TD SYNNEX (NYSE:SNX) Price Target Cut to $123.00

TD SYNNEX (NYSE:SNX) had its target price reduced by JPMorgan Chase & Co. from $126.00 to $123.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

A number of other research analysts also recently issued reports on SNX. Barclays boosted their price target on TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a report on Wednesday, March 27th. Royal Bank of Canada restated a sector perform rating and set a $135.00 price target on shares of TD SYNNEX in a report on Wednesday. Bank of America boosted their price target on TD SYNNEX from $120.00 to $140.00 and gave the company a buy rating in a report on Tuesday, April 2nd. UBS Group upgraded TD SYNNEX from a neutral rating to a buy rating and boosted their price target for the company from $115.00 to $145.00 in a report on Tuesday, April 16th. Finally, Barrington Research reaffirmed an outperform rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Wednesday. 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, the company currently has an average rating of Moderate Buy and a consensus target price of $126.10.

TD SYNNEX Stock Down 0.1 %

SNX opened at $115.40 on Wednesday. The company has a market cap of $10.28 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.13 and a beta of 1.55. The business’s 50-day moving average price is $124.72 and its 200-day moving average price is $112.69. 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 12 month low of $89.73 and a 12 month high of $133.85.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a $0.40 dividend. The ex-dividend date is Friday, July 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.39%. TD SYNNEX’s dividend payout ratio is currently 22.41%.

Insider Transactions at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now directly owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $5,833,100 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds have recently added to or reduced their stakes in SNX. Benjamin F. Edwards & Company Inc. raised its stake in TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after buying an additional 140 shares during the last quarter. Rise Advisors LLC purchased a new stake in TD SYNNEX during the 1st quarter valued at $32,000. Pineridge Advisors LLC purchased a new stake in TD SYNNEX during the 4th quarter valued at $33,000. Daiwa Securities Group Inc. purchased a new stake in TD SYNNEX during the 1st quarter valued at $68,000. Finally, Gladius Capital Management LP raised its stake in TD SYNNEX by 50.8% during the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after buying an additional 250 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.