TD SYNNEX Director Sells 25,000 Shares Amid Market Activity

Richard Hume, a director at TD SYNNEX Corporation, sold 25,000 shares of the company’s stock on January 29, 2024. The shares were sold at an average price of $160.67, resulting in a total transaction value of $4,016,750.00. Following this sale, Hume retains 47,515 shares in the company, with a total value of approximately $7,634,235.05, reflecting a significant 34.48% decrease in his stake. This transaction was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).

The performance of TD SYNNEX stock on the following trading day indicates some volatility. Shares of SNX fell by $3.11, closing at $158.65. The trading volume reached 587,789 shares, which is below the average volume of 971,684 shares. Currently, the company holds a debt-to-equity ratio of 0.43, a quick ratio of 0.75, and a current ratio of 1.21. The stock has fluctuated between a one-year low of $92.23 and a high of $167.76, with a market capitalization of $12.92 billion.

The company recently reported its quarterly earnings on January 8, 2024. TD SYNNEX recorded earnings per share of $3.83, surpassing analysts’ estimates of $3.68 by $0.15. The firm experienced a net margin of 1.32% and a return on equity of 12.60%. Revenue for the quarter reached $17.38 billion, significantly above the consensus estimate of $15.46 billion. This marked a 9.7% increase compared to the same quarter the previous year. The company has set guidance for Q1 2026 at earnings per share between $3.000 and $3.500.

Market Analysts Weigh In

Analysts have recently adjusted their ratings for TD SYNNEX. Wall Street Zen downgraded the stock from a “buy” to a “hold” rating on January 25, 2024. Barclays lowered its target price from $164.00 to $163.00 while maintaining an “equal weight” rating. In contrast, Royal Bank of Canada reaffirmed an “outperform” rating, and UBS Group increased its price target from $187.00 to $193.00, maintaining a “buy” rating. Barrington Research also reiterated an “outperform” rating and set a target price of $182.00. Currently, nine investment analysts rate the stock as a buy, while three rate it as hold. According to MarketBeat, the average rating for TD SYNNEX is “Moderate Buy” with a consensus price target of $170.64.

Institutional Investors Adjust Positions

Recent changes among institutional investors reflect a growing interest in TD SYNNEX. Dorato Capital Management acquired a new position worth approximately $27,000 in the fourth quarter. Additionally, Ossiam increased its holdings by 84.3% during the third quarter, now owning 164 shares valued at $27,000. Measured Wealth Private Client Group LLC also purchased a new stake valued at approximately $30,000. Notably, Brown Brothers Harriman & Co. boosted its holdings by 675.9%, now owning 225 shares worth $37,000. Overall, 84.00% of TD SYNNEX stock is held by hedge funds and other institutional investors.

As a leading global distributor and solutions aggregator in the information technology sector, TD SYNNEX was formed in September 2021 through the merger of Tech Data and SYNNEX Corporation. The company provides a wide array of products and services, including hardware, software, cloud solutions, security, and data center technologies. It partners with vendors and resellers to support IT infrastructures across various market segments, including commercial enterprises and public sector organizations.