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

TD SYNNEX (NYSE:SNX) had its target price reduced by JPMorgan Chase & Co. from $125.00 to $120.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other research analysts also recently weighed in on SNX. Cfra reduced their target price on TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a research note on Friday, March 28th. UBS Group reduced their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research 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 report on Friday, March 28th. The Goldman Sachs Group reduced their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, TD SYNNEX presently has an average rating of “Moderate Buy” and a consensus price target of $137.22.

TD SYNNEX Stock Performance

Shares of NYSE SNX opened at $101.83 on Friday. TD SYNNEX has a 1 year low of $92.23 and a 1 year high of $145.10. 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 company’s fifty day moving average price is $126.24 and its 200 day moving average price is $124.42. The company has a market capitalization of $8.59 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 1.06 and a beta of 1.36.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, March 27th. The business services provider reported $2.80 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.07). The business had revenue of $14.53 billion for 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%. TD SYNNEX’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $2.99 earnings per share. On average, research analysts predict that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.44 dividend. The ex-dividend date is Friday, April 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.73%. TD SYNNEX’s dividend payout ratio is presently 21.97%.

Insider Buying and Selling

In related news, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $136.08, for a total transaction of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,172 shares of company stock worth $4,000,861. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Merit Financial Group LLC purchased a new position in shares of TD SYNNEX during the 1st quarter worth $215,000. NBC Securities Inc. increased its position in shares of TD SYNNEX by 137,750.0% during the first quarter. NBC Securities Inc. now owns 2,757 shares of the business services provider’s stock valued at $286,000 after acquiring an additional 2,755 shares during the last quarter. Lind Value II ApS raised its stake in shares of TD SYNNEX by 17.6% in the 1st quarter. Lind Value II ApS now owns 708,645 shares of the business services provider’s stock valued at $73,671,000 after acquiring an additional 106,157 shares during the period. GAMMA Investing LLC lifted its holdings in shares of TD SYNNEX by 12,044.9% in the 1st quarter. GAMMA Investing LLC now owns 77,970 shares of the business services provider’s stock worth $8,106,000 after acquiring an additional 77,328 shares during the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of TD SYNNEX by 115.1% during the 1st quarter. Versant Capital Management Inc now owns 342 shares of the business services provider’s stock worth $36,000 after purchasing an additional 183 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.