TD SYNNEX (NYSE:SNX) Price Target Raised to $113.00 at Cfra

TD SYNNEX (NYSE:SNX) had its price objective lifted by Cfra from $110.00 to $113.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Cfra currently has a hold rating on the business services provider’s stock.

A number of other research firms have also recently weighed in on SNX. Royal Bank of Canada lifted their price objective on TD SYNNEX from $97.00 to $110.00 and gave the company a sector perform rating in a research report on Wednesday, January 10th. StockNews.com raised TD SYNNEX from a hold rating to a buy rating in a research report on Thursday, December 21st. Finally, JPMorgan Chase & Co. cut TD SYNNEX from an overweight rating to a neutral rating and lifted their price objective for the company from $112.00 to $113.00 in a research report on Monday, January 8th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $114.73.

TD SYNNEX Trading Down 2.5 %

Shares of NYSE:SNX opened at $113.10 on Tuesday. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 1.11 and a beta of 1.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.22. The stock’s 50-day simple moving average is $103.77 and its two-hundred day simple moving average is $101.12. TD SYNNEX has a 52-week low of $86.30 and a 52-week high of $116.05.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.56 by $0.57. The business had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.54 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period last year, the firm posted $3.30 earnings per share. Analysts expect that TD SYNNEX will post 11.17 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.60 dividend on an annualized basis and a yield of 1.41%. TD SYNNEX’s dividend payout ratio is presently 23.22%.

Insider Buying and Selling

In other news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction 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 approximately $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Michael Urban sold 4,355 shares of the stock in a transaction 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 owns 20,270 shares in the company, valued at approximately $2,168,890. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard T. Hume sold 10,000 shares of the stock in a transaction on Monday, March 4th. The shares were 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 owns 229,363 shares in the company, valued at approximately $24,213,851.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,289,905 shares of company stock valued at $232,556,362. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds have recently bought and sold shares of SNX. American Century Companies Inc. grew its position in TD SYNNEX by 31.5% in the 1st quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock valued at $2,085,000 after acquiring an additional 4,841 shares during the last quarter. US Bancorp DE boosted its position in TD SYNNEX by 11.6% during the first quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock valued at $745,000 after purchasing an additional 747 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in TD SYNNEX by 7.6% during the first quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock valued at $992,000 after purchasing an additional 677 shares in the last quarter. Bank of Montreal Can boosted its position in TD SYNNEX by 202.3% during the first quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock valued at $5,569,000 after purchasing an additional 35,593 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in TD SYNNEX during the first quarter valued at about $1,065,000. 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.