TD SYNNEX (NYSE:SNX) Upgraded to “Buy” at UBS Group

UBS Group upgraded shares of TD SYNNEX (NYSE:SNX) from a neutral rating to a buy rating in a research report released on Tuesday morning, MarketBeat reports. UBS Group currently has $145.00 price target on the business services provider’s stock, up from their previous price target of $115.00.

A number of other brokerages also recently commented on SNX. StockNews.com upgraded TD SYNNEX from a hold rating to a buy rating in a research report on Thursday, December 21st. Barclays upped their target price on TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a report on Wednesday, March 27th. Bank of America increased their price target on TD SYNNEX from $120.00 to $140.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. Royal Bank of Canada restated a sector perform rating and set a $118.00 price objective (up previously from $110.00) on shares of TD SYNNEX in a report on Wednesday, March 27th. Finally, Cfra raised their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a hold rating in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $121.82.

TD SYNNEX Stock Up 1.1 %

NYSE SNX opened at $112.97 on Tuesday. TD SYNNEX has a 12 month low of $86.30 and a 12 month high of $119.87. The company has a market capitalization of $10.07 billion, a P/E ratio of 16.40, a PEG ratio of 1.07 and a beta of 1.64. The company’s 50 day simple moving average is $106.73 and its 200 day simple moving average is $102.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Thursday, April 11th. TD SYNNEX’s payout ratio is presently 23.22%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, insider Michael Urban sold 5,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $105.00, for a total value of $525,000.00. Following the transaction, the insider now directly owns 26,386 shares of the company’s stock, valued at approximately $2,770,530. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Michael Urban sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $105.00, for a total transaction of $525,000.00. Following the transaction, the insider now owns 26,386 shares of the company’s stock, valued at $2,770,530. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the completion of the sale, the chief executive officer now directly owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,355 shares of company stock worth $4,930,385. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Several institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of TD SYNNEX by 9.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,571 shares of the business services provider’s stock worth $743,000 after acquiring an additional 548 shares in the last quarter. Atlas Capital Advisors LLC lifted its holdings in TD SYNNEX by 17.3% in the 1st quarter. Atlas Capital Advisors LLC now owns 2,769 shares of the business services provider’s stock worth $313,000 after purchasing an additional 408 shares during the last quarter. BTC Capital Management Inc. bought a new stake in TD SYNNEX during the first quarter worth approximately $238,000. Alaska Permanent Fund Corp grew its holdings in TD SYNNEX by 1.3% during the first quarter. Alaska Permanent Fund Corp now owns 25,325 shares of the business services provider’s stock valued at $2,864,000 after purchasing an additional 315 shares during the last quarter. Finally, Rise Advisors LLC bought a new position in shares of TD SYNNEX in the first quarter valued at approximately $32,000. 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.