TD SYNNEX (NYSE:SNX) PT Lowered to $123.00 at JPMorgan Chase & Co.

TD SYNNEX (NYSE:SNX) had its price target decreased by research analysts at JPMorgan Chase & Co. from $126.00 to $123.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 5.16% from the stock’s current price.

Other analysts have also issued reports about the stock. Barclays raised their price target on shares of TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. UBS Group upgraded shares of TD SYNNEX from a “neutral” rating to a “buy” rating and lifted their target price for the company from $115.00 to $145.00 in a research report on Tuesday, April 16th. Barrington Research restated an “outperform” rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Wednesday. Royal Bank of Canada restated a “sector perform” rating and issued a $135.00 price target on shares of TD SYNNEX in a research report on Wednesday. Finally, Cfra upped their target price on shares of TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday, March 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.09.

TD SYNNEX Price Performance

Shares of TD SYNNEX stock traded up $0.01 on Wednesday, hitting $116.97. The company had a trading volume of 135,254 shares, compared to its average volume of 887,656. TD SYNNEX has a 52 week low of $87.68 and a 52 week high of $133.85. The company has a market cap of $10.42 billion, a PE ratio of 16.38, a PEG ratio of 1.13 and a beta of 1.55. The business has a 50-day simple moving average of $124.62 and a 200-day simple moving average of $112.46. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.75.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results 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 net margin of 1.14% and a return on equity of 12.22%. The business had revenue of $13.98 billion during the quarter, compared to the consensus estimate of $14.37 billion. Research analysts expect that TD SYNNEX will post 11.38 EPS for the current fiscal year.

Insider Buying and Selling at TD SYNNEX

In other news, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Richard T. Hume sold 10,000 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the sale, the chief executive officer now directly owns 219,363 shares in the company, valued at approximately $25,400,041.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 134,706 shares of the company’s stock, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently bought and sold shares of the company. Diversified Trust Co increased its position in shares of TD SYNNEX by 15.9% during the fourth 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 bought a new stake in shares of TD SYNNEX during the fourth quarter valued at about $79,506,000. Principal Financial Group Inc. increased its position in shares of TD SYNNEX by 1.9% during the fourth 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. increased its position in shares of TD SYNNEX by 9.0% during the fourth 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 increased its position in shares of TD SYNNEX by 8.5% during the fourth 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. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.