TD SYNNEX (NYSE:SNX) Shares Gap Up to $111.70

TD SYNNEX Co. (NYSE:SNX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $111.70, but opened at $114.87. TD SYNNEX shares last traded at $115.29, with a volume of 196,908 shares trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Bank of America raised their target price on shares of TD SYNNEX from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, April 2nd. Barclays raised their target price 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. Barrington Research raised their target price on shares of TD SYNNEX from $122.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, StockNews.com upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and an average target price of $121.82.

TD SYNNEX Price Performance

The company’s 50 day moving average price is $107.05 and its 200-day moving average price is $102.44. The stock has a market cap of $10.24 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.06 and a beta of 1.64. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.38.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, April 11th. TD SYNNEX’s payout ratio is currently 23.22%.

Insider Buying and Selling

In related news, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction on Friday, January 19th. The shares were sold at an average price of $104.34, for a total transaction of $521,700.00. Following the completion of the transaction, the insider now owns 31,386 shares of the company’s stock, valued at $3,274,815.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Dennis Polk sold 20,000 shares of TD SYNNEX stock in a transaction 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 completion of the transaction, the insider now owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction on Friday, January 19th. The stock was sold at an average price of $104.34, for a total transaction of $521,700.00. Following the transaction, the insider now directly owns 31,386 shares of the company’s stock, valued at approximately $3,274,815.24. The disclosure for this sale can be found here. Insiders sold 44,355 shares of company stock valued at $4,930,385 over the last quarter. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Diversified Trust Co increased its stake in TD SYNNEX by 15.9% in the fourth quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock valued at $322,000 after purchasing an additional 409 shares in the last quarter. Raymond James Trust N.A. increased its stake in TD SYNNEX by 9.0% in the fourth quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock valued at $389,000 after purchasing an additional 297 shares in the last quarter. Schwartz Investment Counsel Inc. increased its stake in TD SYNNEX by 10.8% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 102,500 shares of the business services provider’s stock valued at $11,030,000 after purchasing an additional 10,000 shares in the last quarter. Signaturefd LLC increased its stake in TD SYNNEX by 28.9% in the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after purchasing an additional 214 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in TD SYNNEX by 4.0% in the third quarter. Vanguard Group Inc. now owns 5,008,606 shares of the business services provider’s stock valued at $500,159,000 after purchasing an additional 193,198 shares in the last quarter. 84.00% of the stock is 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.