TD SYNNEX (NYSE:SNX) Reaches New 12-Month High on Strong Earnings

TD SYNNEX Corporation (NYSE:SNX) hit a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $183.19 and last traded at $182.8120, with a volume of 282895 shares trading hands. The stock had previously closed at $168.71.

The business services provider reported $4.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, April 15th. TD SYNNEX’s dividend payout ratio is 15.96%.

Key Headlines Impacting TD SYNNEX

Here are the key news stories impacting TD SYNNEX this week:

• Positive Sentiment: Blowout Q1 results: SNX reported record fiscal Q1 results with revenue of $17.16B (up 18.1% YoY) and non-GAAP EPS of $4.73, materially beating estimates — the primary catalyst for the stock’s move higher today. Zacks: Q1 Earnings
• Positive Sentiment: Upbeat guidance and AI/cloud commentary: Management issued a positive Q2 outlook and tied demand to AI infrastructure, hyperscalers and cloud spending — signaling revenue momentum and supporting a re-rating. Quiver Quant: Earnings & Outlook
• Positive Sentiment: Dividend declared: SNX announced a quarterly cash dividend ($0.48 per share, record April 15, payable April 29), which supports yield-oriented investor demand. (Company press release disclosures)
• Neutral Sentiment: Partnerships/market positioning: New distribution partnerships (e.g., FatPipe) expand product reach and support long-term growth but are incremental versus the earnings beat. PR Newswire: FatPipe Partnership
• Neutral Sentiment: Analysts mixed — price-target moves: JPMorgan raised its target to $185 but kept a “neutral” rating (limited endorsement of further upside). That provides some support but not a bullish stamp. Benzinga: JPMorgan PT Raise
• Negative Sentiment: Barclays keeps cautious stance: Barclays raised its PT to $166 but maintains an “equal weight” view — the new target implies meaningful downside from current levels and is a restraint on sentiment. TickerReport / Benzinga: Barclays PT
• Negative Sentiment: Insider and institutional selling: Public filings show heavy insider sales and notable institutional position reductions by several large managers in recent quarters — a potential headwind if selling pressure persists. Quiver Quant: Insider & Institutional Activity

Analysts Set New Price Targets

SNX has been the subject of a number of research reports. Barclays lifted their price target on TD SYNNEX from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley lifted their target price on TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of TD SYNNEX in a report on Wednesday, January 21st. Finally, Wall Street Zen raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $177.50.

Insider Buying and Selling

In other TD SYNNEX news, Director Merline Saintil sold 167 shares of the firm’s stock in a transaction dated 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 $1,103,461.25. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard T. Hume sold 23,365 shares of TD SYNNEX stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $160.63, for a total value of $3,753,119.95. Following the completion of the transaction, the director owned 42,515 shares of the company’s stock, valued at approximately $6,829,184.45. The trade was a 35.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,915 shares of company stock worth $13,111,786 over the last quarter. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TD SYNNEX by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock valued at $1,749,000 after buying an additional 1,460 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of TD SYNNEX by 5.8% during the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after acquiring an additional 9,815 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of TD SYNNEX by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after acquiring an additional 12,615 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in TD SYNNEX by 12.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,155 shares of the business services provider’s stock valued at $428,000 after purchasing an additional 337 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its position in TD SYNNEX by 716.7% in the 2nd quarter. Hsbc Holdings PLC now owns 36,246 shares of the business services provider’s stock valued at $4,880,000 after purchasing an additional 31,808 shares during the last quarter. 84.00% of the stock is currently owned by institutional investors.

TD SYNNEX Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.22. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.21 and a beta of 1.22. The business’s 50 day simple moving average is $159.91 and its 200-day simple moving average is $155.50.

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.