TD SYNNEX Co. (NYSE:SNX) Given Average Rating of “Moderate Buy” by Analysts

Shares of TD SYNNEX Co. (NYSE:SNX) have earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $134.75.

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

Insider Activity at TD SYNNEX

In other news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the transaction, the insider now directly owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann F. Vezina sold 1,937 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 5,695 shares of the company’s stock, valued at $689,721.45. This represents a 25.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after buying an additional 1,154,651 shares in the last quarter. Vanguard Group Inc. raised its position in TD SYNNEX by 23.4% during the first quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock valued at $751,143,000 after purchasing an additional 1,261,474 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of TD SYNNEX by 58.9% in the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after purchasing an additional 1,006,569 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of TD SYNNEX by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after purchasing an additional 177,460 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of TD SYNNEX by 0.7% during the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after buying an additional 15,995 shares in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Trading Up 1.9 %

NYSE SNX opened at $118.82 on Tuesday. TD SYNNEX has a 12 month low of $96.93 and a 12 month high of $133.85. The stock has a 50-day simple moving average of $118.89 and a 200 day simple moving average of $119.67. 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 company has a market capitalization of $10.11 billion, a PE ratio of 15.37, a P/E/G ratio of 1.17 and a beta of 1.48.

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

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s payout ratio is presently 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.