TD SYNNEX (NYSE:SNX) Given New $125.00 Price Target at JPMorgan Chase & Co.

TD SYNNEX (NYSE:SNX) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $150.00 to $125.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 15.91% from the company’s current price.

A number of other equities analysts also recently issued reports on SNX. Royal Bank of Canada upped their price target on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Barclays upped their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price target for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Barrington Research reissued an “outperform” rating and issued a $156.00 price target on shares of TD SYNNEX in a research report on Friday. Finally, StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.63.

TD SYNNEX Price Performance

Shares of SNX opened at $107.85 on Friday. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 1.06 and a beta of 1.51. The firm’s fifty day simple moving average is $136.32 and its 200-day simple moving average is $125.58. TD SYNNEX has a twelve month low of $98.00 and a twelve month high of $145.10. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.99 earnings per share. Equities analysts forecast that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Buying and Selling at TD SYNNEX

In other news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now directly owns 49,843 shares in the company, valued at $6,383,891.44. The trade was a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock valued at $6,353,261 in the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its holdings in shares of TD SYNNEX by 0.4% in the 4th quarter. Arizona State Retirement System now owns 22,225 shares of the business services provider’s stock valued at $2,607,000 after buying an additional 78 shares during the period. Quadrant Capital Group LLC raised its position in TD SYNNEX by 9.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,068 shares of the business services provider’s stock worth $125,000 after acquiring an additional 90 shares in the last quarter. Ellevest Inc. lifted its holdings in TD SYNNEX by 3.9% in the fourth quarter. Ellevest Inc. now owns 2,384 shares of the business services provider’s stock valued at $280,000 after acquiring an additional 90 shares during the period. Utah Retirement Systems boosted its position in shares of TD SYNNEX by 2.5% during the 4th quarter. Utah Retirement Systems now owns 4,100 shares of the business services provider’s stock worth $481,000 after purchasing an additional 100 shares in the last quarter. Finally, Amundi grew its stake in shares of TD SYNNEX by 22.3% during the 4th quarter. Amundi now owns 560 shares of the business services provider’s stock worth $66,000 after purchasing an additional 102 shares during the period. Institutional investors and hedge funds 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.