TD SYNNEX (NYSE:SNX) Shares Gap Up to $111.70

TD SYNNEX Co. (NYSE:SNX)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $111.70, but opened at $114.87. TD SYNNEX shares last traded at $115.29, with a volume of 196,908 shares traded.

Analyst Ratings Changes

SNX has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $118.00 target price (up from $110.00) on shares of TD SYNNEX in a research report on Wednesday, March 27th. Barrington Research raised their target price on shares of TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. JPMorgan Chase & Co. raised their target price on shares of TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. UBS Group raised shares of TD SYNNEX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $115.00 to $145.00 in a research report on Tuesday. Finally, StockNews.com raised shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.82.

TD SYNNEX Stock Performance

The company has a market capitalization of $10.24 billion, a PE ratio of 16.68, a PEG ratio of 1.06 and a beta of 1.64. The business’s 50-day moving average is $107.05 and its 200-day moving average is $102.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22.

TD SYNNEX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $1.60 annualized dividend and a yield of 1.39%. TD SYNNEX’s dividend payout ratio (DPR) is presently 23.22%.

Insiders Place Their Bets

In other TD SYNNEX news, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $104.34, for a total value of $521,700.00. Following the completion of the transaction, the insider now directly owns 31,386 shares of the company’s stock, valued at $3,274,815.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Michael Urban sold 5,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $104.34, for a total value of $521,700.00. Following the completion of the sale, the insider now directly owns 31,386 shares in the company, valued at $3,274,815.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX 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 owns 229,363 shares of the company’s stock, valued at $24,213,851.91. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,355 shares of company stock valued at $4,930,385. Insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Large investors have recently made changes to their positions in the stock. Diversified Trust Co grew its stake in shares of TD SYNNEX by 15.9% in the fourth quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock worth $322,000 after acquiring an additional 409 shares during the period. Raymond James Trust N.A. grew its stake in shares of TD SYNNEX by 9.0% in the fourth quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock worth $389,000 after acquiring an additional 297 shares during the period. Schwartz Investment Counsel Inc. grew its position in TD SYNNEX by 10.8% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 102,500 shares of the business services provider’s stock valued at $11,030,000 after buying an additional 10,000 shares during the period. Signaturefd LLC grew its position in TD SYNNEX by 28.9% during the third quarter. Signaturefd LLC now owns 954 shares of the business services provider’s stock valued at $95,000 after buying an additional 214 shares during the period. Finally, Vanguard Group Inc. grew its position in TD SYNNEX by 4.0% during the third quarter. Vanguard Group Inc. now owns 5,008,606 shares of the business services provider’s stock valued at $500,159,000 after buying an additional 193,198 shares during the period. 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.