The Goldman Sachs Group Lowers TD SYNNEX (NYSE:SNX) Price Target to $137.00

TD SYNNEX (NYSE:SNX) had its target price cut by The Goldman Sachs Group from $154.00 to $137.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 30.82% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Barclays cut their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $150.00 to $125.00 and set a “neutral” rating for the company in a report on Friday. UBS Group lowered their price target on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Royal Bank of Canada upped their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, TD SYNNEX has an average rating of “Moderate Buy” and an average target price of $141.67.

TD SYNNEX Price Performance

SNX stock traded down $2.81 on Friday, hitting $104.73. 1,001,748 shares of the company’s stock traded hands, compared to its average volume of 770,056. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 13.22, a P/E/G ratio of 1.06 and a beta of 1.51. TD SYNNEX has a 1-year low of $98.00 and a 1-year high of $145.10. The stock has a fifty day moving average of $136.32 and a 200-day moving average of $125.58.

TD SYNNEX (NYSE:SNX) last released 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 return on equity of 11.91% and a net margin of 1.18%. The company had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same period in the prior year, the business earned $2.99 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, analysts forecast that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Buying and Selling

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the sale, the director now directly owns 4,856 shares of the company’s stock, valued at $660,804.48. This represents a 14.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the transaction, the chief financial officer now owns 49,843 shares in the company, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,172 shares of company stock valued at $6,353,261. Insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Several institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its position in TD SYNNEX by 11.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,008 shares of the business services provider’s stock worth $822,000 after purchasing an additional 708 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of TD SYNNEX during the 4th quarter worth about $6,167,000. Forum Financial Management LP lifted its holdings in shares of TD SYNNEX by 10.0% during the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock worth $295,000 after acquiring an additional 229 shares during the period. Vise Technologies Inc. acquired a new stake in shares of TD SYNNEX during the 4th quarter valued at about $276,000. Finally, CSS LLC IL increased its stake in TD SYNNEX by 11.7% in the fourth quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock valued at $1,395,000 after acquiring an additional 1,250 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.