TD SYNNEX’s (SNX) “Sector Perform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of TD SYNNEX (NYSE:SNX) in a report released on Wednesday, Benzinga reports. They currently have a $135.00 target price on the business services provider’s stock.

Several other research firms also recently commented on SNX. Barrington Research reissued an outperform rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Wednesday. Bank of America boosted their price objective on shares of TD SYNNEX from $120.00 to $140.00 and gave the stock a buy rating in a research note on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their price objective on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Cfra boosted their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a research note on Tuesday, March 26th. Finally, UBS Group upgraded shares of TD SYNNEX from a neutral rating to a buy rating and boosted their price objective for the stock from $115.00 to $145.00 in a research note on Tuesday, April 16th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of Moderate Buy and a consensus target price of $126.10.

TD SYNNEX Stock Performance

SNX stock opened at $115.35 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $10.28 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 1.12 and a beta of 1.55. TD SYNNEX has a 12 month low of $89.73 and a 12 month high of $133.85. The firm has a 50 day moving average of $124.72 and a two-hundred day moving average of $112.61.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, topping the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. As a group, equities analysts anticipate that TD SYNNEX will post 11.38 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.39%. The ex-dividend date is Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is presently 22.41%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the sale, the chief executive officer now owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the sale, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock valued at $5,833,100 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in TD SYNNEX by 23.4% during the 1st quarter. Vanguard Group Inc. now owns 6,641,402 shares of the business services provider’s stock worth $751,143,000 after acquiring an additional 1,261,474 shares during the last quarter. Nordea Investment Management AB grew its holdings in TD SYNNEX by 38.5% during the 1st quarter. Nordea Investment Management AB now owns 1,518,406 shares of the business services provider’s stock worth $172,081,000 after acquiring an additional 421,908 shares during the last quarter. Pacer Advisors Inc. grew its holdings in TD SYNNEX by 33,158.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock worth $143,767,000 after acquiring an additional 1,331,988 shares during the last quarter. Lyrical Asset Management LP lifted its position in TD SYNNEX by 0.3% during the 4th quarter. Lyrical Asset Management LP now owns 1,277,884 shares of the business services provider’s stock valued at $137,513,000 after purchasing an additional 3,571 shares during the period. Finally, AQR Capital Management LLC lifted its position in TD SYNNEX by 2.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,124,694 shares of the business services provider’s stock valued at $112,312,000 after purchasing an additional 25,054 shares during the period. 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.