TD SYNNEX Co. (NYSE:SNX) Insider Dennis Polk Sells 8,000 Shares

TD SYNNEX Co. (NYSE:SNXGet Rating) insider Dennis Polk sold 8,000 shares of TD SYNNEX stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $97.13, for a total transaction of $777,040.00. Following the transaction, the insider now directly owns 132,402 shares of the company’s stock, valued at approximately $12,860,206.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dennis Polk also recently made the following trade(s):

  • On Friday, February 3rd, Dennis Polk sold 8,000 shares of TD SYNNEX stock. The stock was sold at an average price of $104.92, for a total transaction of $839,360.00.

TD SYNNEX Stock Up 0.3 %

Shares of NYSE SNX opened at $96.96 on Friday. The stock has a market capitalization of $9.25 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.89 and a beta of 1.65. The company has a 50-day moving average price of $101.71 and a 200-day moving average price of $96.67. TD SYNNEX Co. has a 1 year low of $78.86 and a 1 year high of $115.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.25 and a quick ratio of 0.70.

TD SYNNEX (NYSE:SNXGet Rating) last released its quarterly earnings results on Tuesday, January 10th. The business services provider reported $3.30 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.45. TD SYNNEX had a net margin of 1.04% and a return on equity of 14.08%. The business had revenue of $16.25 billion for the quarter, compared to analysts’ expectations of $15.78 billion. On average, equities research analysts forecast that TD SYNNEX Co. will post 11.67 EPS for the current fiscal year.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 27th. Investors of record on Friday, January 20th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, January 19th. This is a boost from TD SYNNEX’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 1.44%. TD SYNNEX’s payout ratio is 20.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, February 15th. Barrington Research lifted their price target on shares of TD SYNNEX from $98.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, January 11th. Credit Suisse Group lifted their price target on shares of TD SYNNEX from $103.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, January 11th. Barclays started coverage on shares of TD SYNNEX in a research note on Wednesday, February 15th. They issued an “equal weight” rating and a $109.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $122.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. American Century Companies Inc. boosted its holdings in TD SYNNEX by 31.5% during the first quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock worth $2,085,000 after purchasing an additional 4,841 shares during the last quarter. US Bancorp DE boosted its stake in TD SYNNEX by 11.6% in the first quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock valued at $745,000 after acquiring an additional 747 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in TD SYNNEX by 7.6% in the first quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock valued at $992,000 after acquiring an additional 677 shares during the last quarter. Bank of Montreal Can boosted its stake in TD SYNNEX by 202.3% in the first quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock valued at $5,569,000 after acquiring an additional 35,593 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in TD SYNNEX in the first quarter valued at about $1,065,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.

About TD SYNNEX

(Get Rating)

TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.

Further Reading

Insider Buying and Selling by Quarter for TD SYNNEX (NYSE:SNX)

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