TD SYNNEX Corporation (NYSE:SNX) Receives $197.70 Consensus Target Price from Analysts

Shares of TD SYNNEX Corporation (NYSE:SNX) have been assigned a consensus recommendation of “Buy” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $205.50.

SNX has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on TD SYNNEX from $180.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. raised TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 target price for the company in a research note on Wednesday. Wall Street Zen raised TD SYNNEX from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Barrington Research reissued an “outperform” rating and set a $182.00 target price on shares of TD SYNNEX in a research note on Friday, March 27th. Finally, Barclays boosted their target price on TD SYNNEX from $163.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 1st.

TD SYNNEX Price Performance

SNX stock opened at $247.13 on Friday. TD SYNNEX has a 12-month low of $118.35 and a 12-month high of $250.96. The company has a market capitalization of $19.87 billion, a PE ratio of 20.54, a P/E/G ratio of 1.05 and a beta of 1.40. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41. The business’s fifty day moving average price is $206.51 and its 200 day moving average price is $173.04.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping the consensus estimate of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm had revenue of $17.16 billion during the quarter, compared to analysts’ expectations of $15.59 billion. During the same period in the previous year, the firm posted $2.80 EPS. TD SYNNEX’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, sell-side analysts anticipate 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. Investors of record on Wednesday, April 15th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, April 15th. TD SYNNEX’s payout ratio is presently 15.96%.

Insiders Place Their Bets

In other news, insider Miriam Anne Murphy sold 3,025 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $200.14, for a total transaction of $605,423.50. Following the completion of the transaction, the insider directly owned 10,820 shares of the company’s stock, valued at approximately $2,165,514.80. This represents a 21.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Merline Saintil sold 167 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $157.75, for a total value 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 represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 16,417 shares of company stock valued at $3,559,726. 0.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of TD SYNNEX by 9.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock worth $1,749,000 after acquiring an additional 1,460 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of TD SYNNEX by 5.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock worth $18,631,000 after acquiring an additional 9,815 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of TD SYNNEX by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after acquiring an additional 12,615 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of TD SYNNEX during the 2nd quarter worth about $818,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of TD SYNNEX by 17.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock worth $116,000 after acquiring an additional 126 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

About TD SYNNEX

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.