Short Interest in TD SYNNEX Co. (NYSE:SNX) Drops By 25.5%

TD SYNNEX Co. (NYSE:SNX) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 1,200,000 shares, a decline of 25.5% from the March 31st total of 1,610,000 shares. Based on an average trading volume of 1,040,000 shares, the short-interest ratio is currently 1.2 days.

TD SYNNEX Stock Up 0.0 %

Shares of TD SYNNEX stock opened at $117.43 on Friday. The stock’s fifty day moving average is $109.12 and its 200-day moving average is $103.28. The firm has a market capitalization of $10.46 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.64. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. TD SYNNEX has a 12-month low of $86.30 and a 12-month high of $119.87.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.12. The firm had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. Equities analysts anticipate that TD SYNNEX will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, April 11th. TD SYNNEX’s payout ratio is 23.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SNX shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 price objective (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. UBS Group raised TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $115.00 to $145.00 in a research note on Tuesday, April 16th. Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Bank of America boosted their price objective on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Finally, Barrington Research boosted their price objective on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $121.82.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in TD SYNNEX during the first quarter valued at $32,000. Pineridge Advisors LLC acquired a new position in TD SYNNEX during the fourth quarter valued at $33,000. Gladius Capital Management LP grew its stake in TD SYNNEX by 50.8% in the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 250 shares in the last quarter. Signaturefd LLC grew its stake in TD SYNNEX by 28.9% in the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 214 shares in the last quarter. Finally, CWM LLC grew its stake in TD SYNNEX by 193.1% in the third quarter. CWM LLC now owns 1,102 shares of the business services provider’s stock valued at $110,000 after purchasing an additional 726 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

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.