TD SYNNEX (NYSE:SNX) Upgraded at UBS Group

UBS Group upgraded shares of TD SYNNEX (NYSE:SNX) from a neutral rating to a buy rating in a report released on Tuesday morning, MarketBeat reports. UBS Group currently has $145.00 price objective on the business services provider’s stock, up from their previous price objective of $115.00.

A number of other analysts have also issued reports on SNX. Royal Bank of Canada reissued a sector perform rating and issued a $118.00 price target (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Bank of America raised their price target on TD SYNNEX from $120.00 to $140.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. Barclays lifted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a research note on Wednesday, March 27th. Cfra lifted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the company a hold rating in a research note on Tuesday, March 26th. Finally, StockNews.com raised TD SYNNEX from a hold rating to a buy rating in a research note on Thursday, December 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX presently has a consensus rating of Moderate Buy and an average price target of $121.82.

TD SYNNEX Stock Down 1.0 %

SNX opened at $113.75 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38. The firm has a market cap of $10.14 billion, a P/E ratio of 16.51, a PEG ratio of 1.06 and a beta of 1.64. TD SYNNEX has a 52 week low of $86.30 and a 52 week high of $119.87. The business’s fifty day simple moving average is $107.31 and its 200 day simple moving average is $102.52.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The firm had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. As a group, equities research analysts anticipate that TD SYNNEX will post 11.33 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.60 annualized dividend and a dividend yield of 1.41%. TD SYNNEX’s payout ratio is currently 23.22%.

Insider Activity at TD SYNNEX

In related news, insider Michael Urban sold 5,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $105.00, for a total transaction of $525,000.00. Following the sale, the insider now directly owns 26,386 shares in the company, valued at approximately $2,770,530. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other TD SYNNEX news, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $105.00, for a total transaction of $525,000.00. Following the sale, the insider now directly owns 26,386 shares in the company, valued at approximately $2,770,530. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the sale, the chief executive officer now owns 229,363 shares in the company, valued at $24,213,851.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,355 shares of company stock worth $4,408,685. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Diversified Trust Co increased its holdings in TD SYNNEX by 15.9% during the 4th quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock worth $322,000 after purchasing an additional 409 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of TD SYNNEX by 9.0% in the 4th quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock worth $389,000 after acquiring an additional 297 shares in the last quarter. Schwartz Investment Counsel Inc. grew its position in shares of TD SYNNEX by 10.8% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 102,500 shares of the business services provider’s stock worth $11,030,000 after acquiring an additional 10,000 shares in the last quarter. Signaturefd LLC grew its position in shares of TD SYNNEX by 28.9% in the 3rd quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock worth $95,000 after acquiring an additional 214 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of TD SYNNEX by 4.0% in the 3rd quarter. Vanguard Group Inc. now owns 5,008,606 shares of the business services provider’s stock worth $500,159,000 after acquiring an additional 193,198 shares in the last quarter. 84.00% of the stock is currently owned by hedge funds and other 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.