TD SYNNEX Co. (NYSE:SNX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of TD SYNNEX Co. (NYSE:SNX) have received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $134.75.

Several analysts have weighed in on the company. Barclays lifted their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Barrington Research reissued an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Friday, September 27th. Finally, Loop Capital reissued a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th.

Insider Buying and Selling

In other news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dennis Polk sold 15,689 shares of TD SYNNEX stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total value of $1,834,514.77. Following the transaction, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. This represents a 10.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,645 shares of company stock worth $8,414,329 in the last three months. 1.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SNX. V Square Quantitative Management LLC purchased a new position in shares of TD SYNNEX during the third quarter valued at $30,000. UMB Bank n.a. grew its holdings in shares of TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of TD SYNNEX during the third quarter valued at $37,000. Blue Trust Inc. grew its holdings in shares of TD SYNNEX by 52.3% during the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after buying an additional 123 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in TD SYNNEX by 217.5% in the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

TD SYNNEX Trading Up 0.9 %

NYSE:SNX opened at $116.30 on Tuesday. TD SYNNEX has a 12-month low of $96.93 and a 12-month high of $133.85. The firm has a market capitalization of $9.90 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.17 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The business has a 50 day simple moving average of $118.46 and a 200 day simple moving average of $119.75.

TD SYNNEX (NYSE:SNX) last announced its earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.80 by $0.06. The firm had revenue of $14.68 billion for the quarter, compared to the consensus estimate of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.71 EPS. Equities research analysts predict that TD SYNNEX will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend was Friday, October 11th. TD SYNNEX’s payout ratio is 20.70%.

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.