TD SYNNEX (NYSE:SNX) Price Target Raised to $170.00

TD SYNNEX (NYSE:SNX - Free Report) had its price objective increased by Bank of America from $156.00 to $170.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the business services provider's stock.

A number of other research firms also recently issued reports on SNX. Morgan Stanley set a $155.00 price objective on shares of TD SYNNEX and gave the company an "overweight" rating in a report on Wednesday, June 25th. Barclays set a $140.00 target price on shares of TD SYNNEX in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Barrington Research restated an "outperform" rating and issued a $156.00 target price on shares of TD SYNNEX in a research report on Friday, July 11th. Finally, The Goldman Sachs Group dropped their target price on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a research report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.30.

TD SYNNEX Stock Performance

NYSE SNX traded up $0.82 during trading on Thursday, reaching $146.71. The company's stock had a trading volume of 676,696 shares, compared to its average volume of 695,784. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. TD SYNNEX has a 12 month low of $92.23 and a 12 month high of $147.18. The firm has a 50 day moving average price of $131.88 and a 200 day moving average price of $127.48.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The firm had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.73 EPS. As a group, equities analysts anticipate that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 11th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date was Friday, July 11th. TD SYNNEX's dividend payout ratio is 20.56%.

Insider Buying and Selling at TD SYNNEX

In other news, insider Alim Dhanji sold 1,257 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the sale, the insider directly owned 10,984 shares of the company's stock, valued at approximately $1,564,231.44. This represents a 10.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the transaction, the insider directly owned 14,883 shares in the company, valued at approximately $1,637,130. This represents a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,076 shares of company stock valued at $9,322,884. 1.00% of the stock is owned by insiders.

Institutional Trading of TD SYNNEX

Several institutional investors and hedge funds have recently made changes to their positions in SNX. Quadrant Capital Group LLC boosted its position in TD SYNNEX by 9.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider's stock worth $125,000 after purchasing an additional 90 shares during the period. Ellevest Inc. increased its stake in shares of TD SYNNEX by 3.9% in the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider's stock worth $280,000 after buying an additional 90 shares during the period. Crossmark Global Holdings Inc. increased its position in TD SYNNEX by 1.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider's stock valued at $630,000 after purchasing an additional 94 shares during the period. Utah Retirement Systems increased its position in TD SYNNEX by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider's stock valued at $481,000 after purchasing an additional 100 shares during the period. Finally, State of Michigan Retirement System grew its position in shares of TD SYNNEX by 0.6% in the 1st quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider's stock worth $1,873,000 after buying an additional 100 shares during the period. Hedge funds and other 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.