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TD SYNNEX (NYSE:SNX) Downgraded by StockNews.com to Hold

TD SYNNEX logo with Computer and Technology background

StockNews.com cut shares of TD SYNNEX (NYSE:SNX - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other equities analysts also recently commented on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $140.00 price target on shares of TD SYNNEX in a research note on Friday, September 27th. Loop Capital reaffirmed a "buy" rating and issued a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Barclays raised their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an "equal weight" rating in a research report on Friday, September 27th. Finally, Barrington Research reiterated an "outperform" rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $134.75.

Get Our Latest Analysis on TD SYNNEX

TD SYNNEX Trading Down 3.0 %

SNX traded down $3.59 during trading on Wednesday, hitting $116.49. The company's stock had a trading volume of 647,536 shares, compared to its average volume of 764,733. The firm's 50 day moving average price is $120.27 and its 200-day moving average price is $119.05. TD SYNNEX has a twelve month low of $98.70 and a twelve month high of $133.85. The stock has a market cap of $9.91 billion, a PE ratio of 15.07, a PEG ratio of 1.14 and a beta of 1.47. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.06. TD SYNNEX had a net margin of 1.20% and a return on equity of 12.15%. The company had revenue of $14.68 billion during the quarter, compared to the consensus estimate of $14.11 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. TD SYNNEX's revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts expect that TD SYNNEX will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date was Friday, October 11th. TD SYNNEX's dividend payout ratio is presently 20.70%.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CFO Marshall Witt sold 5,653 shares of TD SYNNEX stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.15, for a total transaction of $684,860.95. Following the completion of the transaction, the chief financial officer now directly owns 38,279 shares of the company's stock, valued at $4,637,500.85. The trade was a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Simon Leung sold 6,249 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the completion of the transaction, the insider now directly owns 23,339 shares in the company, valued at $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,645 shares of company stock valued at $8,415,189. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of TD SYNNEX

Institutional investors have recently bought and sold shares of the business. FMR LLC boosted its position in shares of TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider's stock worth $891,665,000 after acquiring an additional 1,154,651 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of TD SYNNEX by 58.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider's stock worth $313,469,000 after buying an additional 1,006,569 shares during the last quarter. Dimensional Fund Advisors LP grew its position in TD SYNNEX by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider's stock valued at $258,482,000 after acquiring an additional 177,460 shares during the last quarter. State Street Corp raised its stake in TD SYNNEX by 0.7% during the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider's stock worth $262,943,000 after acquiring an additional 15,995 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of TD SYNNEX by 21.1% in the second quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider's stock worth $178,421,000 after acquiring an additional 269,759 shares during the last quarter. Institutional investors own 84.00% of the company's stock.

TD SYNNEX Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for TD SYNNEX (NYSE:SNX)

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