FREMONT, CA—Dennis Polk, a senior executive at TD SYNNEX Corp (NYSE:SNX), recently executed a series of stock transactions involving the company’s common stock. According to an SEC Form 4 filing, Polk sold shares totaling approximately $3 million on January 16, 2025. The transaction comes as TD SYNNEX, currently valued at $11.8 billion, trades near its 52-week high of $138.31, with InvestingPro analysis suggesting the stock remains undervalued despite its strong performance.
The sales were conducted in multiple transactions with prices ranging from $135.96 to $137.30 per share. Specifically, Polk sold 356 shares at a weighted average price of $135.96, 17,969 shares at an average price of $136.55, and 3,675 shares at an average price of $137.30. The company maintains a healthy P/E ratio of 17.5x and has received a "GOOD" financial health score from InvestingPro.
In addition to the sales, Polk also exercised options to acquire 22,000 shares at a price of $90.52 per share, bringing the total value of the acquisition to approximately $1.99 million. Following these transactions, Polk retains direct ownership of 39,898 shares of TD SYNNEX common stock.
These transactions reflect Polk’s ongoing management of his holdings in the company, where he serves as an executive within the Hyve Solutions division.
In other recent news, TD SYNNEX, a global IT distributor, has been making significant strides in the financial sector. The company outperformed Q4 estimates, reporting an adjusted earnings per share of $3.09, surpassing the consensus estimate of $3.06. Additionally, TD SYNNEX reported revenue of $15.84 billion, exceeding analysts’ projections of $15.25 billion. This success was primarily attributed to a 10% YoY rise in Q4 revenue, driven by growth in both its Advanced Solutions and Endpoint Solutions portfolios.
Analysts from Loop Capital and Raymond (NSE:RYMD) James have maintained positive ratings on TD SYNNEX, with Raymond James analyst Adam Tindle raising the price target to $150. Looking forward, TD SYNNEX expects Q1 revenue to fall between $14.4 billion and $15.2 billion, compared to the $14.76 billion consensus. The company also forecasted Q1 adjusted EPS of $2.65 to $3.15, versus analyst estimates of $2.95. Amid these developments, TD SYNNEX continues to demonstrate strong financial health.
Furthermore, Hau Lee, a member of the Board of Directors at TD SYNNEX, is set to retire at the company’s 2025 Annual Meeting of Stockholders, marking the end of his tenure which began in 2012. The company has not provided further details on Lee’s successor or the transition plan following his retirement. These are among the recent developments at TD SYNNEX.
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