TD SYNNEX (NYSE:SNX) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of TD SYNNEX (NYSE:SNX) from a hold rating to a strong-buy rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently commented on SNX. Raymond James Financial set a $175.00 price target on shares of TD SYNNEX in a research note on Thursday, September 25th. Royal Bank Of Canada boosted their price objective on shares of TD SYNNEX from $165.00 to $180.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. Morgan Stanley boosted their price objective on shares of TD SYNNEX from $173.00 to $181.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. JPMorgan Chase & Co. boosted their price objective on shares of TD SYNNEX from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, July 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of TD SYNNEX from $145.00 to $164.00 and gave the stock a “buy” rating in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $169.55.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $163.96 on Wednesday. The company has a 50 day moving average of $150.00 and a 200 day moving average of $131.76. The stock has a market cap of $13.52 billion, a P/E ratio of 17.78, a P/E/G ratio of 1.28 and a beta of 1.43. TD SYNNEX has a 12 month low of $92.23 and a 12 month high of $167.76. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 17th will be issued a $0.44 dividend. The ex-dividend date is Friday, October 17th. This represents a $1.76 annualized dividend and a yield of 1.1%. TD SYNNEX’s dividend payout ratio is 19.09%.

Insider Transactions at TD SYNNEX

In other news, insider Alim Dhanji sold 1,257 shares of the company’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total value of $179,009.37. Following the sale, the insider directly owned 10,984 shares of the company’s stock, valued at $1,564,231.44. This represents a 10.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann F. Vezina sold 812 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $150.42, for a total transaction of $122,141.04. Following the completion of the sale, the director directly owned 6,079 shares in the company, valued at $914,403.18. This represents a 11.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,930 shares of company stock valued at $430,163 in the last three months. 1.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen LLC purchased a new stake in TD SYNNEX during the 1st quarter valued at approximately $121,259,000. Norges Bank purchased a new stake in TD SYNNEX during the 2nd quarter valued at approximately $124,618,000. Metropolis Capital Ltd purchased a new stake in TD SYNNEX during the 2nd quarter valued at approximately $115,168,000. Vanguard Group Inc. grew its holdings in TD SYNNEX by 10.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider’s stock valued at $1,119,340,000 after buying an additional 759,022 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in TD SYNNEX by 16.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,899,974 shares of the business services provider’s stock valued at $405,441,000 after buying an additional 564,473 shares in the last quarter. 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.