UBS Group Issues Pessimistic Forecast for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its price target trimmed by UBS Group from $150.00 to $138.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other brokerages have also issued reports on SNX. Royal Bank of Canada boosted their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Barrington Research restated an “outperform” rating and issued a $156.00 price objective on shares of TD SYNNEX in a report on Friday. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Finally, Barclays lifted their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $104.45 on Friday. The company’s 50-day moving average price is $135.67 and its 200-day moving average price is $125.75. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX has a twelve month low of $98.00 and a twelve month high of $145.10. The company has a market cap of $8.81 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm had revenue of $14.53 billion for the quarter, compared to analysts’ expectations of $14.79 billion. During the same period in the prior year, the firm posted $2.99 earnings per share. TD SYNNEX’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s dividend payout ratio is currently 22.11%.

Insider Buying and Selling at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. This represents a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,172 shares of company stock worth $6,353,261. 1.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNX. Arizona State Retirement System increased its holdings in TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock worth $2,607,000 after buying an additional 78 shares during the period. Quadrant Capital Group LLC increased its stake in shares of TD SYNNEX by 9.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock worth $125,000 after acquiring an additional 90 shares during the period. Ellevest Inc. raised its holdings in shares of TD SYNNEX by 3.9% during the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock worth $280,000 after purchasing an additional 90 shares during the last quarter. Utah Retirement Systems lifted its position in TD SYNNEX by 2.5% during the fourth quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock valued at $481,000 after purchasing an additional 100 shares during the period. Finally, Amundi boosted its holdings in TD SYNNEX by 22.3% in the fourth quarter. Amundi now owns 560 shares of the business services provider’s stock valued at $66,000 after purchasing an additional 102 shares during 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.