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

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

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of TD SYNNEX from $97.00 to $110.00 and gave the stock a sector perform rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. cut shares of TD SYNNEX from an overweight rating to a neutral rating and upped their price objective for the stock from $112.00 to $113.00 in a research report on Monday, January 8th. Finally, StockNews.com upgraded shares of TD SYNNEX from a hold rating to a buy rating in a research report on Thursday, December 21st. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $116.00.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $113.06 on Tuesday. The company’s fifty day moving average price is $103.60 and its 200 day moving average price is $101.02. TD SYNNEX has a 1 year low of $86.30 and a 1 year high of $116.05. The company has a market capitalization of $10.07 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.07 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.

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

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is 23.22%.

Insider Activity

In other news, insider Michael Urban sold 5,000 shares of the stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $103.67, for a total value of $518,350.00. Following the completion of the sale, the insider now directly owns 36,131 shares in the company, valued at $3,745,700.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Urban sold 5,000 shares of the stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $103.67, for a total transaction of $518,350.00. Following the transaction, the insider now directly owns 36,131 shares of the company’s stock, valued at approximately $3,745,700.77. The disclosure for this sale can be found here. Insiders sold 2,289,905 shares of company stock worth $232,556,362 over the last three months. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Apollo Management Holdings L.P. purchased a new position in TD SYNNEX during the first quarter worth about $3,622,519,000. FMR LLC boosted its stake in TD SYNNEX by 4.7% during the third quarter. FMR LLC now owns 6,853,828 shares of the business services provider’s stock worth $684,423,000 after buying an additional 307,844 shares during the period. Vanguard Group Inc. boosted its stake in shares of TD SYNNEX by 7.4% in the fourth 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. boosted its stake in shares of TD SYNNEX by 4.8% in the first quarter. BlackRock Inc. now owns 4,384,593 shares of the business services provider’s stock valued at $424,385,000 after purchasing an additional 199,876 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in shares of TD SYNNEX by 33,158.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock valued at $143,767,000 after purchasing an additional 1,331,988 shares during the period. Hedge funds and other 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.