JPMorgan Chase & Co. Lowers TD SYNNEX (NYSE:SNX) Price Target to $125.00

TD SYNNEX (NYSE:SNX - Get Free Report) had its price target decreased by investment analysts at JPMorgan Chase & Co. from $150.00 to $125.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 20.52% from the stock's previous close.

A number of other research analysts also recently issued reports on the stock. Royal Bank of Canada raised their price target on shares of TD SYNNEX from $140.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, February 21st. StockNews.com lowered TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and raised their price target for the stock from $122.00 to $147.00 in a report on Friday, January 10th. Barrington Research restated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research note on Friday. Finally, Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

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TD SYNNEX Stock Down 0.2 %

NYSE:SNX traded down $0.25 during mid-day trading on Friday, reaching $103.72. The stock had a trading volume of 490,951 shares, compared to its average volume of 759,809. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. The company has a market capitalization of $8.75 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth 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's 50 day simple moving average is $135.01 and its two-hundred day simple moving average is $125.70.

TD SYNNEX (NYSE:SNX - Get Free Report) last issued its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS 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 firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. During the same quarter in the previous year, the business posted $2.99 EPS. TD SYNNEX's revenue was up 4.0% compared to the same quarter last year. Equities analysts anticipate that TD SYNNEX will post 11.88 EPS for the current year.

Insider Transactions at TD SYNNEX

In other TD SYNNEX 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, the director now owns 111,080 shares of the company's stock, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,172 shares of company stock valued at $6,353,261. Corporate insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently modified their holdings of SNX. Wealth Enhancement Advisory Services LLC increased its stake in TD SYNNEX by 11.2% in the 4th 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of TD SYNNEX in the fourth quarter worth approximately $6,167,000. Forum Financial Management LP raised its holdings in shares of TD SYNNEX by 10.0% during the fourth quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider's stock valued at $295,000 after acquiring an additional 229 shares during the period. Vise Technologies Inc. acquired a new position in TD SYNNEX in the 4th quarter worth approximately $276,000. Finally, CSS LLC IL grew its position in TD SYNNEX by 11.7% during the 4th quarter. CSS LLC IL now owns 11,896 shares of the business services provider's stock worth $1,395,000 after purchasing an additional 1,250 shares in the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

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.