Barclays assumed coverage on shares of TD SYNNEX (NYSE:SNX – Get Rating) in a report published on Wednesday, The Fly reports. The firm issued an equal weight rating and a $109.00 price target on the business services provider's stock.

Several other analysts also recently weighed in on SNX. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $117.00 to $125.00 and gave the company an overweight rating in a research note on Wednesday, January 11th. Credit Suisse Group increased their target price on TD SYNNEX from $103.00 to $109.00 and gave the company a neutral rating in a research note on Wednesday, January 11th. StockNews.com upgraded TD SYNNEX from a hold rating to a buy rating in a research note on Wednesday, January 11th. Finally, Barrington Research increased their target price on TD SYNNEX from $98.00 to $130.00 and gave the company an outperform rating in a research note on Wednesday, January 11th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $122.00.

TD SYNNEX Stock Performance

SNX opened at $101.13 on Wednesday. The company has a market cap of $9.64 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 0.93 and a beta of 1.63. The stock has a 50-day moving average of $101.50 and a 200-day moving average of $96.94. TD SYNNEX has a 52-week low of $78.86 and a 52-week high of $115.14. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.70 and a current ratio of 1.25.

TD SYNNEX (NYSE:SNX – Get Rating) last announced its earnings results on Tuesday, January 10th. The business services provider reported $3.30 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.45. TD SYNNEX had a return on equity of 14.08% and a net margin of 1.04%. The firm had revenue of $16.25 billion during the quarter, compared to the consensus estimate of $15.78 billion. As a group, equities research analysts forecast that TD SYNNEX will post 11.68 earnings per share for the current fiscal year.

TD SYNNEX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 27th. Stockholders of record on Friday, January 20th were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, January 19th. This is a boost from TD SYNNEX's previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.38%. TD SYNNEX's dividend payout ratio is presently 20.65%.

Insider Transactions at TD SYNNEX

In other news, CFO Marshall Witt sold 712 shares of the stock in a transaction that occurred on Friday, December 16th. The stock was sold at an average price of $95.58, for a total value of $68,052.96. Following the completion of the transaction, the chief financial officer now directly owns 50,893 shares of the company's stock, valued at approximately $4,864,352.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Dennis Polk sold 8,000 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $102.83, for a total value of $822,640.00. Following the completion of the transaction, the insider now directly owns 155,148 shares of the company's stock, valued at approximately $15,953,868.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Marshall Witt sold 712 shares of the firm's stock in a transaction on Friday, December 16th. The shares were sold at an average price of $95.58, for a total value of $68,052.96. Following the sale, the chief financial officer now directly owns 50,893 shares of the company's stock, valued at $4,864,352.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,193,876 shares of company stock valued at $503,935,086. Corporate insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently bought and sold shares of SNX. FMR LLC increased its holdings in TD SYNNEX by 7.6% during the 2nd quarter. FMR LLC now owns 6,110,250 shares of the business services provider's stock valued at $556,644,000 after purchasing an additional 432,189 shares in the last quarter. Norges Bank acquired a new stake in TD SYNNEX during the 4th quarter valued at $34,999,000. Millennium Management LLC boosted its position in TD SYNNEX by 189.2% in the 2nd quarter. Millennium Management LLC now owns 351,567 shares of the business services provider's stock valued at $32,028,000 after buying an additional 229,997 shares during the last quarter. BlackRock Inc. boosted its position in TD SYNNEX by 6.0% in the 3rd quarter. BlackRock Inc. now owns 3,732,192 shares of the business services provider's stock valued at $303,018,000 after buying an additional 211,608 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in TD SYNNEX by 18.0% in the 2nd quarter. Nordea Investment Management AB now owns 1,351,256 shares of the business services provider's stock valued at $121,410,000 after buying an additional 205,708 shares during the last quarter. 84.70% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Company Profile

(Get Rating)

TD SYNNEX Corp. engages in the distribution and aggregation of solutions in the information technology ecosystem. It operates through the following geographical segments: Americas, Europe, and Asia-Pacific and Japan. The firm offers IT hardware, software, and systems including personal computing devices and peripherals, mobile phones and accessories, printers, server and datacenter infrastructure, hybrid cloud, security, networking, communications and storage solutions, and system components.

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