Insider Selling: TD SYNNEX Co. (NYSE:SNX) CFO Sells 1,082 Shares of Stock

TD SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 1,082 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $100.37, for a total transaction of $108,600.34. Following the completion of the transaction, the chief financial officer now owns 50,893 shares in the company, valued at $5,108,130.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Marshall Witt also recently made the following trade(s):

• On Tuesday, August 15th, Marshall Witt sold 1,082 shares of TD SYNNEX stock. The shares were sold at an average price of $98.09, for a total value of $106,133.38.
• On Monday, July 17th, Marshall Witt sold 602 shares of TD SYNNEX stock. The stock was sold at an average price of $97.18, for a total value of $58,502.36.

TD SYNNEX Stock Performance

Shares of SNX stock opened at $100.81 on Tuesday. The business’s 50-day moving average price is $99.18 and its 200-day moving average price is $94.64. TD SYNNEX Co. has a 12 month low of $78.86 and a 12 month high of $111.57. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 1.15 and a beta of 1.61. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Tuesday, June 27th. The business services provider reported $2.43 EPS for the quarter, missing analysts’ consensus estimates of $2.55 by ($0.12). The firm had revenue of $14.06 billion for the quarter, compared to analyst estimates of $14.42 billion. TD SYNNEX had a net margin of 1.10% and a return on equity of 13.25%. The business’s revenue for the quarter was down 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.66 earnings per share. Equities research analysts forecast that TD SYNNEX Co. will post 10.46 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, July 13th. TD SYNNEX’s dividend payout ratio is currently 19.94%.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. lifted its stake in shares of TD SYNNEX by 3.1% in the second quarter. Crossmark Global Holdings Inc. now owns 3,801 shares of the business services provider’s stock worth $369,000 after acquiring an additional 114 shares during the period. Assetmark Inc. lifted its holdings in TD SYNNEX by 6.0% in the first quarter. Assetmark Inc. now owns 2,218 shares of the business services provider’s stock valued at $215,000 after buying an additional 126 shares during the period. Captrust Financial Advisors lifted its holdings in TD SYNNEX by 4.3% in the first quarter. Captrust Financial Advisors now owns 3,202 shares of the business services provider’s stock valued at $330,000 after buying an additional 133 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in TD SYNNEX by 0.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 18,687 shares of the business services provider’s stock valued at $1,702,000 after buying an additional 140 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in TD SYNNEX by 0.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 35,805 shares of the business services provider’s stock valued at $3,391,000 after buying an additional 141 shares during the period. 84.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SNX has been the topic of a number of analyst reports. Credit Suisse Group reduced their price objective on shares of TD SYNNEX from $106.00 to $90.00 in a research note on Wednesday, June 28th. Barrington Research reduced their price target on shares of TD SYNNEX from $120.00 to $115.00 in a research report on Wednesday, June 28th. Loop Capital reduced their price target on shares of TD SYNNEX from $150.00 to $120.00 in a research report on Wednesday, July 5th. Bank of America reduced their price target on shares of TD SYNNEX from $120.00 to $115.00 in a research report on Wednesday, June 28th. Finally, Royal Bank of Canada reduced their price objective on TD SYNNEX from $98.00 to $97.00 in a research note on Monday, July 10th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $108.27.

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.