Barclays Boosts TD SYNNEX (NYSE:SNX) Price Target to $132.00

TD SYNNEX (NYSE:SNX) had its price target raised by Barclays from $131.00 to $132.00 in a report issued on Friday morning, Benzinga reports. They currently have an equal weight rating on the business services provider’s stock.

Several other equities research analysts have also issued reports on SNX. Royal Bank of Canada reissued an outperform rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Friday. 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. JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a neutral rating for the company in a research note on Wednesday, June 26th. Bank of America lowered their price objective on TD SYNNEX from $135.00 to $132.00 and set a buy rating on the stock in a research note on Thursday, June 27th. Finally, StockNews.com raised TD SYNNEX from a hold rating to a buy rating in a report on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $132.57.

TD SYNNEX Trading Up 0.4 %

Shares of SNX stock opened at $120.11 on Friday. The firm has a market capitalization of $10.26 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49. TD SYNNEX has a 1 year low of $89.73 and a 1 year high of $133.85. The firm’s fifty day simple moving average is $116.27 and its 200 day simple moving average is $118.18. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. The company had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.71 EPS. As a group, sell-side analysts predict that TD SYNNEX will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, October 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.33%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insiders Place Their Bets

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares of the company’s stock, valued at approximately $15,882,422.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the transaction, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the transaction, the chief financial officer now owns 45,115 shares in the company, valued at $4,968,966.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,188 shares of company stock valued at $1,685,455. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TD SYNNEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. 9258 Wealth Management LLC bought a new stake in TD SYNNEX in the fourth quarter valued at about $207,000. Commerce Bank bought a new stake in shares of TD SYNNEX in the 4th quarter valued at about $588,000. Hsbc Holdings PLC raised its position in shares of TD SYNNEX by 786.6% in the 4th quarter. Hsbc Holdings PLC now owns 28,060 shares of the business services provider’s stock valued at $3,021,000 after acquiring an additional 24,895 shares during the period. Treasurer of the State of North Carolina grew its holdings in TD SYNNEX by 33.1% during the fourth quarter. Treasurer of the State of North Carolina now owns 24,294 shares of the business services provider’s stock valued at $2,614,000 after purchasing an additional 6,041 shares during the period. Finally, TFO Wealth Partners LLC increased its stake in TD SYNNEX by 66,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 2,007 shares of the business services provider’s stock valued at $216,000 after purchasing an additional 2,004 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

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.