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

TD SYNNEX Co. (NYSE:SNX) shares gapped up before the market opened 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.

Wall Street Analyst Weigh In

SNX has been the subject of several recent research reports. Barrington Research boosted their target price on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Bank of America raised their target price on TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, April 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Cfra lifted their price target on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a “hold” rating in a research report on Tuesday, March 26th. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $121.82.

TD SYNNEX Stock Up 2.2 %

The company has a market capitalization of $10.18 billion, a P/E ratio of 16.59, a P/E/G ratio of 1.07 and a beta of 1.64. The business’s fifty day moving average price is $106.47 and its 200 day moving average price is $102.26. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38.

TD SYNNEX Announces Dividend

The company 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. This represents a $1.60 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s payout ratio is 23.22%.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other TD SYNNEX news, Director Fred A. Breidenbach sold 3,849 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $103.61, for a total transaction of $398,794.89. Following the transaction, the director now directly owns 18,148 shares in the company, valued at approximately $1,880,314.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the business’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 transaction of $2,362,000.00. Following the sale, 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 90 days, insiders sold 48,204 shares of company stock valued at $5,329,180. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Several institutional investors and hedge funds have recently made changes to their positions in SNX. Rise Advisors LLC bought a new stake in TD SYNNEX in the first quarter valued at about $32,000. Pineridge Advisors LLC acquired a new position in shares of TD SYNNEX during the 4th quarter worth about $33,000. Nomura Asset Management Co. Ltd. increased its stake in shares of 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 acquiring an additional 200 shares during the last quarter. Advisors Asset Management Inc. bought a new position in TD SYNNEX during the 1st quarter worth approximately $51,000. Finally, Covestor Ltd grew its holdings in TD SYNNEX by 91.5% during the first 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 period. 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.