TD SYNNEX (NYSE:SNX) Upgraded at StockNews.com

StockNews.com upgraded shares of TD SYNNEX (NYSE:SNX) from a hold rating to a buy rating in a research report sent to investors on Saturday morning.

A number of other brokerages also recently issued reports on SNX. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Wednesday, January 15th. JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. Finally, Barclays raised their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.38.

TD SYNNEX Stock Up 1.9 %

Shares of SNX opened at $144.25 on Friday. TD SYNNEX has a 52-week low of $99.95 and a 52-week high of $144.48. The company has a market capitalization of $12.21 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. The stock has a fifty day simple moving average of $130.95 and a two-hundred day simple moving average of $122.57. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

TD SYNNEX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a $0.44 dividend. This is an increase from TD SYNNEX’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.22%. The ex-dividend date was Friday, January 24th. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the sale, the chief financial officer now owns 48,362 shares in the company, valued at $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,289 shares of company stock valued at $3,639,500 in the last three months. 1.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bartlett & CO. Wealth Management LLC increased its holdings in shares of TD SYNNEX by 345.1% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the period. Bessemer Group Inc. lifted its position in shares of TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 152 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in TD SYNNEX during the third quarter worth about $30,000. UMB Bank n.a. lifted its position in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock worth $50,000 after buying an additional 140 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in TD SYNNEX during the third quarter worth about $55,000. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.