stock worth $111,370,000 after buying an additional 37,305 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in TD SYNNEX by 230.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,490 shares of the business services provider’s stock worth $975,000 after buying an additional 4,526 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of TD SYNNEX by 28.2% during the fourth quarter. Vident Advisory LLC now owns 34,926 shares of the business services provider’s stock valued at $5,247,000 after acquiring an additional 7,687 shares during the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of TD SYNNEX during the fourth quarter valued at approximately $760,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Analyst Upgrades and Downgrades

SNX has been the topic of a number of analyst reports. The Goldman Sachs Group began coverage on shares of TD SYNNEX in a research note on Tuesday, January 13th. They set a “buy” rating and a $180.00 price objective on the stock. Wall Street Zen raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Zacks Research lowered shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Barrington Research reaffirmed an “outperform” rating and issued a $182.00 price objective on shares of TD SYNNEX in a report on Friday. Finally, UBS Group upped their price objective on shares of TD SYNNEX from $187.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.70.

TD SYNNEX Stock Up 0.1%

TD SYNNEX stock opened at $157.31 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 0.75. The stock has a market capitalization of $12.68 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.13 and a beta of 1.37. The business has a 50 day simple moving average of $158.54 and a 200-day simple moving average of $155.12. TD SYNNEX has a 12 month low of $92.23 and a 12 month high of $175.56.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, January 8th. The business services provider reported $3.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.15. TD SYNNEX had a return on equity of 12.60% and a net margin of 1.32%.The firm had revenue of $17.38 billion for the quarter, compared to analyst estimates of $15.46 billion. During the same quarter last year, the firm posted $3.09 EPS. The business’s revenue was up 9.7% on a year-over-year basis. TD SYNNEX has set its Q1 2026 guidance at 3.000-3.500 EPS. On average, analysts anticipate that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, January 16th. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a yield of 1.2%. TD SYNNEX’s payout ratio is 19.26%.

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.