TD SYNNEX (NYSE:SNX) Upgraded at UBS Group

UBS Group upgraded shares of TD SYNNEX (NYSE:SNX) from a neutral rating to a buy rating in a report published on Tuesday, MarketBeat.com reports. The firm currently has $145.00 price target on the business services provider’s stock, up from their previous price target of $115.00.

Other analysts also recently issued research reports about the company. Barrington Research upped 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. Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an equal weight rating in a research report on Wednesday, March 27th. Bank of America boosted their price objective on TD SYNNEX from $120.00 to $140.00 and gave the stock a buy rating in a research report on Tuesday, April 2nd. Cfra boosted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $113.00 to $126.00 and gave the stock a neutral rating in a research report on Monday, April 1st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, TD SYNNEX presently has an average rating of Moderate Buy and a consensus price target of $121.82.

TD SYNNEX Stock Performance

SNX opened at $113.75 on Tuesday. The company has a market cap of $10.14 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.06 and a beta of 1.64. The stock has a 50-day moving average of $107.31 and a 200-day moving average of $102.52. TD SYNNEX has a 52-week low of $86.30 and a 52-week high of $119.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. As a group, equities research analysts forecast that TD SYNNEX will post 11.33 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Insider Transactions at TD SYNNEX

In related news, insider Michael Urban sold 5,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $105.00, for a total transaction of $525,000.00. Following the sale, the insider now directly owns 26,386 shares in the company, valued at approximately $2,770,530. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $105.00, for a total value of $525,000.00. Following the completion of the sale, the insider now directly owns 26,386 shares of the company’s stock, valued at $2,770,530. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,355 shares of company stock valued at $4,408,685. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors have recently made changes to their positions in the stock. State of Michigan Retirement System grew its stake in shares of TD SYNNEX by 13.8% during the first quarter. State of Michigan Retirement System now owns 14,021 shares of the business services provider’s stock worth $1,586,000 after purchasing an additional 1,700 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of TD SYNNEX by 85.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,199 shares of the business services provider’s stock worth $1,493,000 after purchasing an additional 6,098 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of TD SYNNEX by 9.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,571 shares of the business services provider’s stock worth $743,000 after purchasing an additional 548 shares during the period. Atlas Capital Advisors LLC grew its stake in shares of TD SYNNEX by 17.3% during the first quarter. Atlas Capital Advisors LLC now owns 2,769 shares of the business services provider’s stock worth $313,000 after purchasing an additional 408 shares during the period. Finally, BTC Capital Management Inc. acquired a new stake in shares of TD SYNNEX during the first quarter worth $238,000. 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.