TD SYNNEX (NYSE:SNX) PT Raised to $132.00

TD SYNNEX (NYSE:SNX) had its target price hoisted by investment analysts at Barclays from $131.00 to $132.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Barclays‘s price objective suggests a potential upside of 10.30% from the stock’s previous close.

SNX has been the topic of several other research reports. Bank of America dropped their target price on shares of TD SYNNEX from $135.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Barrington Research reiterated an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. JPMorgan Chase & Co. reduced their target price on TD SYNNEX from $126.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. StockNews.com raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, UBS Group lifted their price objective on TD SYNNEX from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $132.57.

TD SYNNEX Trading Up 0.8 %

Shares of NYSE SNX opened at $119.67 on Friday. TD SYNNEX has a 1 year low of $89.73 and a 1 year high of $133.85. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 0.78. The firm has a 50-day moving average of $116.22 and a 200 day moving average of $117.97. The stock has a market cap of $10.23 billion, a P/E ratio of 16.76, a price-to-earnings-growth ratio of 1.18 and a beta of 1.49.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, September 26th. The business services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.80 by $0.06. TD SYNNEX had a return on equity of 12.32% and a net margin of 1.14%. The firm had revenue of $14.68 billion for the quarter, compared to analysts’ expectations of $14.11 billion. During the same period in the previous year, the firm posted $2.71 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that TD SYNNEX will post 11.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Patrick Zammit sold 3,513 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $113.28, for a total value of $397,952.64. Following the completion of the sale, the chief operating officer now directly owns 140,205 shares in the company, valued at approximately $15,882,422.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other TD SYNNEX news, COO Patrick Zammit sold 3,513 shares of TD SYNNEX stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $113.28, for a total transaction of $397,952.64. Following the transaction, the chief operating officer now owns 140,205 shares of the company’s stock, valued at $15,882,422.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 11,441 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.14, for a total transaction of $1,260,111.74. Following the completion of the sale, the chief financial officer now directly owns 45,115 shares of the company’s stock, valued at $4,968,966.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,188 shares of company stock valued at $1,685,455. 1.90% of the stock is owned by insiders.

Hedge Funds Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new position in TD SYNNEX during the second quarter valued at approximately $2,008,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of TD SYNNEX by 60.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 26,594 shares of the business services provider’s stock valued at $3,069,000 after acquiring an additional 10,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of TD SYNNEX by 3.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after purchasing an additional 90 shares in the last quarter. Creative Planning increased its position in TD SYNNEX by 21.3% in the second quarter. Creative Planning now owns 8,614 shares of the business services provider’s stock worth $994,000 after purchasing an additional 1,513 shares during the last quarter. Finally, Algert Global LLC raised its stake in TD SYNNEX by 319.8% during the second quarter. Algert Global LLC now owns 10,159 shares of the business services provider’s stock valued at $1,172,000 after purchasing an additional 7,739 shares in the last quarter. 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.