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

TD SYNNEX (NYSE:SNX - Get Free Report) had its target price reduced by equities researchers at JPMorgan Chase & Co. from $125.00 to $120.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the business services provider's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 14.74% from the stock's current price.

Several other brokerages have also recently weighed in on SNX. The Goldman Sachs Group decreased their price objective on TD SYNNEX from $154.00 to $137.00 and set a "buy" rating for the company in a report on Friday, March 28th. UBS Group decreased their target price on shares of TD SYNNEX from $150.00 to $138.00 and set a "buy" rating for the company in a research note on Friday, March 28th. StockNews.com lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Royal Bank of Canada decreased their price objective on shares of TD SYNNEX from $165.00 to $145.00 and set an "outperform" rating for the company in a research report on Friday, April 11th. Finally, 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 report on Friday, March 28th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and an average price target of $137.22.

TD SYNNEX Stock Up 1.4 %

SNX traded up $1.41 during trading on Friday, reaching $104.58. The company had a trading volume of 1,120,006 shares, compared to its average volume of 752,628. The business's fifty day moving average price is $123.89 and its 200 day moving average price is $124.06. 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 12 month low of $92.23 and a 12 month high of $145.10. The company has a market cap of $8.78 billion, a P/E ratio of 13.14, a PEG ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX - Get Free Report) last released its quarterly earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.07). The firm had revenue of $14.53 billion during the quarter, compared to analyst estimates of $14.79 billion. TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.99 EPS. Equities analysts anticipate that TD SYNNEX will post 11.88 EPS for the current year.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $135.88, for a total transaction of $2,717,600.00. Following the transaction, the director now directly owns 65,480 shares of the company's stock, valued at approximately $8,897,422.40. This trade represents a 23.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the sale, the chief financial officer now directly owns 49,843 shares of the company's stock, valued at $6,383,891.44. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,172 shares of company stock worth $4,000,861. Company insiders own 1.00% of the company's stock.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors have recently made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC lifted its position in shares of 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 acquiring an additional 176 shares during the period. Bessemer Group Inc. lifted its position in 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 purchasing an additional 152 shares during the period. Versant Capital Management Inc grew its stake in TD SYNNEX by 115.1% during the first quarter. Versant Capital Management Inc now owns 342 shares of the business services provider's stock worth $36,000 after buying an additional 183 shares in the last quarter. UMB Bank n.a. raised its position in shares of TD SYNNEX by 48.4% in the 4th quarter. UMB Bank n.a. now owns 429 shares of the business services provider's stock valued at $50,000 after buying an additional 140 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of TD SYNNEX by 37.7% during the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider's stock worth $55,000 after acquiring an additional 129 shares during the period. 84.00% of the stock is currently owned by institutional investors.

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.