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 report published on Tuesday morning, Marketbeat reports. They currently have $145.00 price target on the business services provider’s stock, up from their prior price target of $115.00.

A number of other equities analysts have also weighed in on the stock. Barclays boosted their price objective on shares of TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a research report on Wednesday, March 27th. Royal Bank of Canada reiterated a sector perform rating and issued a $118.00 price target (up from $110.00) on shares of TD SYNNEX in a report on Wednesday, March 27th. StockNews.com upgraded TD SYNNEX from a hold rating to a buy rating in a report on Thursday, December 21st. Cfra upped their target price on TD SYNNEX from $110.00 to $113.00 and gave the company a hold rating in a research note on Tuesday, March 26th. Finally, JPMorgan Chase & Co. raised their price target on TD SYNNEX from $113.00 to $126.00 and gave the stock a neutral rating in a research note on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, TD SYNNEX presently has a consensus rating of Moderate Buy and an average price target of $121.82.

TD SYNNEX Trading Up 1.1 %

TD SYNNEX stock opened at $112.97 on Tuesday. The stock has a market cap of $10.07 billion, a PE ratio of 16.40, a P/E/G ratio of 1.07 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 stock has a 50-day moving average price of $106.73 and a 200 day moving average price of $102.35. TD SYNNEX has a 52 week low of $86.30 and a 52 week high of $119.87.

TD SYNNEX Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, April 11th. TD SYNNEX’s dividend payout ratio is currently 23.22%.

Insider Buying and Selling

In other TD SYNNEX news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares in the company, valued at $24,213,851.91. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated 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 sale, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,355 shares of company stock valued at $4,930,385. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently bought and sold shares of SNX. Wealth Enhancement Advisory Services LLC raised its stake in shares of TD SYNNEX by 9.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,571 shares of the business services provider’s stock valued at $743,000 after purchasing an additional 548 shares during the period. Atlas Capital Advisors LLC grew its holdings in TD SYNNEX by 17.3% during the 1st quarter. Atlas Capital Advisors LLC now owns 2,769 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 408 shares in the last quarter. BTC Capital Management Inc. acquired a new stake in TD SYNNEX during the 1st quarter valued at $238,000. Alaska Permanent Fund Corp increased its stake in TD SYNNEX by 1.3% during the 1st quarter. Alaska Permanent Fund Corp now owns 25,325 shares of the business services provider’s stock worth $2,864,000 after buying an additional 315 shares during the period. Finally, Rise Advisors LLC acquired a new position in TD SYNNEX in the 1st quarter worth $32,000. 84.00% of the stock is owned by institutional investors and hedge funds.

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.