TD SYNNEX (NYSE:SNX) CFO David Gregory Jordan Sells 3,225 Shares

TD SYNNEX Corporation (NYSE:SNX) CFO David Gregory Jordan sold 3,225 shares of TD SYNNEX stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total value of $611,008.50. Following the completion of the transaction, the chief financial officer owned 14,035 shares in the company, valued at $2,659,071.10. This trade represents a 18.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

TD SYNNEX Price Performance

SNX opened at $192.82 on Tuesday. The business’s 50-day moving average is $162.02 and its two-hundred day moving average is $156.35. TD SYNNEX Corporation has a 1 year low of $92.23 and a 1 year high of $193.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.75. The firm has a market capitalization of $15.55 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.08 and a beta of 1.23.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The company had revenue of $17.16 billion for 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 firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Research analysts anticipate that TD SYNNEX Corporation will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, April 15th. TD SYNNEX’s payout ratio is currently 15.96%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SNX. UBS Group lifted their price target on shares of TD SYNNEX from $187.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, January 9th. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TD SYNNEX in a report on Wednesday, January 21st. The Goldman Sachs Group upped their price objective on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, April 2nd. Finally, Barrington Research restated an “outperform” rating and set a $182.00 price objective on shares of TD SYNNEX in a report on Friday, March 27th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.00.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently made changes to their positions in the company. Dorato Capital Management acquired a new position in shares of TD SYNNEX in the 4th quarter valued at $27,000. Ossiam boosted its position in TD SYNNEX by 84.3% in the third quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in TD SYNNEX in the fourth quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC purchased a new stake in TD SYNNEX in the third quarter valued at approximately $30,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in TD SYNNEX in the fourth quarter valued at approximately $32,000. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Company Profile

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.