TD SYNNEX (NYSE:SNX) Upgraded to Buy at UBS Group

UBS Group upgraded shares of TD SYNNEX (NYSE:SNX) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat Ratings reports. The brokerage currently has $145.00 price target on the business services provider’s stock, up from their prior price target of $115.00.

Other analysts also recently issued research reports about the company. Royal Bank of Canada restated a sector perform rating and issued a $118.00 price target (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Cfra lifted their price target on TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a research report on Tuesday, March 26th. Barclays increased their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a research report on Wednesday, March 27th. JPMorgan Chase & Co. lifted their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a neutral rating in a report on Monday, April 1st. Finally, Bank of America increased their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a buy rating in a report on Tuesday, April 2nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $121.82.

TD SYNNEX Stock Down 0.4 %

SNX stock opened at $113.34 on Tuesday. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.08 and a beta of 1.64. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. The business’s 50 day moving average price is $107.55 and its two-hundred day moving average price is $102.62. TD SYNNEX has a fifty-two week low of $86.30 and a fifty-two week high of $119.87.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.12. The business 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, analysts forecast that TD SYNNEX will post 11.33 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

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

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction 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 $24,213,851.91. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Michael Urban sold 4,355 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 20,270 shares in the company, valued at approximately $2,168,890. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the 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 completion of the sale, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Insiders sold a total of 39,355 shares of company stock worth $4,408,685 in the last three months. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently modified their holdings of SNX. Apollo Management Holdings L.P. bought a new position in TD SYNNEX in the 1st quarter worth $3,622,519,000. FMR LLC raised its stake in TD SYNNEX by 4.7% during the 3rd quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock valued at $684,423,000 after purchasing an additional 307,844 shares during the period. Vanguard Group Inc. raised its stake in TD SYNNEX by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock valued at $578,934,000 after purchasing an additional 371,322 shares during the period. BlackRock Inc. lifted its holdings in TD SYNNEX by 4.8% in the 1st quarter. BlackRock Inc. now owns 4,384,593 shares of the business services provider’s stock worth $424,385,000 after purchasing an additional 199,876 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in TD SYNNEX by 33,158.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after purchasing an additional 1,331,988 shares during the period. 84.00% of the stock is owned by hedge funds and other institutional investors.

About TD SYNNEX

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.