Brokerages Set TD SYNNEX Corporation (NYSE:SNX) Price Target at $233.10

Shares of TD SYNNEX Corporation (NYSE:SNX) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $249.80.

Several research firms have recently weighed in on SNX. Royal Bank Of Canada lifted their price objective on TD SYNNEX from $250.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Weiss Ratings cut TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, June 17th. Barrington Research restated an “outperform” rating on shares of TD SYNNEX in a research note on Tuesday, June 16th. Finally, UBS Group boosted their target price on TD SYNNEX from $265.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO David Gregory Jordan sold 3,225 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the sale, the chief financial officer owned 14,035 shares in the company, valued at approximately $2,659,071.10. The trade was a 18.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total value of $605,423.50. Following the completion of the sale, the insider owned 10,820 shares in the company, valued at $2,165,514.80. The trade was a 21.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 21,250 shares of company stock worth $4,935,282. Corporate insiders own 0.70% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently made changes to their positions in SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of TD SYNNEX by 9.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock worth $1,749,000 after purchasing an additional 1,460 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of TD SYNNEX by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after purchasing an additional 9,815 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of TD SYNNEX by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after purchasing an additional 12,615 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of TD SYNNEX during the 2nd quarter worth approximately $818,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of TD SYNNEX by 17.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock worth $116,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Up 2.7%

NYSE:SNX opened at $290.97 on Wednesday. TD SYNNEX has a fifty-two week low of $128.01 and a fifty-two week high of $294.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. The stock has a market capitalization of $23.39 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.17 and a beta of 1.43. The business’s 50-day simple moving average is $245.59 and its 200-day simple moving average is $189.88.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, beating the consensus estimate of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The business had revenue of $17.16 billion for the quarter, compared to analysts’ expectations of $15.59 billion. During the same quarter in the previous year, the business posted $2.80 EPS. TD SYNNEX’s revenue for the quarter was up 18.1% on a year-over-year basis. Sell-side analysts expect that TD SYNNEX will post 15.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were paid a $0.48 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 annualized dividend and a yield of 0.7%. TD SYNNEX’s payout ratio is presently 15.96%.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.