JPMorgan Chase & Co. Lowers TD SYNNEX (NYSE:SNX) Price Target to $123.00

TD SYNNEX (NYSE:SNX) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $126.00 to $123.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.46% from the stock’s previous close.

A number of other analysts also recently issued reports on SNX. Bank of America raised their target price on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, April 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $135.00 target price on shares of TD SYNNEX in a research note on Wednesday. Cfra raised their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research note on Tuesday, March 26th. Barclays raised their target price on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 27th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.82.

TD SYNNEX Stock Down 0.5 %

NYSE SNX opened at $115.54 on Wednesday. The business has a fifty day moving average price of $124.68 and a 200 day moving average price of $112.51. TD SYNNEX has a one year low of $89.73 and a one year high of $133.85. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. The company has a market cap of $10.29 billion, a P/E ratio of 16.18, a P/E/G ratio of 1.13 and a beta of 1.55.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 EPS for the quarter, beating the consensus estimate of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.22% and a net margin of 1.14%. The firm had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. Research analysts anticipate that TD SYNNEX will post 11.38 EPS for the current fiscal year.

Insider Transactions at TD SYNNEX

In related news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the completion of the transaction, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. 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 the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total value of $1,157,900.00. Following the transaction, the chief executive officer now owns 219,363 shares of the company’s stock, valued at $25,400,041.77. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Diversified Trust Co boosted its stake in shares of TD SYNNEX by 15.9% in the 4th quarter. Diversified Trust Co now owns 2,989 shares of the business services provider’s stock valued at $322,000 after buying an additional 409 shares during the period. Norges Bank purchased a new position in shares of TD SYNNEX in the 4th quarter valued at about $79,506,000. Principal Financial Group Inc. boosted its stake in shares of TD SYNNEX by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 733,239 shares of the business services provider’s stock valued at $78,904,000 after buying an additional 13,730 shares during the period. Raymond James Trust N.A. boosted its stake in shares of TD SYNNEX by 9.0% in the 4th quarter. Raymond James Trust N.A. now owns 3,613 shares of the business services provider’s stock valued at $389,000 after buying an additional 297 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of TD SYNNEX by 8.5% in the 4th quarter. New York State Common Retirement Fund now owns 140,371 shares of the business services provider’s stock valued at $15,105,000 after buying an additional 10,947 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.