Brokerages Set TD SYNNEX Co. (NYSE:SNX) Price Target at $127.33

Shares of TD SYNNEX Co. (NYSE:SNX) have been given an average recommendation of “Moderate Buy” by the nine analysts that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $127.33.

A number of brokerages have issued reports on SNX. Bank of America cut their price objective on TD SYNNEX from $135.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Royal Bank of Canada raised shares of TD SYNNEX from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $135.00 to $140.00 in a report on Monday, July 15th. UBS Group increased their price target on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Barrington Research reissued an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Wednesday, June 26th. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th.

Insider Activity

In other news, 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 transaction of $1,260,111.74. Following the sale, the chief financial officer now owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.66, for a total value of $2,313,200.00. Following the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,580,095.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total value of $1,260,111.74. Following the completion of the sale, the chief financial officer now owns 45,115 shares in the company, valued at $4,968,966.10. The disclosure for this sale can be found here. Insiders have sold a total of 35,188 shares of company stock valued at $3,998,655 in the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors have recently bought and sold shares of SNX. Vanguard Group Inc. lifted its position in shares of TD SYNNEX by 23.4% in the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after purchasing an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of 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 buying an additional 1,006,569 shares during the last quarter. Ninety One UK Ltd grew its holdings in shares of TD SYNNEX by 131.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,371,737 shares of the business services provider’s stock valued at $158,298,000 after acquiring an additional 777,924 shares in the last quarter. Norges Bank acquired a new stake in shares of TD SYNNEX in the fourth quarter valued at about $79,506,000. Finally, Lind Value II ApS bought a new stake in TD SYNNEX during the first quarter worth about $77,858,000. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Stock Down 2.1 %

SNX opened at $110.97 on Thursday. The company has a market capitalization of $9.48 billion, a P/E ratio of 15.54, a P/E/G ratio of 1.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The firm’s fifty day moving average price is $115.71 and its two-hundred day moving average price is $116.73. TD SYNNEX has a fifty-two week low of $89.73 and a fifty-two week high of $133.85.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, June 25th. The business services provider reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.66 by ($0.05). TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business had revenue of $13.95 billion for the quarter, compared to analyst estimates of $14.12 billion. On average, analysts anticipate that TD SYNNEX will post 11.22 EPS for the current year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

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.