Key Points
- Insider sale: Alim Dhanji sold 3,775 TD SYNNEX shares for approximately $909,813, reducing his holdings by 24.38% to 11,712 shares.
- Strong quarterly results: TD SYNNEX reported adjusted earnings of $5.68 per share and revenue of $21.56 billion, exceeding analyst estimates and representing 37.7% year-over-year revenue growth.
- Positive analyst sentiment: The stock has an average “Buy” rating and a consensus price target of $331.14, while institutional investors own approximately 84% of the company.
TD SYNNEX Corporation (NYSE:SNX - Get Free Report) insider Alim Dhanji sold 3,775 shares of TD SYNNEX stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $241.01, for a total value of $909,812.75. Following the completion of the sale, the insider owned 11,712 shares in the company, valued at approximately $2,822,709.12. This trade represents a 24.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
TD SYNNEX Stock Performance
NYSE:SNX opened at $247.35 on Friday. The stock has a market cap of $19.73 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 0.49 and a beta of 1.37. TD SYNNEX Corporation has a fifty-two week low of $142.22 and a fifty-two week high of $298.77. The firm's fifty day simple moving average is $261.40 and its 200-day simple moving average is $251.50. The company has a quick ratio of 0.64, a current ratio of 1.19 and a debt-to-equity ratio of 0.39.
TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, September 24th. The business services provider reported $5.68 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.98. TD SYNNEX had a net margin of 1.75% and a return on equity of 16.78%. The company had revenue of $21.56 billion for the quarter, compared to analyst estimates of $18.91 billion. During the same period in the prior year, the business posted $3.58 earnings per share. The firm's revenue for the quarter was up 37.7% compared to the same quarter last year. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. Analysts expect that TD SYNNEX Corporation will post 20.35 earnings per share for the current fiscal year.
TD SYNNEX Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $1.92 annualized dividend and a dividend yield of 0.8%. TD SYNNEX's payout ratio is 11.70%.
Analyst Ratings Changes
A number of research firms have commented on SNX. Weiss Ratings downgraded TD SYNNEX from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday. Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a research report on Friday, June 26th. The Goldman Sachs Group set a $330.00 target price on shares of TD SYNNEX in a research report on Friday, June 26th. UBS Group upped their price objective on TD SYNNEX from $352.00 to $379.00 and gave the company a "buy" rating in a research report on Friday, September 25th. Finally, Zacks Research upgraded shares of TD SYNNEX from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, TD SYNNEX presently has an average rating of "Buy" and an average price target of $331.14.
Check Out Our Latest Report on TD SYNNEX
Hedge Funds Weigh In On TD SYNNEX
Large investors have recently bought and sold shares of the stock. Provident Investment Management Inc. raised its holdings in shares of TD SYNNEX by 2.2% during the 3rd quarter. Provident Investment Management Inc. now owns 3,426 shares of the business services provider's stock valued at $880,000 after buying an additional 75 shares during the period. Signaturefd LLC boosted its holdings in TD SYNNEX by 9.0% in the 3rd quarter. Signaturefd LLC now owns 1,102 shares of the business services provider's stock worth $283,000 after acquiring an additional 91 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in TD SYNNEX by 6.7% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,136 shares of the business services provider's stock worth $549,000 after acquiring an additional 135 shares during the period. Wedbush Securities Inc. grew its position in TD SYNNEX by 21.6% in the third quarter. Wedbush Securities Inc. now owns 913 shares of the business services provider's stock valued at $234,000 after acquiring an additional 162 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in TD SYNNEX by 1.9% in the third quarter. Yousif Capital Management LLC now owns 22,672 shares of the business services provider's stock valued at $5,823,000 after acquiring an additional 420 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company's stock.
About TD SYNNEX
(
Get Free Report)
TD SYNNEX Corporation (NYSE: SNX) is a global technology distributor and solutions aggregator. The company connects technology vendors with resellers, systems integrators, managed service providers, retailers and other channel partners, helping them market, sell, deploy and support technology products and services.
Its offerings include personal computing and endpoint devices, servers, data-center and networking equipment, software, cloud solutions, cybersecurity products, and related professional and managed services.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
