TD SYNNEX (NYSE:SNX) Upgraded to Buy by UBS Group

UBS Group upgraded shares of TD SYNNEX (NYSE:SNX) from a neutral rating to a buy rating in a research note published on Tuesday, MarketBeat reports. UBS Group currently has $145.00 price target on the business services provider’s stock, up from their previous price target of $115.00.

A number of other equities research analysts have also issued reports on SNX. Cfra upped their price objective on shares of TD SYNNEX from $110.00 to $113.00 and gave the company a hold rating in a report on Tuesday, March 26th. Bank of America raised their price target on shares of TD SYNNEX from $120.00 to $140.00 and gave the stock a buy rating in a report on Tuesday, April 2nd. Barclays upped their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a report on Wednesday, March 27th. JPMorgan Chase & Co. raised their target price on TD SYNNEX from $113.00 to $126.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Finally, StockNews.com raised TD SYNNEX from a hold rating to a buy rating in a research note on Thursday, December 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $121.82.

TD SYNNEX Stock Performance

NYSE:SNX opened at $113.34 on Tuesday. TD SYNNEX has a twelve month low of $86.30 and a twelve month high of $119.87. The company has a market cap of $10.10 billion, a P/E ratio of 16.45, a P/E/G ratio of 1.08 and a beta of 1.64. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $107.55 and its 200-day moving average price is $102.62.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.12. The business had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. On average, sell-side analysts forecast that TD SYNNEX will post 11.33 earnings per share for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s dividend payout ratio (DPR) is 23.22%.

Insiders Place Their Bets

In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Dennis Polk sold 20,000 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at $15,908,778.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the transaction, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Insiders have sold 39,355 shares of company stock worth $4,408,685 over the last three months. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SNX. Apollo Management Holdings L.P. purchased a new stake in shares of TD SYNNEX during the 1st quarter worth $3,622,519,000. Pacer Advisors Inc. boosted its holdings in TD SYNNEX by 33,158.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,336,005 shares of the business services provider’s stock valued at $143,767,000 after purchasing an additional 1,331,988 shares in the last quarter. Norges Bank acquired a new position in shares of TD SYNNEX in the 4th quarter valued at $79,506,000. AQR Capital Management LLC grew its holdings in shares of TD SYNNEX by 330.6% during the first quarter. AQR Capital Management LLC now owns 679,948 shares of the business services provider’s stock worth $64,738,000 after purchasing an additional 522,055 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in TD SYNNEX by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 5,379,928 shares of the business services provider’s stock worth $578,934,000 after buying an additional 371,322 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.