Brokerages Set TD SYNNEX Co. (NYSE:SNX) Price Target at $134.75

TD SYNNEX Co. (NYSE:SNX) has received an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $134.75.

Several research analysts recently commented on SNX shares. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Friday, September 27th. StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Loop Capital restated a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Barrington Research reiterated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, Barclays increased their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, September 27th.

Insider Activity

In other news, insider Simon Leung sold 6,249 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the sale, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann F. Vezina sold 1,937 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.11, for a total value of $234,590.07. Following the completion of the transaction, the director now owns 5,695 shares in the company, valued at $689,721.45. This trade represents a 25.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,645 shares of company stock valued at $8,414,329. Insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Hedge funds have recently made changes to their positions in the company. Hancock Whitney Corp lifted its position in TD SYNNEX by 57.9% in the second quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock valued at $1,954,000 after purchasing an additional 6,207 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of TD SYNNEX by 20.3% in the 2nd quarter. Wedge Capital Management L L P NC now owns 31,146 shares of the business services provider’s stock valued at $3,594,000 after buying an additional 5,252 shares during the period. Friedenthal Financial purchased a new stake in shares of TD SYNNEX in the second quarter valued at approximately $967,000. ClariVest Asset Management LLC grew its holdings in TD SYNNEX by 45,552.8% during the second quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock worth $1,897,000 after acquiring an additional 16,399 shares during the period. Finally, Tidal Investments LLC raised its position in TD SYNNEX by 55.7% in the first quarter. Tidal Investments LLC now owns 17,508 shares of the business services provider’s stock worth $1,980,000 after acquiring an additional 6,265 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Stock Up 0.5 %

Shares of NYSE:SNX opened at $116.55 on Tuesday. The firm has a market capitalization of $9.92 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.15 and a beta of 1.48. TD SYNNEX has a 1 year low of $96.93 and a 1 year high of $133.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The firm’s 50-day moving average is $118.78 and its two-hundred day moving average is $119.68.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The firm had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the prior year, the firm earned $2.71 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that TD SYNNEX will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

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.