TD SYNNEX’s (SNX) Outperform Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research note released on Monday morning,Benzinga reports. Barrington Research currently has a $156.00 target price on the business services provider’s stock.

A number of other research analysts have also recently commented on SNX. Barclays reduced their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Royal Bank Of Canada reduced their target price on shares of TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a report on Friday, April 11th. Cfra lowered their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Morgan Stanley began coverage on shares of TD SYNNEX in a research report on Wednesday, June 11th. They set an “overweight” rating and a $145.00 price target for the company. Finally, Wall Street Zen downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $139.00.

TD SYNNEX Stock Up 0.6%

SNX stock opened at $137.66 on Monday. The company’s 50 day moving average is $120.06 and its 200 day moving average is $124.20. The stock has a market cap of $11.55 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.17 and a beta of 1.29. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.45. TD SYNNEX has a 1-year low of $92.23 and a 1-year high of $145.10.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, June 24th. The business services provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The company had revenue of $14.95 billion during the quarter, compared to the consensus estimate of $14.30 billion. During the same period in the previous year, the firm posted $2.73 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, July 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.28%. TD SYNNEX’s dividend payout ratio is currently 21.97%.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total value of $189,153.15. Following the completion of the transaction, the chief financial officer now directly owns 49,563 shares of the company’s stock, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Miriam Anne Murphy sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $110.00, for a total transaction of $330,000.00. Following the completion of the transaction, the insider now owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. The trade was a 16.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Institutional Trading of TD SYNNEX

A number of large investors have recently made changes to their positions in SNX. Voya Investment Management LLC increased its position in TD SYNNEX by 27.4% during the first quarter. Voya Investment Management LLC now owns 33,490 shares of the business services provider’s stock valued at $3,482,000 after acquiring an additional 7,212 shares during the last quarter. Strs Ohio bought a new stake in shares of TD SYNNEX during the 1st quarter valued at about $1,913,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of TD SYNNEX by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock valued at $21,226,000 after purchasing an additional 12,615 shares during the period. Empowered Funds LLC increased its position in shares of TD SYNNEX by 4.8% during the 1st quarter. Empowered Funds LLC now owns 69,497 shares of the business services provider’s stock valued at $7,225,000 after purchasing an additional 3,156 shares during the last quarter. Finally, United Services Automobile Association bought a new position in shares of TD SYNNEX in the 1st quarter worth approximately $475,000. 84.00% of the stock is currently 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.