Barrington Research Issues Positive Forecast for TD SYNNEX (NYSE:SNX) Stock Price

TD SYNNEX (NYSE:SNX) had its price target hoisted by Barrington Research from $138.00 to $156.00 in a research note released on Thursday, MarketBeat.com reports. The firm currently has an outperform rating on the business services provider’s stock.

Several other analysts have also weighed in on the company. JPMorgan Chase & Co. increased their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Barclays increased their price target on TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Royal Bank of Canada increased their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Finally, StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $149.75.

TD SYNNEX Stock Performance

NYSE:SNX opened at $127.77 on Thursday. The stock’s fifty day moving average is $137.36 and its 200 day moving average is $125.40. TD SYNNEX has a fifty-two week low of $104.93 and a fifty-two week high of $145.10. The firm has a market capitalization of $10.78 billion, a PE ratio of 16.05, a PEG ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

TD SYNNEX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were paid a $0.44 dividend. This is a positive change from TD SYNNEX’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.76 dividend on an annualized basis and a yield of 1.38%. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.11%.

Insiders Place Their Bets

In other news, Director Ann F. Vezina sold 839 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total transaction of $114,171.12. Following the transaction, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total value of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock worth $6,353,261 over the last quarter. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of TD SYNNEX by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock worth $901,323,000 after buying an additional 29,659 shares in the last quarter. FMR LLC boosted its position in TD SYNNEX by 3.2% during the fourth quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after purchasing an additional 237,587 shares in the last quarter. Brave Warrior Advisors LLC boosted its position in TD SYNNEX by 12.2% during the fourth quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after purchasing an additional 451,557 shares in the last quarter. JPMorgan Chase & Co. boosted its position in TD SYNNEX by 10.7% during the fourth quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock valued at $391,188,000 after purchasing an additional 323,282 shares in the last quarter. Finally, Ninety One UK Ltd boosted its position in TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after purchasing an additional 1,016,251 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

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.