Insider Selling: TD SYNNEX Co. (NYSE:SNX) Insider Sells 15,689 Shares of Stock

TD SYNNEX Co. (NYSE:SNX) insider Dennis Polk sold 15,689 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

TD SYNNEX Trading Up 1.7 %

NYSE SNX traded up $1.96 during mid-day trading on Friday, reaching $117.31. 430,198 shares of the stock were exchanged, compared to its average volume of 817,141. The stock has a market capitalization of $10.03 billion, a PE ratio of 16.30, a PEG ratio of 1.19 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.78 and a current ratio of 1.25. TD SYNNEX Co. has a 1-year low of $89.73 and a 1-year high of $133.85. The business’s fifty day simple moving average is $116.24 and its 200 day simple moving average is $118.24.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The business had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same quarter last year, the firm earned $2.71 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. On average, research analysts anticipate that TD SYNNEX Co. will post 11.22 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 25th. Investors of record on Friday, October 11th will be given a $0.40 dividend. The ex-dividend date is Friday, October 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. TD SYNNEX’s dividend payout ratio is presently 22.41%.

Analysts Set New Price Targets

SNX has been the topic of a number of research analyst reports. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. UBS Group raised their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Bank of America dropped their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its holdings in TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Rise Advisors LLC acquired a new stake in shares of TD SYNNEX during the first quarter valued at about $32,000. Pineridge Advisors LLC purchased a new position in TD SYNNEX in the fourth quarter valued at about $33,000. Blue Trust Inc. grew its stake in TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of TD SYNNEX in the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.