TD SYNNEX (NYSE:SNX) Sets New 1-Year High at $122.23

TD SYNNEX Co. (NYSE:SNX - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $122.23 and last traded at $122.13, with a volume of 12633 shares traded. The stock had previously closed at $121.53.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. UBS Group raised TD SYNNEX from a "neutral" rating to a "buy" rating and raised their price objective for the company from $115.00 to $145.00 in a research note on Tuesday, April 16th. Bank of America increased their target price on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, April 1st. Royal Bank of Canada reissued a "sector perform" rating and issued a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Finally, Barclays boosted their target price on TD SYNNEX from $111.00 to $118.00 and gave the company an "equal weight" rating in a research report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $121.82.

TD SYNNEX Stock Performance

The firm has a 50 day moving average price of $112.42 and a 200 day moving average price of $105.20. The stock has a market cap of $10.87 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.14 and a beta of 1.59. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, topping analysts' consensus estimates of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. As a group, research analysts forecast that TD SYNNEX Co. will post 11.38 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.31%. TD SYNNEX's dividend payout ratio (DPR) is 23.22%.

Insider Activity

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the sale, the chief executive officer now directly owns 229,363 shares of the company's stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Insiders have sold 40,000 shares of company stock worth $4,575,600 in the last quarter. Corporate insiders own 1.90% of the company's stock.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Seven Eight Capital LP increased its position in shares of TD SYNNEX by 1,165.9% during the 1st quarter. Seven Eight Capital LP now owns 27,052 shares of the business services provider's stock worth $3,060,000 after purchasing an additional 24,915 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of TD SYNNEX by 11.1% during the first quarter. Ameritas Investment Partners Inc. now owns 12,579 shares of the business services provider's stock worth $1,423,000 after buying an additional 1,254 shares in the last quarter. Bahl & Gaynor Inc. acquired a new position in shares of TD SYNNEX during the first quarter worth about $203,000. Covestor Ltd grew its position in shares of TD SYNNEX by 31.1% during the first quarter. Covestor Ltd now owns 1,658 shares of the business services provider's stock worth $188,000 after buying an additional 393 shares in the last quarter. Finally, Cynosure Group LLC acquired a new position in shares of TD SYNNEX during the first quarter worth about $335,000. 84.00% of the stock is owned by institutional investors and hedge funds.

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.