TD SYNNEX (NYSE:SNX) Price Target Raised to $250.00 at Royal Bank Of Canada

TD SYNNEX (NYSE:SNX) had its target price raised by Royal Bank Of Canada from $210.00 to $250.00 in a report published on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the business services provider’s stock.

A number of other analysts have also weighed in on SNX. Zacks Research raised shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 6th. The Goldman Sachs Group increased their price objective on shares of TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Morgan Stanley increased their price objective on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of TD SYNNEX in a research report on Wednesday, January 21st. Finally, Barrington Research reissued an “outperform” rating and issued a $182.00 price objective on shares of TD SYNNEX in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.50.

TD SYNNEX Stock Performance

TD SYNNEX stock opened at $228.29 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.71. TD SYNNEX has a 1-year low of $111.02 and a 1-year high of $229.47. The firm has a market capitalization of $18.35 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 1.13 and a beta of 1.23. The company’s 50-day moving average is $180.17 and its 200 day moving average is $163.31.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The company had revenue of $17.16 billion for the quarter, compared to analyst estimates of $15.59 billion. During the same period in the prior year, the company posted $2.80 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts forecast that TD SYNNEX will post 15.69 EPS for the current year.

TD SYNNEX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.8%. TD SYNNEX’s dividend payout ratio (DPR) is 15.96%.

Insider Buying and Selling at TD SYNNEX

In other news, Director Merline Saintil sold 167 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total transaction of $26,344.25. Following the transaction, the director directly owned 6,995 shares of the company’s stock, valued at approximately $1,103,461.25. This trade represents a 2.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Miriam Anne Murphy sold 3,025 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $200.14, for a total transaction of $605,423.50. Following the transaction, the insider directly owned 10,820 shares in the company, valued at approximately $2,165,514.80. This trade represents a 21.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 43,682 shares of company stock valued at $7,380,719. 0.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TD SYNNEX

Institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in TD SYNNEX during the fourth quarter valued at approximately $148,559,000. Alyeska Investment Group L.P. purchased a new position in TD SYNNEX during the third quarter valued at approximately $135,631,000. AQR Capital Management LLC increased its holdings in TD SYNNEX by 141.8% during the fourth quarter. AQR Capital Management LLC now owns 934,772 shares of the business services provider’s stock valued at $140,431,000 after buying an additional 548,180 shares during the period. Victory Capital Management Inc. increased its holdings in TD SYNNEX by 123.6% during the third quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock valued at $119,263,000 after buying an additional 402,573 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in TD SYNNEX during the fourth quarter valued at approximately $60,104,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.