TD SYNNEX (NYSE:SNX) Shares Gap Up to $111.70

TD SYNNEX Co. (NYSE:SNX - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $111.70, but opened at $114.87. TD SYNNEX shares last traded at $115.29, with a volume of 196,908 shares trading hands.

Analyst Upgrades and Downgrades

SNX has been the topic of a number of research analyst reports. Barrington Research boosted their price target on TD SYNNEX from $122.00 to $138.00 and gave the stock an "outperform" rating in a research note on Thursday, March 28th. UBS Group upgraded TD SYNNEX from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $115.00 to $145.00 in a research note on Tuesday. StockNews.com upgraded TD SYNNEX from a "hold" rating to a "buy" rating in a research note on Thursday, December 21st. JPMorgan Chase & Co. boosted their price target on TD SYNNEX from $113.00 to $126.00 and gave the stock a "neutral" rating in a research note on Monday, April 1st. Finally, Bank of America boosted their price target on TD SYNNEX from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $121.82.

TD SYNNEX Price Performance

The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 1.07 and a beta of 1.64. The stock has a fifty day simple moving average of $106.73 and a 200-day simple moving average of $102.35. 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, April 11th. TD SYNNEX's payout ratio is presently 23.22%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Fred A. Breidenbach sold 3,849 shares of the business's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $103.61, for a total value of $398,794.89. Following the completion of the transaction, the director now directly owns 18,148 shares of the company's stock, valued at $1,880,314.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Fred A. Breidenbach sold 3,849 shares of the company's stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $103.61, for a total transaction of $398,794.89. Following the completion of the transaction, the director now directly owns 18,148 shares of the company's stock, valued at approximately $1,880,314.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Dennis Polk sold 20,000 shares of the company's stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares of the company's stock, valued at $15,908,778.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,204 shares of company stock valued at $5,329,180. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Rise Advisors LLC acquired a new position in shares of TD SYNNEX during the 1st quarter worth approximately $32,000. Pineridge Advisors LLC acquired a new position in TD SYNNEX in the 4th quarter valued at $33,000. Nomura Asset Management Co. Ltd. raised its stake in TD SYNNEX by 95.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider's stock valued at $40,000 after purchasing an additional 200 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in TD SYNNEX in the 1st quarter valued at $51,000. Finally, Covestor Ltd raised its stake in TD SYNNEX by 91.5% in the 1st quarter. Covestor Ltd now owns 697 shares of the business services provider's stock valued at $72,000 after purchasing an additional 333 shares during the last quarter. 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.