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

TD SYNNEX Co. (NYSE:SNX)’s stock price gapped up prior to trading 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.

Analyst Upgrades and Downgrades

SNX has been the topic of several research reports. UBS Group upgraded shares of TD SYNNEX from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $145.00 in a research report on Tuesday. 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 boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $118.00 target price (up previously from $110.00) on shares of TD SYNNEX in a research note on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.82.

TD SYNNEX Trading Up 2.2 %

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 company has a market capitalization of $10.18 billion, a P/E ratio of 16.59, a PEG ratio of 1.07 and a beta of 1.64. The company’s fifty day simple moving average is $106.47 and its 200-day simple moving average is $102.26.

TD SYNNEX Announces Dividend

The business 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 dividend of $0.40 per share. The ex-dividend date is Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 1.40%. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

Insider Buying and Selling at TD SYNNEX

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in shares of TD SYNNEX in the 1st quarter valued at $32,000. Pineridge Advisors LLC purchased a new stake in TD SYNNEX during the 4th quarter valued at about $33,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of TD SYNNEX by 95.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 200 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of TD SYNNEX in the first quarter worth about $51,000. Finally, Covestor Ltd lifted its holdings in shares of TD SYNNEX by 91.5% during the first quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock worth $72,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.