TD SYNNEX (NYSE:SNX) Reaches New 12-Month High Following Analyst Upgrade

TD SYNNEX Co. (NYSE:SNX) shares reached a new 52-week high during trading on Tuesday after StockNews.com upgraded the stock from a hold rating to a buy rating. The company traded as high as $134.97 and last traded at $134.19, with a volume of 65583 shares changing hands. The stock had previously closed at $132.84.

Several other research analysts have also issued reports on SNX. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their target price for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Barclays increased their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday. Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider David R. Vetter sold 20,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the sale, the insider now directly owns 66,381 shares in the company, valued at approximately $8,174,156.34. This trade represents a 23.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following 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 disclosure for this sale can be found here. Insiders sold a total of 47,876 shares of company stock valued at $5,782,129 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC purchased a new stake in TD SYNNEX during the 3rd quarter valued at $30,000. UMB Bank n.a. boosted its stake in shares of TD SYNNEX by 99.3% in the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after buying an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of TD SYNNEX in the 3rd quarter worth $37,000. Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX in the 3rd quarter worth $55,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of TD SYNNEX in the 3rd quarter worth $58,000. 84.00% of the stock is currently owned by hedge funds and other institutional investors.

TD SYNNEX Trading Up 0.2 %

The stock has a market capitalization of $11.59 billion, a PE ratio of 17.63, a P/E/G ratio of 1.14 and a beta of 1.46. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average price of $120.83 and a 200-day moving average price of $118.16.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, January 24th. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.29%. TD SYNNEX’s payout ratio is 22.11%.

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.