TD SYNNEX (NYSE:SNX) Price Target Raised to $166.00 at Barclays

TD SYNNEX (NYSE:SNX) had its price target boosted by Barclays from $163.00 to $166.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

A number of other brokerages have also weighed in on SNX. Morgan Stanley lifted their target price on TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. The Goldman Sachs Group initiated coverage on TD SYNNEX in a research report on Tuesday, January 13th. They set a “buy” rating and a $180.00 price target on the stock. Barrington Research restated an “outperform” rating and issued a $182.00 price objective on shares of TD SYNNEX in a report on Friday, March 27th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of TD SYNNEX in a research note on Monday, December 22nd. Finally, Zacks Research cut shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday, December 15th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and an average target price of $177.50.

TD SYNNEX Stock Performance

Shares of NYSE:SNX opened at $186.22 on Wednesday. The firm has a market cap of $15.01 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 1.21 and a beta of 1.22. The firm’s 50 day simple moving average is $159.91 and its 200-day simple moving average is $155.50. TD SYNNEX has a one year low of $92.23 and a one year high of $186.51. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same quarter in the previous year, the business earned $2.80 earnings per share. TD SYNNEX’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, equities analysts predict that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Dividend Announcement

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

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 25,000 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $160.67, for a total transaction of $4,016,750.00. Following the sale, the director owned 47,515 shares of the company’s stock, valued at $7,634,235.05. This trade represents a 34.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick Zammit sold 13,900 shares of TD SYNNEX stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $171.57, for a total value of $2,384,823.00. Following the completion of the transaction, the chief executive officer owned 170,928 shares in the company, valued at $29,326,116.96. This trade represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 80,915 shares of company stock valued at $13,111,786. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of TD SYNNEX

Several hedge funds have recently modified their holdings of SNX. Virtu Financial LLC raised its stake in shares of TD SYNNEX by 25.3% during the 4th quarter. Virtu Financial LLC now owns 2,008 shares of the business services provider’s stock worth $302,000 after acquiring an additional 405 shares in the last quarter. Invesco Ltd. boosted its stake in TD SYNNEX by 5.3% in the fourth quarter. Invesco Ltd. now owns 741,328 shares of the business services provider’s stock valued at $111,370,000 after acquiring an additional 37,305 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in TD SYNNEX by 230.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,490 shares of the business services provider’s stock valued at $975,000 after acquiring an additional 4,526 shares in the last quarter. Vident Advisory LLC grew its holdings in TD SYNNEX by 28.2% in the fourth quarter. Vident Advisory LLC now owns 34,926 shares of the business services provider’s stock worth $5,247,000 after purchasing an additional 7,687 shares during the last quarter. Finally, EP Wealth Advisors LLC purchased a new position in TD SYNNEX in the fourth quarter worth $760,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

More TD SYNNEX News

Here are the key news stories impacting TD SYNNEX this week:

• Positive Sentiment: Blowout Q1 results: SNX reported record fiscal Q1 results with revenue of $17.16B (up 18.1% YoY) and non-GAAP EPS of $4.73, materially beating estimates — the primary catalyst for the stock’s move higher today. Zacks: Q1 Earnings
• Positive Sentiment: Upbeat guidance and AI/cloud commentary: Management issued a positive Q2 outlook and tied demand to AI infrastructure, hyperscalers and cloud spending — signaling revenue momentum and supporting a re-rating. Quiver Quant: Earnings & Outlook
• Positive Sentiment: Dividend declared: SNX announced a quarterly cash dividend ($0.48 per share, record April 15, payable April 29), which supports yield-oriented investor demand. (Company press release disclosures)
• Neutral Sentiment: Partnerships/market positioning: New distribution partnerships (e.g., FatPipe) expand product reach and support long-term growth but are incremental versus the earnings beat. PR Newswire: FatPipe Partnership
• Neutral Sentiment: Analysts mixed — price-target moves: JPMorgan raised its target to $185 but kept a “neutral” rating (limited endorsement of further upside). That provides some support but not a bullish stamp. Benzinga: JPMorgan PT Raise
• Negative Sentiment: Barclays keeps cautious stance: Barclays raised its PT to $166 but maintains an “equal weight” view — the new target implies meaningful downside from current levels and is a restraint on sentiment. TickerReport / Benzinga: Barclays PT
• Negative Sentiment: Insider and institutional selling: Public filings show heavy insider sales and notable institutional position reductions by several large managers in recent quarters — a potential headwind if selling pressure persists. Quiver Quant: Insider & Institutional Activity

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.