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

TD SYNNEX (NYSE:SNX - Get Free Report) had its price target lowered by investment analysts at JPMorgan Chase & Co. from $125.00 to $120.00 in a report issued on Friday,Benzinga reports. The firm presently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 17.34% from the stock's current price.

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SNX has been the topic of a number of other research reports. UBS Group reduced their target price on TD SYNNEX from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. The Goldman Sachs Group decreased their price objective on shares of TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. Barclays dropped their target price 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. Cfra decreased their price target on shares of TD SYNNEX from $147.00 to $132.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Royal Bank of Canada dropped 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $137.22.

View Our Latest Analysis on SNX

TD SYNNEX Trading Up 0.8 %

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SNX stock traded up $0.86 during mid-day trading on Friday, reaching $102.27. 576,533 shares of the stock traded hands, compared to its average volume of 911,544. TD SYNNEX has a one year low of $92.23 and a one year high of $145.10. The stock has a market capitalization of $8.63 billion, a PE ratio of 12.85, a PEG ratio of 1.06 and a beta of 1.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The business has a 50-day moving average price of $127.01 and a two-hundred day moving average price of $124.53.

TD SYNNEX (NYSE:SNX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $14.53 billion during the quarter, compared to analysts' expectations of $14.79 billion. TD SYNNEX had a return on equity of 11.91% and a net margin of 1.18%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the company earned $2.99 earnings per share. Equities research analysts expect that TD SYNNEX will post 11.88 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of TD SYNNEX

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

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