TD SYNNEX (NYSE:SNX) Shares Gap Down to $105.28

TD SYNNEX Co. (NYSE:SNXGet Free Report) gapped down prior to trading on Monday . The stock had previously closed at $105.28, but opened at $101.49. TD SYNNEX shares last traded at $101.29, with a volume of 1,310,104 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have commented on SNX shares. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Royal Bank of Canada boosted their target price on TD SYNNEX from $97.00 to $110.00 and gave the company a “sector perform” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. downgraded TD SYNNEX from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $112.00 to $113.00 in a research note on Monday, January 8th. Finally, UBS Group began coverage on TD SYNNEX in a research note on Wednesday, November 22nd. They issued a “neutral” rating and a $105.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and an average price target of $111.00.

Read Our Latest Analysis on SNX

TD SYNNEX Stock Performance

The firm has a 50 day moving average price of $103.60 and a 200-day moving average price of $99.79. The company has a market cap of $9.06 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.97 and a beta of 1.67. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.20.

TD SYNNEX (NYSE:SNXGet Free Report) last announced its earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.57. TD SYNNEX had a return on equity of 12.34% and a net margin of 1.09%. The firm had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $14.54 billion. During the same quarter in the prior year, the company earned $3.30 EPS. The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, research analysts predict that TD SYNNEX Co. will post 11.17 EPS for the current year.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 19th were paid a dividend of $0.40 per share. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $1.60 annualized dividend and a yield of 1.57%. TD SYNNEX’s dividend payout ratio is presently 23.85%.

Insider Activity at TD SYNNEX

In related news, insider Michael Urban sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $92.75, for a total transaction of $139,125.00. Following the completion of the sale, the insider now owns 45,156 shares in the company, valued at approximately $4,188,219. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other TD SYNNEX news, Director Fred A. Breidenbach sold 3,849 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $103.61, for a total value of $398,794.89. Following the completion of the transaction, the director now owns 18,148 shares of the company’s stock, valued at approximately $1,880,314.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michael Urban sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $92.75, for a total value of $139,125.00. Following the completion of the transaction, the insider now directly owns 45,156 shares of the company’s stock, valued at approximately $4,188,219. The disclosure for this sale can be found here. Insiders sold a total of 2,283,655 shares of company stock worth $231,857,002 in the last 90 days. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Several large investors have recently added to or reduced their stakes in SNX. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of TD SYNNEX by 34.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,096 shares of the business services provider’s stock worth $1,194,000 after buying an additional 2,847 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of TD SYNNEX by 9.9% in the 4th quarter. Mackenzie Financial Corp now owns 7,002 shares of the business services provider’s stock worth $753,000 after buying an additional 628 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of TD SYNNEX in the 4th quarter worth approximately $467,000. Louisiana State Employees Retirement System acquired a new position in shares of TD SYNNEX in the 4th quarter worth approximately $1,550,000. Finally, Sapient Capital LLC acquired a new position in shares of TD SYNNEX in the 4th quarter worth approximately $298,000. Institutional investors and hedge funds own 84.00% of the company’s stock.

About TD SYNNEX

(Get Free Report)

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.

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