TD SYNNEX Corporation (NYSE:SNX) Receives Consensus Rating of “Buy” from Analysts

TD SYNNEX Corporation (NYSE:SNX) has been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $294.6667.

Several brokerages have recently issued reports on SNX. Barclays upped their target price on shares of TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, July 2nd. Barrington Research boosted their price objective on TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Weiss Ratings downgraded TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, June 17th. Royal Bank Of Canada set a $340.00 price objective on TD SYNNEX in a research note on Friday, June 26th. Finally, JPMorgan Chase & Co. upgraded TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price for the company in a report on Wednesday, May 27th.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 5,000 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $242.97, for a total value of $1,214,850.00. Following the sale, the director owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This represents a 21.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,000 shares of company stock worth $4,933,700 in the last quarter. Insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in TD SYNNEX by 9.5% during the 1st 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 purchasing an additional 1,460 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in TD SYNNEX by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after purchasing an additional 9,815 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of TD SYNNEX by 6.6% during the first 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 valued at $21,226,000 after buying an additional 12,615 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of TD SYNNEX during the second quarter valued at approximately $818,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of TD SYNNEX by 17.4% during the second quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock valued at $116,000 after buying an additional 126 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Price Performance

SNX traded up $2.32 during trading hours on Friday, hitting $252.48. The company’s stock had a trading volume of 590,691 shares, compared to its average volume of 1,028,732. The business’s 50-day moving average price is $255.92 and its 200-day moving average price is $199.01. TD SYNNEX has a 12 month low of $139.23 and a 12 month high of $296.47. The stock has a market cap of $20.19 billion, a price-to-earnings ratio of 18.07, a P/E/G ratio of 0.71 and a beta of 1.43. The company has a current ratio of 1.20, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 EPS for the quarter, beating the consensus estimate of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The business had revenue of $19.57 billion during the quarter, compared to analyst estimates of $16.80 billion. During the same quarter last year, the business earned $2.99 earnings per share. TD SYNNEX’s quarterly revenue was up 31.0% compared to the same quarter last year. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Sell-side analysts expect that TD SYNNEX will post 18.02 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, July 17th. TD SYNNEX’s payout ratio is presently 13.74%.

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.