TD SYNNEX (NYSE:SNX) PT Raised to $130.00

TD SYNNEX (NYSE:SNX – Get Rating) had its price objective lifted by research analysts at Barrington Research from $98.00 to $130.00 in a research note issued to investors on Wednesday, The Fly reports. The firm presently has an “outperform” rating on the business services provider’s stock. Barrington Research’s price target would suggest a potential upside of 18.80% from the stock’s current price.

A number of other brokerages have also recently weighed in on SNX. Credit Suisse Group boosted their price target on TD SYNNEX from $103.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday. Cfra dropped their price objective on TD SYNNEX from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, September 27th. TheStreet lowered TD SYNNEX from a “b-” rating to a “c+” rating in a research note on Friday, September 23rd. Royal Bank of Canada assumed coverage on TD SYNNEX in a research note on Tuesday, October 4th. They issued a “sector perform” rating and a $95.00 price objective on the stock. Finally, Raymond James dropped their price objective on TD SYNNEX from $175.00 to $140.00 in a research note on Wednesday, September 28th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.63.

TD SYNNEX Price Performance

Shares of NYSE:SNX opened at $109.43 on Wednesday. TD SYNNEX has a fifty-two week low of $78.86 and a fifty-two week high of $115.14. The business has a 50-day moving average of $98.45 and a two-hundred day moving average of $95.01. The stock has a market capitalization of $10.46 billion, a P/E ratio of 19.16, a P/E/G ratio of 0.88 and a beta of 1.58. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 0.64.

Insider Transactions at TD SYNNEX

In other news, CFO Marshall Witt sold 612 shares of the business’s stock in a transaction that occurred on Thursday, October 20th. The stock was sold at an average price of $85.87, for a total value of $52,552.44. Following the transaction, the chief financial officer now directly owns 52,398 shares of the company’s stock, valued at approximately $4,499,416.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Dennis Polk sold 8,000 shares of the company’s stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $90.00, for a total value of $720,000.00. Following the completion of the sale, the insider now owns 155,148 shares in the company, valued at approximately $13,963,320. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Marshall Witt sold 612 shares of the company’s stock in a transaction on Thursday, October 20th. The shares were sold at an average price of $85.87, for a total transaction of $52,552.44. Following the completion of the sale, the chief financial officer now owns 52,398 shares of the company’s stock, valued at approximately $4,499,416.26. The disclosure for this sale can be found here. Insiders have sold 27,933 shares of company stock valued at $2,660,424 in the last three months. 1.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TD SYNNEX

A number of large investors have recently modified their holdings of the business. River Road Asset Management LLC lifted its position in TD SYNNEX by 8,059.6% during the second quarter. River Road Asset Management LLC now owns 1,379,617 shares of the business services provider’s stock worth $125,683,000 after acquiring an additional 1,362,709 shares during the last quarter. FMR LLC grew its stake in shares of TD SYNNEX by 7.6% during the second quarter. FMR LLC now owns 6,110,250 shares of the business services provider’s stock worth $556,644,000 after buying an additional 432,189 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of TD SYNNEX by 189.2% during the second quarter. Millennium Management LLC now owns 351,567 shares of the business services provider’s stock worth $32,028,000 after purchasing an additional 229,997 shares during the period. BlackRock Inc. lifted its holdings in shares of TD SYNNEX by 6.0% during the third quarter. BlackRock Inc. now owns 3,732,192 shares of the business services provider’s stock worth $303,018,000 after purchasing an additional 211,608 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of TD SYNNEX by 18.0% during the second quarter. Nordea Investment Management AB now owns 1,351,256 shares of the business services provider’s stock worth $121,410,000 after purchasing an additional 205,708 shares during the period. 84.70% of the stock is currently owned by institutional investors and hedge funds.

TD SYNNEX Company Profile

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TD SYNNEX Corporation provides business process services in the United States and internationally. The company distributes PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, consumer electronics, information technology (IT) systems including data center server and storage solutions, system components, software, networking, communications and security equipment, consumer electronics, and complementary products.