Analysts Set TD SYNNEX Co. (NYSE:SNX) Target Price at $123.36

TD SYNNEX Co. (NYSE:SNX) has been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $126.10.

SNX has been the topic of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $135.00 price objective on shares of TD SYNNEX in a research report on Wednesday. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays boosted their price target on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. Finally, UBS Group lifted their price objective on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday.

Insider Transactions at TD SYNNEX

In related news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $115.66, for a total transaction of $2,313,200.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,580,095.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the sale, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,000 shares of company stock worth $5,833,100. 1.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its position in shares of TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 140 shares during the period. Rise Advisors LLC bought a new position in shares of TD SYNNEX in the first quarter valued at $32,000. Pineridge Advisors LLC acquired a new stake in TD SYNNEX during the 4th quarter valued at $33,000. Daiwa Securities Group Inc. acquired a new stake in shares of TD SYNNEX during the first quarter worth $68,000. Finally, Gladius Capital Management LP lifted its holdings in shares of TD SYNNEX by 50.8% during the third quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock worth $74,000 after buying an additional 250 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Price Performance

SNX opened at $115.35 on Friday. The firm has a market cap of $10.28 billion, a price-to-earnings ratio of 16.16, a PEG ratio of 1.12 and a beta of 1.55. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.47. TD SYNNEX has a twelve month low of $89.73 and a twelve month high of $133.85. The company has a fifty day simple moving average of $124.72 and a 200 day simple moving average of $112.61.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. Equities research analysts expect that TD SYNNEX will post 11.38 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Friday, July 12th. TD SYNNEX’s payout ratio is 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.