TD SYNNEX (NYSE:SNX) Price Target Lowered to $120.00 at JPMorgan Chase & Co.

TD SYNNEX (NYSE:SNX - Get Free Report) had its price objective dropped by equities researchers at JPMorgan Chase & Co. from $125.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 16.20% from the stock's previous close.

A number of other equities analysts have also commented on the company. Royal Bank of Canada cut their price objective on TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating on the stock in a research note on Friday. Barclays reduced their price objective on shares of TD SYNNEX from $148.00 to $125.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. UBS Group decreased their price target on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, The Goldman Sachs Group lowered their target price on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $137.22.

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TD SYNNEX Trading Up 0.2 %

TD SYNNEX stock traded up $0.21 during trading hours on Friday, hitting $103.27. The stock had a trading volume of 1,104,167 shares, compared to its average volume of 753,401. The stock has a market cap of $8.67 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.06 and a beta of 1.36. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. The business's 50 day simple moving average is $124.65 and its 200-day simple moving average is $124.20. TD SYNNEX has a one year low of $92.23 and a one year high of $145.10.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) 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 business had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same quarter last year, the company posted $2.99 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that TD SYNNEX will post 11.88 EPS for the current fiscal year.

Insider Activity at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of TD SYNNEX stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total value of $193,400.80. Following the sale, the chief financial officer now owns 49,843 shares of the company's stock, valued at approximately $6,383,891.44. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares of the company's stock, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors have recently added to or reduced their stakes in SNX. Kovitz Investment Group Partners LLC lifted its stake in shares of TD SYNNEX by 26.3% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 2,620 shares of the business services provider's stock valued at $304,000 after buying an additional 546 shares in the last quarter. XTX Topco Ltd bought a new position in shares of TD SYNNEX in the third quarter worth $219,000. M&T Bank Corp boosted its stake in TD SYNNEX by 13.5% in the 3rd quarter. M&T Bank Corp now owns 2,188 shares of the business services provider's stock worth $263,000 after purchasing an additional 261 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of TD SYNNEX in the third quarter valued at approximately $232,000. Finally, Tidal Investments LLC increased its holdings in TD SYNNEX by 9.3% during the 3rd quarter. Tidal Investments LLC now owns 17,121 shares of the business services provider's stock worth $2,056,000 after acquiring an additional 1,450 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.