Wall Street Zen upgraded shares of TD SYNNEX (NYSE:SNX - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
A number of other analysts also recently commented on SNX. Bank of America boosted their price target on shares of TD SYNNEX from $156.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Royal Bank Of Canada reissued an "outperform" rating and issued a $145.00 price target on shares of TD SYNNEX in a report on Wednesday, June 25th. Barrington Research restated an "outperform" rating and set a $156.00 target price on shares of TD SYNNEX in a research report on Friday, July 11th. Morgan Stanley set a $155.00 target price on TD SYNNEX and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $149.30.
Check Out Our Latest Report on SNX
TD SYNNEX Stock Performance
SNX traded down $3.49 during midday trading on Friday, hitting $147.40. 743,874 shares of the company were exchanged, compared to its average volume of 552,303. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 1.20 and a beta of 1.32. The company has a current ratio of 1.26, a quick ratio of 0.75 and a debt-to-equity ratio of 0.45. TD SYNNEX has a 1-year low of $92.23 and a 1-year high of $153.70. The company's 50 day simple moving average is $139.01 and its 200 day simple moving average is $128.28.
TD SYNNEX (NYSE:SNX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The business services provider reported $2.99 EPS for the quarter, beating analysts' consensus estimates of $2.71 by $0.28. The business had revenue of $14.95 billion during the quarter, compared to analysts' expectations 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 was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.73 earnings per share. As a group, sell-side analysts predict that TD SYNNEX will post 11.88 earnings per share for the current year.
TD SYNNEX Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, July 11th. TD SYNNEX's payout ratio is currently 20.56%.
Insider Buying and Selling
In other TD SYNNEX news, Director Ann F. Vezina sold 812 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total transaction of $122,141.04. Following the transaction, the director directly owned 6,079 shares in the company, valued at $914,403.18. This represents a 11.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alim Dhanji sold 1,257 shares of the 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 completion of the transaction, the insider directly owned 10,984 shares in the company, valued at $1,564,231.44. This trade represents a 10.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,888 shares of company stock valued at $9,115,025. 1.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its holdings in shares of TD SYNNEX by 15.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 55,498 shares of the business services provider's stock valued at $6,508,000 after acquiring an additional 7,410 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of TD SYNNEX by 12.9% in the 4th quarter. Bank of Montreal Can now owns 9,147 shares of the business services provider's stock worth $1,073,000 after acquiring an additional 1,047 shares during the period. Bessemer Group Inc. lifted its stake in shares of TD SYNNEX by 174.7% in the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after acquiring an additional 152 shares during the period. Barclays PLC lifted its stake in shares of TD SYNNEX by 20.1% in the 4th quarter. Barclays PLC now owns 97,617 shares of the business services provider's stock worth $11,448,000 after acquiring an additional 16,310 shares during the period. Finally, Mariner LLC lifted its stake in shares of TD SYNNEX by 8.5% in the 4th quarter. Mariner LLC now owns 4,348 shares of the business services provider's stock worth $510,000 after acquiring an additional 342 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.
TD SYNNEX Company Profile
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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.
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