Short Interest in TD SYNNEX Corporation (NYSE:SNX) Decreases By 15.6%

TD SYNNEX Corporation (NYSE:SNX) was the recipient of a significant decline in short interest in March. As of March 13th, there was short interest totaling 1,219,234 shares, a decline of 15.6% from the February 26th total of 1,444,651 shares. Based on an average daily volume of 511,251 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.5% of the shares of the stock are sold short.

Insider Activity at TD SYNNEX

In related news, Director Merline Saintil sold 167 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $157.75, for a total value of $26,344.25. Following the completion of the transaction, the director directly owned 6,995 shares of the company’s stock, valued at approximately $1,103,461.25. This represents a 2.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 25,000 shares of TD SYNNEX stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $160.67, for a total transaction of $4,016,750.00. Following the sale, the director directly owned 47,515 shares in the company, valued at approximately $7,634,235.05. This trade represents a 34.48% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 80,915 shares of company stock valued at $13,111,786. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in TD SYNNEX by 9.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock worth $1,749,000 after acquiring an additional 1,460 shares during the period. Goldman Sachs Group Inc. raised its position in TD SYNNEX by 5.8% in the first quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock valued at $18,631,000 after purchasing an additional 9,815 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in TD SYNNEX by 6.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock valued at $21,226,000 after purchasing an additional 12,615 shares during the period. MAI Capital Management lifted its stake in shares of TD SYNNEX by 90.2% in the 2nd quarter. MAI Capital Management now owns 428 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 203 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of TD SYNNEX by 706.8% during the 2nd quarter. American Century Companies Inc. now owns 239,720 shares of the business services provider’s stock worth $32,530,000 after purchasing an additional 210,009 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Trading Up 0.1%

Shares of SNX stock opened at $157.31 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.75 and a debt-to-equity ratio of 0.43. TD SYNNEX has a twelve month low of $92.23 and a twelve month high of $175.56. The company’s 50-day moving average price is $158.54 and its 200-day moving average price is $155.12. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.13 and a beta of 1.37.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, January 8th. The business services provider reported $3.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.68 by $0.15. TD SYNNEX had a net margin of 1.32% and a return on equity of 12.60%. The firm had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $15.46 billion. During the same period last year, the business earned $3.09 earnings per share. TD SYNNEX’s revenue was up 9.7% compared to the same quarter last year. TD SYNNEX has set its Q1 2026 guidance at 3.000-3.500 EPS. As a group, equities analysts predict that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, January 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.44. TD SYNNEX’s payout ratio is 19.26%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SNX shares. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. UBS Group increased their price objective on shares of TD SYNNEX from $187.00 to $193.00 and gave the company a “buy” rating in a report on Friday, January 9th. Zacks Research lowered shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 15th. Royal Bank Of Canada restated an “outperform” rating on shares of TD SYNNEX in a report on Monday, December 22nd. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $182.00 price target on shares of TD SYNNEX in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.70.

About TD SYNNEX

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.