UBS Group Cuts TD SYNNEX (NYSE:SNX) Price Target to $138.00

TD SYNNEX (NYSE:SNX - Free Report) had its price target reduced by UBS Group from $150.00 to $138.00 in a research report released on Friday,Benzinga reports. UBS Group currently has a buy rating on the business services provider's stock.

A number of other equities analysts have also recently issued reports on the company. Royal Bank of Canada upped their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a report on Friday, February 21st. JPMorgan Chase & Co. cut their target price on TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating for the company in a research note on Friday. Barclays lifted their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. Barrington Research reaffirmed an "outperform" rating and issued a $156.00 price objective on shares of TD SYNNEX in a research note on Friday. Finally, StockNews.com cut shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.00.

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TD SYNNEX Price Performance

Shares of NYSE:SNX traded down $0.25 on Friday, hitting $103.72. The company's stock had a trading volume of 490,951 shares, compared to its average volume of 759,809. The company has a market capitalization of $8.75 billion, a PE ratio of 13.02, a PEG ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company has a 50-day simple moving average of $135.01 and a 200 day simple moving average of $125.70. TD SYNNEX has a 1 year low of $98.00 and a 1 year high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The company had revenue of $14.53 billion for the quarter, compared to analysts' expectations of $14.79 billion. During the same quarter last year, the business posted $2.99 EPS. The business's quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts forecast that TD SYNNEX will post 11.88 EPS for the current fiscal year.

TD SYNNEX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 11th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Friday, April 11th. TD SYNNEX's dividend payout ratio (DPR) is presently 22.11%.

Insider Activity

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the sale, the director now directly owns 111,080 shares of the company's stock, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company's stock, valued at $23,681,372. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,172 shares of company stock valued at $6,353,261. Insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of TD SYNNEX during the 4th quarter valued at $121,199,000. Ninety One UK Ltd boosted its stake in TD SYNNEX by 75.4% during the fourth quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider's stock worth $277,316,000 after acquiring an additional 1,016,251 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in TD SYNNEX by 343.2% in the fourth quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider's stock worth $141,913,000 after purchasing an additional 937,040 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider's stock valued at $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of TD SYNNEX by 46.9% in the 4th quarter. LSV Asset Management now owns 1,715,847 shares of the business services provider's stock worth $201,235,000 after buying an additional 547,692 shares during the last quarter. 84.00% of the stock is owned by hedge funds and other institutional investors.

TD SYNNEX Company Profile

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.