TD SYNNEX (NYSE:SNX) Given Outperform Rating 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.

Several other equities analysts have also commented on the company. UBS Group reduced their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. The Goldman Sachs Group reduced their price objective on TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Cfra reduced their price objective on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating on the stock in a research report on Friday, March 28th. Royal Bank Of Canada reduced their price objective on TD SYNNEX from $165.00 to $145.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their price objective on TD SYNNEX from $125.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.00.

TD SYNNEX Stock Performance

NYSE:SNX opened at $127.75 on Monday. The business’s 50-day moving average price is $118.72 and its two-hundred day moving average price is $124.02. TD SYNNEX has a twelve month low of $92.23 and a twelve month high of $145.10. The stock has a market cap of $10.72 billion, a P/E ratio of 15.95, a PEG ratio of 1.06 and a beta of 1.29. The company has a quick ratio of 0.74, a current ratio of 1.27 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.16% and a return on equity of 11.54%. The business had revenue of $14.53 billion during the quarter, compared to analysts’ expectations of $14.79 billion. During the same period in the previous year, the business earned $2.99 EPS. The business’s revenue was up 4.0% on a year-over-year basis. As a group, equities analysts predict that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 11th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, April 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX’s dividend payout ratio is currently 21.97%.

Insider Transactions at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,000 shares of the firm’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 value of $330,000.00. Following the completion of the transaction, the insider now owns 14,883 shares in the company, valued at $1,637,130. This trade represents a 16.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,509 shares of the firm’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC lifted its stake in shares of TD SYNNEX by 20.1% in the 4th quarter. Barclays PLC now owns 97,617 shares of the business services provider’s stock valued at $11,448,000 after purchasing an additional 16,310 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of TD SYNNEX in the 4th quarter valued at approximately $5,158,000. Sei Investments Co. lifted its stake in shares of TD SYNNEX by 25.5% in the 4th quarter. Sei Investments Co. now owns 70,745 shares of the business services provider’s stock valued at $8,297,000 after purchasing an additional 14,379 shares during the period. IFP Advisors Inc lifted its stake in shares of TD SYNNEX by 976.6% in the 4th quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 918 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of TD SYNNEX by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 507,435 shares of the business services provider’s stock valued at $59,512,000 after purchasing an additional 9,915 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.