TD SYNNEX (NYSE:SNX) Price Target Raised to $132.00 at Barclays

TD SYNNEX (NYSE:SNX) had its price objective increased by Barclays from $131.00 to $132.00 in a research report sent to investors on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the business services provider’s stock.

SNX has been the subject of several other reports. Barrington Research reissued an outperform rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. UBS Group lifted their price target on TD SYNNEX from $145.00 to $150.00 and gave the stock a buy rating in a research note on Wednesday, June 26th. Bank of America cut their price objective on TD SYNNEX from $135.00 to $132.00 and set a buy rating on the stock in a report on Thursday, June 27th. StockNews.com upgraded shares of TD SYNNEX from a hold rating to a buy rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of TD SYNNEX from $126.00 to $123.00 and set a neutral rating on the stock in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $132.57.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock opened at $120.11 on Friday. TD SYNNEX has a 52 week low of $89.73 and a 52 week high of $133.85. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $116.27 and its two-hundred day moving average price is $118.18. The stock has a market cap of $10.26 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The business had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a net margin of 1.14% and a return on equity of 12.32%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.71 EPS. As a group, sell-side analysts anticipate that TD SYNNEX will post 11.22 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is 22.41%.

Insider Buying and Selling

In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the sale, the chief operating officer now owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares in the company, valued at $15,882,422.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total value of $1,260,111.74. Following the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,188 shares of company stock worth $1,685,455. 1.90% of the stock is owned by company insiders.

Institutional Trading of TD SYNNEX

Several large investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. lifted its stake in shares of TD SYNNEX by 121.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 140 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of TD SYNNEX in the first quarter worth about $32,000. Pineridge Advisors LLC bought a new stake in shares of TD SYNNEX during the 4th quarter worth about $33,000. Blue Trust Inc. increased its holdings in shares of TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of TD SYNNEX by 217.5% in the 2nd quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after acquiring an additional 311 shares in the last quarter. 84.00% of the stock is owned by institutional investors.

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.