TD SYNNEX Corporation (NYSE:SNX) Short Interest Up 22.2% in February

TD SYNNEX Corporation (NYSE:SNX) saw a large increase in short interest in February. As of February 13th, there was short interest totaling 1,527,247 shares, an increase of 22.2% from the January 29th total of 1,249,793 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average daily trading volume, of 753,520 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily trading volume, of 753,520 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.9% of the company’s shares are sold short.

Insiders Place Their Bets

In other news, CEO Patrick Zammit sold 13,900 shares of TD SYNNEX stock in a transaction 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 transaction, the chief executive officer owned 170,928 shares in the company, valued at $29,326,116.96. The trade was a 7.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Merline Saintil sold 168 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $153.38, for a total transaction of $25,767.84. Following the completion of the sale, the director directly owned 7,162 shares of the company’s stock, valued at $1,098,507.56. This represents a 2.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 80,916 shares of company stock valued at $13,111,209 in the last three months. 0.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently added to or reduced their stakes in the stock. Dorato Capital Management purchased a new stake in shares of TD SYNNEX during the 4th quarter worth approximately $27,000. Ossiam raised its stake in TD SYNNEX by 84.3% during the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in TD SYNNEX during the 4th quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new stake in TD SYNNEX in the third quarter valued at $30,000. Finally, Lloyd Advisory Services LLC. acquired a new position in TD SYNNEX in the fourth quarter valued at $32,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SNX has been the topic of a number of recent analyst reports. UBS Group upped their price objective on TD SYNNEX from $187.00 to $193.00 and gave the company a “buy” rating in a report on Friday, January 9th. Barrington Research reaffirmed an “outperform” rating and issued a $182.00 price target on shares of TD SYNNEX in a research note on Friday, January 9th. Wall Street Zen upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Barclays reduced their price objective on shares of TD SYNNEX from $164.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, January 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of TD SYNNEX in a research report on Wednesday, January 21st. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $170.64.

TD SYNNEX Stock Up 2.4%

NYSE:SNX traded up $3.80 during mid-day trading on Wednesday, hitting $159.97. The stock had a trading volume of 619,633 shares, compared to its average volume of 561,780. TD SYNNEX has a twelve month low of $92.23 and a twelve month high of $175.56. The stock has a 50-day simple moving average of $156.89 and a two-hundred day simple moving average of $154.10. The company has a current ratio of 1.21, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $12.90 billion, a PE ratio of 16.05, a PEG ratio of 1.12 and a beta of 1.37.

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

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were given a dividend of $0.48 per share. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, January 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.2%. TD SYNNEX’s dividend 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.