TD SYNNEX (NYSE:SNX – Get Free Report) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.
Other equities research analysts have also issued reports about the stock. The Goldman Sachs Group set a $330.00 price objective on shares of TD SYNNEX in a research report on Friday, June 26th. Barrington Research lifted their target price on shares of TD SYNNEX from $202.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 26th. Barclays upped their price target on shares of TD SYNNEX from $237.00 to $278.00 and gave the company an “equal weight” rating in a report on Thursday, July 2nd. Royal Bank Of Canada set a $340.00 price objective on shares of TD SYNNEX in a research note on Friday, June 26th. Finally, Weiss Ratings lowered TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $294.67.
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TD SYNNEX Stock Up 1.7%
TD SYNNEX (NYSE:SNX – Get Free Report) last issued its earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $0.71. The company had revenue of $19.57 billion during the quarter, compared to analysts’ expectations of $16.80 billion. TD SYNNEX had a net margin of 1.63% and a return on equity of 15.37%. The firm’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period last year, the company posted $2.99 earnings per share. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. Equities research analysts anticipate that TD SYNNEX will post 18.01 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Richard T. Hume sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the sale, the director owned 18,537 shares of the company’s stock, valued at $4,503,934.89. The trade was a 21.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ann F. Vezina sold 1,273 shares of the company’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 value of $325,951.65. Following the completion of the sale, the director owned 5,828 shares of the company’s stock, valued at $1,492,259.40. This trade represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,273 shares of company stock valued at $4,253,752 over the last three months. Corporate insiders own 0.70% of the company’s stock.
Hedge Funds Weigh In On TD SYNNEX
Several large investors have recently made changes to their positions in the business. Weiss Asset Management LP purchased a new stake in TD SYNNEX in the 1st quarter worth approximately $4,435,000. Intech Investment Management LLC grew its holdings in shares of TD SYNNEX by 38.4% during the 4th quarter. Intech Investment Management LLC now owns 21,578 shares of the business services provider’s stock valued at $3,242,000 after acquiring an additional 5,982 shares in the last quarter. State of Wyoming purchased a new position in shares of TD SYNNEX during the 2nd quarter valued at $3,378,000. BlackRock Inc. acquired a new position in shares of TD SYNNEX in the second quarter worth $1,958,683,000. Finally, Geode Capital Management LLC increased its stake in shares of 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 acquiring an additional 99,090 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.
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.
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