TD SYNNEX (NYSE:SNX) Price Target Lowered to $138.00 at UBS Group

TD SYNNEX (NYSE:SNX) had its price target trimmed by UBS Group from $150.00 to $138.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the business services provider’s stock.

A number of other research firms have also issued reports on SNX. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and upped their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. cut their target price on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a research note on Friday. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday. Barrington Research restated an “outperform” rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday. Finally, Barclays boosted their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

TD SYNNEX Stock Down 2.9 %

TD SYNNEX stock opened at $104.45 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The stock has a market capitalization of $8.81 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The business has a 50 day simple moving average of $135.67 and a 200-day simple moving average of $125.53. TD SYNNEX has a 12 month low of $98.00 and a 12 month high of $145.10.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.99 earnings per share. On average, analysts anticipate that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.68%. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the sale, the chief financial officer now directly owns 49,843 shares of the company’s stock, valued at $6,383,891.44. This represents a 2.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,172 shares of company stock valued at $6,353,261 over the last quarter. 1.00% of the stock is owned by company insiders.

Institutional Trading of TD SYNNEX

A number of large investors have recently modified their holdings of SNX. Norges Bank acquired a new position in TD SYNNEX during the 4th quarter worth $121,199,000. Ninety One UK Ltd grew its position in shares of TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after buying an additional 1,016,251 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of TD SYNNEX by 343.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock worth $141,913,000 after buying an additional 937,040 shares during the period. JPMorgan Chase & Co. raised its holdings in TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after acquiring an additional 813,634 shares in the last quarter. Finally, LSV Asset Management lifted its stake in TD SYNNEX by 46.9% in the fourth quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider’s stock worth $201,235,000 after acquiring an additional 547,692 shares during the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.