TD SYNNEX Co. (NYSE:SNX) Receives Average Rating of “Moderate Buy” from Analysts

TD SYNNEX Co. (NYSE:SNX) has earned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $132.57.

Several equities analysts have commented on the stock. Barclays raised their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Bank of America decreased their target price on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. JPMorgan Chase & Co. decreased their price objective on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, UBS Group upped their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th.

Insider Buying and Selling

In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other TD SYNNEX news, insider Dennis Polk sold 15,689 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the transaction, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the transaction, the chief financial officer now directly owns 45,115 shares in the company, valued at approximately $4,968,966.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,877 shares of company stock worth $3,519,970 over the last 90 days. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of TD SYNNEX by 23.4% in the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after acquiring an additional 1,261,474 shares during the period. Pacer Advisors Inc. grew its position in TD SYNNEX by 58.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock worth $313,469,000 after purchasing an additional 1,006,569 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in TD SYNNEX by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after purchasing an additional 177,460 shares during the period. AQR Capital Management LLC raised its holdings in shares of TD SYNNEX by 21.1% in the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after buying an additional 269,759 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of TD SYNNEX by 38.5% during the first quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after buying an additional 421,908 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Price Performance

SNX stock opened at $117.31 on Monday. The business’s fifty day moving average price is $116.24 and its 200 day moving average price is $118.24. TD SYNNEX has a 12-month low of $89.73 and a 12-month high of $133.85. The company has a market capitalization of $10.03 billion, a PE ratio of 16.43, a P/E/G ratio of 1.19 and a beta of 1.48. The company has a current ratio of 1.25, a quick ratio of 0.78 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion for the quarter, compared to analyst estimates of $14.11 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that TD SYNNEX will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

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.