TD SYNNEX (NYSE:SNX) Given New $182.00 Price Target at Barrington Research

TD SYNNEX (NYSE:SNX) had its target price upped by Barrington Research from $156.00 to $182.00 in a research report released on Monday morning, Marketbeat.com reports. Barrington Research currently has an outperform rating on the business services provider’s stock.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada raised their price objective on shares of TD SYNNEX from $165.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group raised their price objective on shares of TD SYNNEX from $145.00 to $164.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley raised their price target on shares of TD SYNNEX from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Friday. Loop Capital raised their price target on shares of TD SYNNEX from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, June 30th. Finally, Barclays raised their price target on shares of TD SYNNEX from $140.00 to $164.00 and gave the company an “equal weight” rating in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average target price of $169.55.

TD SYNNEX Stock Up 0.9%

TD SYNNEX stock opened at $165.91 on Monday. TD SYNNEX has a 1-year low of $92.23 and a 1-year high of $166.63. The firm has a market capitalization of $13.68 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 1.34 and a beta of 1.35. The firm’s fifty day moving average price is $148.86 and its two-hundred day moving average price is $131.06. The company has a current ratio of 1.20, a quick ratio of 0.71 and a debt-to-equity ratio of 0.36.

TD SYNNEX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 17th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, October 17th. TD SYNNEX’s dividend payout ratio (DPR) is 19.09%.

Insider Buying and Selling

In related news, insider Alim Dhanji sold 1,257 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $142.41, for a total transaction of $179,009.37. Following the completion of the sale, the insider owned 10,984 shares in the company, valued at approximately $1,564,231.44. This trade represents a 10.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Marshall Witt sold 861 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $149.84, for a total transaction of $129,012.24. Following the sale, the chief financial officer owned 49,777 shares of the company’s stock, valued at $7,458,585.68. This trade represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,930 shares of company stock worth $430,163. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several large investors have recently modified their holdings of SNX. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of TD SYNNEX by 329.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 245 shares of the business services provider’s stock worth $25,000 after purchasing an additional 188 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of TD SYNNEX by 115.1% in the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock worth $36,000 after purchasing an additional 183 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in shares of TD SYNNEX in the first quarter worth about $44,000. Quarry LP purchased a new position in shares of TD SYNNEX in the first quarter worth about $51,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of TD SYNNEX in the second 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.