StockNews.com Downgrades TD SYNNEX (NYSE:SNX) to Hold

StockNews.com cut shares of TD SYNNEX (NYSE:SNX) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Other equities analysts have also issued research reports about the company. Barclays increased their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Friday, September 27th. Barrington Research reissued an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, Loop Capital reiterated a “buy” rating and set a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $134.75.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $116.49 on Wednesday. TD SYNNEX has a twelve month low of $98.70 and a twelve month high of $133.85. The company has a market cap of $9.91 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.14 and a beta of 1.47. The business’s 50 day moving average price is $120.27 and its two-hundred day moving average price is $119.05. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. The firm had revenue of $14.68 billion during the quarter, compared to analysts’ expectations of $14.11 billion. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.71 earnings per share. On average, analysts predict that TD SYNNEX will post 11.03 EPS for the current year.

TD SYNNEX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.37%. The ex-dividend date was Friday, October 11th. TD SYNNEX’s dividend payout ratio (DPR) is currently 20.70%.

Insider Transactions at TD SYNNEX

In other news, insider Dennis Polk sold 15,689 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $116.93, for a total transaction of $1,834,514.77. Following the completion of the sale, the insider now owns 134,706 shares of the company’s stock, valued at $15,751,172.58. This trade represents a 10.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,645 shares of company stock worth $8,415,189. Company insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

A number of hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX in the third quarter valued at $30,000. UMB Bank n.a. lifted its stake in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of TD SYNNEX in the third quarter worth $37,000. Blue Trust Inc. grew its holdings in TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider’s stock valued at $40,000 after buying an additional 123 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of TD SYNNEX in the second quarter valued at approximately $52,000. 84.00% of the stock is currently owned by institutional investors.

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.