TD SYNNEX (NYSE:SNX) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research note published on Friday, Benzinga reports. The brokerage currently has a $140.00 target price on the business services provider’s stock.

Other analysts also recently issued reports about the company. StockNews.com upgraded TD SYNNEX from a hold rating to a buy rating in a research note on Friday, August 16th. UBS Group boosted their target price on shares of TD SYNNEX from $145.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. Barrington Research reiterated an outperform rating and issued a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Bank of America decreased their price objective on shares of TD SYNNEX from $135.00 to $132.00 and set a buy rating on the stock in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. lowered their target price on shares of TD SYNNEX from $126.00 to $123.00 and set a neutral rating on the stock in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $132.57.

TD SYNNEX Trading Up 0.4 %

NYSE:SNX opened at $120.11 on Friday. 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 stock’s 50 day simple moving average is $116.27 and its 200-day simple moving average is $118.18. TD SYNNEX has a 12-month low of $89.73 and a 12-month high of $133.85. The firm has a market cap of $10.26 billion, a P/E ratio of 16.82, a PEG ratio of 1.18 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 earnings per share (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 analyst estimates 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 was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.71 earnings per share. Equities analysts anticipate that TD SYNNEX will post 11.22 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $1.60 annualized dividend and a yield of 1.33%. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

Insider Buying and Selling at TD SYNNEX

In other news, CFO Marshall Witt sold 11,441 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the transaction, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at approximately $4,968,966.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Marshall Witt sold 11,441 shares of the company’s stock in a transaction on 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 in the company, valued at $4,968,966.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Patrick Zammit sold 3,513 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 140,205 shares in the company, valued at approximately $15,882,422.40. The disclosure for this sale can be found here. Insiders have sold 15,188 shares of company stock valued at $1,685,455 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of institutional investors have recently modified their holdings of SNX. Benjamin F. Edwards & Company Inc. boosted its position in TD SYNNEX by 121.7% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock worth $29,000 after acquiring an additional 140 shares during the last quarter. Rise Advisors LLC acquired a new stake in shares of TD SYNNEX during the first quarter worth $32,000. Pineridge Advisors LLC purchased a new stake in shares of TD SYNNEX in the fourth quarter valued at $33,000. Blue Trust Inc. increased its stake in TD SYNNEX by 52.3% in the second quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 123 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in TD SYNNEX by 217.5% during the second quarter. GAMMA Investing LLC now owns 454 shares of the business services provider’s stock worth $52,000 after buying an additional 311 shares during the period. Institutional investors and hedge funds 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.