TD SYNNEX (NYSE:SNX) PT Raised to $118.00

TD SYNNEX (NYSE:SNX) had its target price raised by investment analysts at Barclays from $111.00 to $118.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price target suggests a potential upside of 4.37% from the company’s previous close.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. lowered TD SYNNEX from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $112.00 to $113.00 in a research report on Monday, January 8th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Royal Bank of Canada upped their target price on TD SYNNEX from $97.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 10th. Finally, Cfra upped their target price on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, TD SYNNEX has a consensus rating of “Moderate Buy” and a consensus price target of $116.00.

TD SYNNEX Price Performance

Shares of SNX opened at $113.06 on Wednesday. TD SYNNEX has a 52-week low of $86.30 and a 52-week high of $116.05. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.77 and a current ratio of 1.22. The business’s 50 day moving average price is $103.60 and its two-hundred day moving average price is $101.02. The firm has a market cap of $10.07 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.07 and a beta of 1.63.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, January 9th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.56 by $0.57. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The firm had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.54 billion. During the same period in the previous year, the firm earned $3.30 earnings per share. The company’s revenue was down 11.3% compared to the same quarter last year. On average, equities analysts anticipate that TD SYNNEX will post 11.17 EPS for the current year.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $105.57, for a total value of $1,055,700.00. Following the completion of the transaction, the chief executive officer now owns 229,363 shares in the company, valued at approximately $24,213,851.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Urban sold 4,355 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $107.00, for a total value of $465,985.00. Following the transaction, the insider now owns 20,270 shares of the company’s stock, valued at approximately $2,168,890. The disclosure for this sale can be found here. Insiders sold 2,289,905 shares of company stock worth $232,556,362 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Institutional Trading of TD SYNNEX

Several institutional investors and hedge funds have recently modified their holdings of the business. Pineridge Advisors LLC bought a new position in TD SYNNEX during the 4th quarter worth approximately $33,000. Nomura Asset Management Co. Ltd. grew its position in shares of TD SYNNEX by 95.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 410 shares of the business services provider’s stock worth $40,000 after buying an additional 200 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in shares of TD SYNNEX in the 1st quarter worth approximately $51,000. Covestor Ltd lifted its stake in shares of TD SYNNEX by 91.5% in the 1st quarter. Covestor Ltd now owns 697 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 333 shares during the period. Finally, Gladius Capital Management LP lifted its stake in shares of TD SYNNEX by 50.8% in the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $75,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors 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.