Royal Bank of Canada decreased its position in shares of TD SYNNEX Corporation (NYSE:SNX – Free Report) by 11.9% in the 1st quarter, Holdings Channel reports. The firm owned 59,430 shares of the business services provider’s stock after selling 8,042 shares during the quarter. Royal Bank of Canada’s holdings in TD SYNNEX were worth $10,026,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Ossiam increased its position in shares of TD SYNNEX by 84.3% during the third quarter. Ossiam now owns 164 shares of the business services provider’s stock worth $27,000 after buying an additional 75 shares during the period. Measured Wealth Private Client Group LLC acquired a new position in TD SYNNEX in the third quarter valued at approximately $30,000. Aster Capital Management DIFC Ltd bought a new position in shares of TD SYNNEX during the 4th quarter worth approximately $28,000. SJS Investment Consulting Inc. grew its position in shares of TD SYNNEX by 44.6% during the 1st quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock worth $34,000 after buying an additional 62 shares during the period. Finally, Lloyd Advisory Services LLC. bought a new stake in shares of TD SYNNEX in the 4th quarter valued at $32,000. 84.00% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research analysts recently issued reports on SNX shares. Morgan Stanley increased their target price on shares of TD SYNNEX from $341.00 to $374.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Barclays boosted their target price on TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, July 2nd. Royal Bank Of Canada set a $340.00 price target on TD SYNNEX in a report on Friday, June 26th. JPMorgan Chase & Co. raised TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective for the company in a research note on Wednesday, May 27th. Finally, Barrington Research boosted their price objective on TD SYNNEX from $202.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $294.67.
TD SYNNEX Trading Up 0.1%
NYSE SNX opened at $252.56 on Monday. The firm has a market capitalization of $20.19 billion, a P/E ratio of 18.08, a PEG ratio of 0.71 and a beta of 1.44. The business has a fifty day simple moving average of $261.80 and a 200 day simple moving average of $213.26. TD SYNNEX Corporation has a 12 month low of $142.22 and a 12 month high of $296.47. 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 – Get Free Report) last posted its quarterly earnings data on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.14 by $0.71. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm had revenue of $19.57 billion for the quarter, compared to the consensus estimate of $16.80 billion. During the same period in the previous year, the firm earned $2.99 EPS. The business’s revenue for the quarter 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. On average, analysts predict that TD SYNNEX Corporation will post 18.01 EPS for the current fiscal year.
TD SYNNEX Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, July 17th. TD SYNNEX’s dividend payout ratio is presently 13.74%.
Insider Buying and Selling
In related news, Director Ann F. Vezina sold 1,273 shares of TD SYNNEX stock in a transaction 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 sale, the director directly owned 5,828 shares in the company, valued at approximately $1,492,259.40. This trade represents a 17.93% 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. Also, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction on Monday, July 6th. The stock was 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. This represents a 21.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 21,273 shares of company stock worth $5,401,452 in the last 90 days. Company insiders own 0.70% of the company’s stock.
TD SYNNEX 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.
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