TD SYNNEX (NYSE:SNX) Earns Outperform Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a report issued on Monday morning,Benzinga reports. The firm currently has a $156.00 price objective on the business services provider’s stock.

Other equities analysts have also issued research reports about the company. Barclays dropped their price objective on TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Cfra dropped their price target on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Wall Street Zen cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. UBS Group dropped their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, TD SYNNEX currently has an average rating of “Moderate Buy” and an average target price of $139.00.

TD SYNNEX Trading Up 0.6%

Shares of NYSE:SNX opened at $137.66 on Monday. The stock has a 50 day moving average of $120.06 and a 200 day moving average of $124.20. The company has a market cap of $11.55 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. TD SYNNEX has a 12-month low of $92.23 and a 12-month high of $145.10. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.45.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.28. The business had revenue of $14.95 billion during the quarter, compared to analyst estimates of $14.30 billion. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.73 earnings per share. As a group, equities research analysts expect that TD SYNNEX will post 11.88 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 11th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Friday, July 11th. TD SYNNEX’s dividend payout ratio (DPR) is presently 21.97%.

Insider Activity

In related news, insider Miriam Anne Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the insider now owns 14,883 shares of the company’s stock, valued at $1,637,130. The trade was a 16.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Marshall Witt sold 1,509 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the sale, the chief financial officer now directly owns 49,563 shares in the company, valued at $6,212,722.05. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors have recently bought and sold shares of the company. Bessemer Group Inc. increased its position in TD SYNNEX by 174.7% during the 4th quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after buying an additional 152 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of TD SYNNEX by 329.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock valued at $25,000 after acquiring an additional 188 shares in the last quarter. Versant Capital Management Inc raised its position in shares of TD SYNNEX by 115.1% in the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 183 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in TD SYNNEX in the 1st quarter worth approximately $44,000. Finally, Blue Trust Inc. boosted its stake in TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after purchasing an additional 129 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.