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

TD SYNNEX (NYSE:SNX - Get Free Report) had its target price decreased by investment analysts at The Goldman Sachs Group from $154.00 to $137.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the business services provider's stock. The Goldman Sachs Group's price target indicates a potential upside of 32.27% from the company's current price.

SNX has been the topic of several other reports. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Barrington Research restated an "outperform" rating and set a $156.00 price objective on shares of TD SYNNEX in a research report on Friday. Barclays reduced their target price on 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. lowered their price target on TD SYNNEX from $150.00 to $125.00 and set a "neutral" rating for the company in a report on Friday. Finally, Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and raised their price objective for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $140.00.

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TD SYNNEX Stock Performance

TD SYNNEX stock traded down $0.39 during midday trading on Friday, hitting $103.58. The company's stock had a trading volume of 550,185 shares, compared to its average volume of 760,032. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.76. TD SYNNEX has a 1-year low of $98.00 and a 1-year high of $145.10. The company has a 50-day moving average price of $135.01 and a two-hundred day moving average price of $125.70. The company has a market cap of $8.74 billion, a price-to-earnings ratio of 13.01, a PEG ratio of 1.06 and a beta of 1.51.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts' consensus estimates of $2.87 by ($0.07). The company had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. TD SYNNEX's revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $2.99 EPS. As a group, sell-side analysts predict that TD SYNNEX will post 11.88 earnings per share for the current year.

Insider Activity at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the transaction, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,353,261 in the last quarter. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC increased its position in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the period. Bessemer Group Inc. increased its position in shares of TD SYNNEX by 174.7% during the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider's stock worth $28,000 after buying an additional 152 shares during the period. UMB Bank n.a. raised its stake in TD SYNNEX by 48.4% during the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock worth $50,000 after buying an additional 140 shares during the last quarter. Point72 DIFC Ltd acquired a new position in TD SYNNEX in the third quarter valued at $55,000. Finally, Blue Trust Inc. boosted its position in TD SYNNEX by 37.7% during the fourth quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock valued at $55,000 after acquiring an additional 129 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

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.