Simon Leung Sells 6,249 Shares of TD SYNNEX Co. (NYSE:SNX) Stock

TD SYNNEX Co. (NYSE:SNX) insider Simon Leung sold 6,249 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

TD SYNNEX Price Performance

Shares of SNX opened at $125.79 on Friday. The firm has a market capitalization of $10.70 billion, a PE ratio of 16.27, a PEG ratio of 1.25 and a beta of 1.48. The company’s 50-day moving average is $118.08 and its 200-day moving average is $119.70. TD SYNNEX Co. has a fifty-two week low of $92.66 and a fifty-two week high of $133.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $2.71 EPS. Equities analysts forecast that TD SYNNEX Co. will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently modified their holdings of the company. ProShare Advisors LLC lifted its position in shares of TD SYNNEX by 3.2% during the 1st quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 86 shares during the period. CIBC Asset Management Inc raised its holdings in TD SYNNEX by 3.4% during the third quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock worth $313,000 after buying an additional 86 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in TD SYNNEX by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock worth $315,000 after buying an additional 90 shares during the last quarter. AlphaMark Advisors LLC raised its holdings in TD SYNNEX by 1.3% during the third quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock worth $929,000 after buying an additional 100 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in TD SYNNEX by 11.1% during the second quarter. Fifth Third Bancorp now owns 1,064 shares of the business services provider’s stock worth $123,000 after buying an additional 106 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

SNX has been the subject of several recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Barclays upped their target price on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Loop Capital reissued a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.