TD SYNNEX (NYSE:SNX) Shares Up 6.3% – Time to Buy?

Shares of TD SYNNEX Corporation (NYSE:SNX) shot up 6.3% during mid-day trading on Thursday. The stock traded as high as $272.62 and last traded at $273.1150. Approximately 321,821 shares were traded during trading, a decline of 61% from the average session volume of 820,835 shares. The stock had previously closed at $256.85.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SNX shares. Weiss Ratings reiterated a “buy (b)” rating on shares of TD SYNNEX in a research report on Monday, September 14th. Barrington Research upped their price objective on shares of TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, June 26th. Barclays increased their price objective on shares of TD SYNNEX from $278.00 to $287.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 8th. Morgan Stanley boosted their target price on shares of TD SYNNEX from $334.00 to $359.00 and gave the company an “overweight” rating in a report on Friday, September 25th. Finally, Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, TD SYNNEX currently has an average rating of “Buy” and a consensus target price of $331.14.

TD SYNNEX Trading Up 8.1%

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.19 and a quick ratio of 0.64. The business’s 50-day simple moving average is $258.00 and its two-hundred day simple moving average is $240.13. The stock has a market capitalization of $22.20 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 0.59 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, September 24th. The business services provider reported $5.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.98. TD SYNNEX had a net margin of 1.75% and a return on equity of 16.78%. The firm had revenue of $21.56 billion during the quarter, compared to analysts’ expectations of $18.91 billion. During the same period in the prior year, the company earned $3.58 EPS. The firm’s revenue was up 37.7% on a year-over-year basis. TD SYNNEX has set its Q4 2026 guidance at 5.650-6.150 EPS. On average, research analysts anticipate that TD SYNNEX Corporation will post 19.89 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, October 16th. TD SYNNEX’s dividend payout ratio (DPR) is presently 11.70%.

Insider Buying and Selling

In other TD SYNNEX news, Director Ann F. Vezina sold 1,273 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $256.05, for a total transaction of $325,951.65. Following the completion of the sale, the director owned 5,828 shares in the company, valued at $1,492,259.40. This trade represents a 17.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 18,537 shares in the company, valued at approximately $4,503,934.89. The trade was a 21.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 11,273 shares of company stock valued at $2,851,852. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of TD SYNNEX in the 2nd quarter worth about $1,958,683,000. Geode Capital Management LLC grew its stake in TD SYNNEX by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 1,532,784 shares of the business services provider’s stock worth $230,315,000 after purchasing an additional 99,090 shares in the last quarter. Metropolis Capital Ltd increased its holdings in TD SYNNEX by 9.5% in the first quarter. Metropolis Capital Ltd now owns 1,281,307 shares of the business services provider’s stock valued at $216,169,000 after buying an additional 111,222 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in TD SYNNEX during the second quarter valued at approximately $149,728,000. Finally, Norges Bank bought a new position in TD SYNNEX during the 4th quarter worth approximately $148,559,000. 84.00% of the stock is currently owned by institutional investors.

About TD SYNNEX

TD SYNNEX Corporation is a global technology distributor and solutions aggregator that connects technology vendors with resellers, systems integrators, managed service providers and other channel partners. The company helps bring hardware, software and cloud-based solutions to market while supporting partners with sales, marketing, logistics, financing and technical services.

Its portfolio includes data center and networking equipment, personal computing and endpoint devices, software, cybersecurity products, cloud services, unified communications, mobility solutions and emerging technologies.