Analysts Set TD SYNNEX Co. (NYSE:SNX) PT at $132.57

TD SYNNEX Co. (NYSE:SNX) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, 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 target price among brokerages that have covered the stock in the last year is $132.57.

Several equities research analysts have recently commented on SNX shares. Barclays boosted their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th. JPMorgan Chase & Co. decreased 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. UBS Group raised their price objective 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. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, August 16th.

TD SYNNEX Stock Up 0.1 %

Shares of NYSE SNX opened at $116.62 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market cap of $9.97 billion, a PE ratio of 16.33, a P/E/G ratio of 1.19 and a beta of 1.49. The company’s fifty day simple moving average is $116.25 and its 200 day simple moving average is $118.26. TD SYNNEX has a 12-month low of $89.73 and a 12-month high of $133.85.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data 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 analysts’ expectations of $14.11 billion. During the same quarter in the prior year, the firm earned $2.71 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts forecast that TD SYNNEX will post 11.22 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s payout ratio is 22.41%.

Insider Buying and Selling at TD SYNNEX

In other news, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction that occurred on 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 owns 45,115 shares in the company, valued at approximately $4,968,966.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Patrick Zammit sold 3,513 shares of TD SYNNEX stock in a transaction on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the sale, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,188 shares of company stock worth $1,685,455. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several large investors have recently modified their holdings of the stock. 9258 Wealth Management LLC bought a new position in TD SYNNEX during the fourth quarter valued at $207,000. Hsbc Holdings PLC increased its holdings in TD SYNNEX by 786.6% in the 4th quarter. Hsbc Holdings PLC now owns 28,060 shares of the business services provider’s stock worth $3,021,000 after acquiring an additional 24,895 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in TD SYNNEX by 33.1% in the 4th 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 acquiring an additional 6,041 shares during the period. TFO Wealth Partners LLC lifted its holdings in TD SYNNEX by 66,800.0% during 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 during the last quarter. Finally, Eagle Asset Management Inc. bought a new position in TD SYNNEX during the fourth quarter worth about $2,584,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

About TD SYNNEX

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.