Bank of America Boosts TD SYNNEX (NYSE:SNX) Price Target to $140.00

TD SYNNEX (NYSE:SNX - Free Report) had its target price boosted by Bank of America from $120.00 to $140.00 in a research report released on Tuesday, Benzinga reports. Bank of America currently has a buy rating on the business services provider's stock.

Several other research firms have also commented on SNX. Cfra boosted their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a research report on Tuesday, March 26th. StockNews.com raised shares of TD SYNNEX from a hold rating to a buy rating in a research note on Thursday, December 21st. Barrington Research boosted their target price on shares of TD SYNNEX from $122.00 to $138.00 and gave the company an outperform rating in a research note on Thursday, March 28th. Barclays boosted their target price on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the company a neutral rating in a research note on Monday. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, TD SYNNEX has a consensus rating of Moderate Buy and an average price target of $118.18.

TD SYNNEX Price Performance

Shares of NYSE SNX traded up $3.70 during trading on Tuesday, hitting $116.44. 6,752,666 shares of the company were exchanged, compared to its average volume of 913,741. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 16.36, a PEG ratio of 1.01 and a beta of 1.64. TD SYNNEX has a 1 year low of $86.30 and a 1 year high of $116.83. The firm's fifty day moving average price is $103.91 and its 200 day moving average price is $101.22. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Tuesday, January 9th. The business services provider reported $3.13 EPS for the quarter, topping the consensus estimate of $2.56 by $0.57. The company had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.54 billion. TD SYNNEX had a net margin of 1.12% and a return on equity of 12.16%. The business's revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. On average, sell-side analysts expect that TD SYNNEX will post 11.17 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 23.22%.

Insider Buying and Selling

In related news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the sale, the chief executive officer now owns 229,363 shares of the company's stock, valued at approximately $24,213,851.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the sale, the chief executive officer now owns 229,363 shares of the company's stock, valued at approximately $24,213,851.91. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Urban sold 4,355 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $107.00, for a total transaction of $465,985.00. Following the sale, the insider now directly owns 20,270 shares of the company's stock, valued at approximately $2,168,890. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,289,905 shares of company stock valued at $232,556,362. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TD SYNNEX

A number of institutional investors and hedge funds have recently bought and sold shares of SNX. Apollo Management Holdings L.P. purchased a new position in TD SYNNEX in the 1st quarter worth approximately $3,622,519,000. Pacer Advisors Inc. boosted its holdings in TD SYNNEX by 33,158.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider's stock worth $143,767,000 after acquiring an additional 1,331,988 shares during the period. Norges Bank purchased a new position in TD SYNNEX in the 4th quarter worth approximately $79,506,000. AQR Capital Management LLC boosted its holdings in TD SYNNEX by 330.6% in the 1st quarter. AQR Capital Management LLC now owns 679,948 shares of the business services provider's stock worth $64,738,000 after acquiring an additional 522,055 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in TD SYNNEX by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider's stock worth $578,934,000 after acquiring an additional 371,322 shares during the period. Institutional investors and hedge funds own 84.00% of the company's stock.

About TD SYNNEX

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.