TD SYNNEX (NYSE:SNX) PT Lowered to $132.00 at Bank of America

TD SYNNEX (NYSE:SNX) had its target price lowered by Bank of America from $135.00 to $132.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

Other equities research analysts also recently issued reports about the company. Barrington Research reaffirmed an outperform rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Wednesday, June 26th. Cfra lifted their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a research report on Tuesday, March 26th. Royal Bank of Canada reiterated a sector perform rating and set a $135.00 price target on shares of TD SYNNEX in a report on Wednesday, June 26th. Barclays boosted their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an equal weight rating in a research report on Wednesday, March 27th. Finally, UBS Group upped their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX currently has an average rating of Moderate Buy and a consensus target price of $126.10.

TD SYNNEX Price Performance

NYSE SNX opened at $115.40 on Thursday. TD SYNNEX has a 1 year low of $89.73 and a 1 year high of $133.85. The company has a fifty day simple moving average of $124.72 and a 200 day simple moving average of $112.75. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.28 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.13 and a beta of 1.55.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $1.60 annualized dividend and a yield of 1.39%. TD SYNNEX’s dividend payout ratio is 22.41%.

Insider Activity

In other news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now directly owns 219,363 shares in the company, valued at $25,400,041.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,000 shares of company stock worth $5,833,100. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several large investors have recently bought and sold shares of SNX. Invesco Ltd. increased its stake in TD SYNNEX by 22.0% in the third quarter. Invesco Ltd. now owns 345,202 shares of the business services provider’s stock valued at $34,472,000 after purchasing an additional 62,296 shares in the last quarter. Northern Trust Corp increased its stake in TD SYNNEX by 7.0% in the third quarter. Northern Trust Corp now owns 321,245 shares of the business services provider’s stock valued at $32,080,000 after purchasing an additional 21,123 shares in the last quarter. Natixis Advisors L.P. increased its stake in TD SYNNEX by 49.6% in the third quarter. Natixis Advisors L.P. now owns 61,567 shares of the business services provider’s stock valued at $6,148,000 after purchasing an additional 20,400 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in TD SYNNEX by 193.1% in the third quarter. Tower Research Capital LLC TRC now owns 5,879 shares of the business services provider’s stock valued at $587,000 after purchasing an additional 3,873 shares in the last quarter. Finally, Teza Capital Management LLC bought a new stake in TD SYNNEX in the third quarter valued at approximately $218,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

About TD SYNNEX

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.