TD SYNNEX Co. (NYSE:SNX) Receives $137.22 Consensus Target Price from Brokerages

TD SYNNEX Co. (NYSE:SNX) has been given an average recommendation of “Moderate Buy” by the ten research firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $138.00.

Several brokerages have issued reports on SNX. Barrington Research reiterated an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a report on Friday, April 11th. Barclays cut their price target on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Royal Bank of Canada cut their price target on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group cut their price target on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a report on Friday, March 28th. Finally, UBS Group dropped their target price on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday, March 28th.

Insider Activity

In related news, insider Miriam Anne Murphy sold 3,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the sale, the insider now directly owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at $6,383,891.44. The trade was a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock worth $25,000 after buying an additional 188 shares during the last quarter. Bessemer Group Inc. increased its position in TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock worth $28,000 after buying an additional 152 shares during the last quarter. Versant Capital Management Inc increased its position in TD SYNNEX by 115.1% in the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock worth $36,000 after buying an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in TD SYNNEX in the first quarter worth $44,000. Finally, Quarry LP purchased a new stake in TD SYNNEX in the first quarter worth $51,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Trading Down 2.3%

NYSE SNX opened at $123.20 on Friday. The business has a 50 day simple moving average of $116.05 and a 200 day simple moving average of $123.82. TD SYNNEX has a one year low of $92.23 and a one year high of $145.10. The stock has a market capitalization of $10.34 billion, a P/E ratio of 15.48, a P/E/G ratio of 1.06 and a beta of 1.29. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion during the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.99 EPS. Research analysts expect that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were issued a $0.44 dividend. The ex-dividend date was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.43%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

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.