TD SYNNEX (NYSE:SNX) Price Target Increased to $120.00 by Analysts at Stifel Nicolaus

TD SYNNEX (NYSE:SNX) had its price objective boosted by analysts at Stifel Nicolaus from $110.00 to $120.00 in a research note issued on Tuesday, FlyOnTheWall reports. Stifel Nicolaus’ price objective points to a potential upside of 19.04% from the stock’s current price.

SNX has been the topic of a number of other reports. Royal Bank of Canada reduced their price target on shares of TD SYNNEX from $98.00 to $97.00 in a research report on Monday, July 10th. Credit Suisse Group decreased their price target on TD SYNNEX from $106.00 to $90.00 in a research report on Wednesday, June 28th. Loop Capital cut their price objective on TD SYNNEX from $150.00 to $120.00 in a research report on Wednesday, July 5th. Bank of America decreased their target price on TD SYNNEX from $120.00 to $115.00 in a report on Wednesday, June 28th. Finally, Barrington Research reduced their price target on shares of TD SYNNEX from $120.00 to $115.00 in a research report on Wednesday, June 28th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $109.18.

TD SYNNEX Trading Down 0.1 %

Shares of TD SYNNEX stock opened at $100.81 on Tuesday. The company’s fifty day moving average price is $99.18 and its two-hundred day moving average price is $94.64. The firm has a market capitalization of $9.45 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.15 and a beta of 1.61. TD SYNNEX has a 52-week low of $78.86 and a 52-week high of $111.57. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 0.76.

TD SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, June 27th. The business services provider reported $2.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.55 by ($0.12). TD SYNNEX had a return on equity of 13.25% and a net margin of 1.10%. The company had revenue of $14.06 billion during the quarter, compared to analyst estimates of $14.42 billion. During the same period in the previous year, the company posted $2.66 earnings per share. The company’s quarterly revenue was down 7.9% on a year-over-year basis. On average, analysts expect that TD SYNNEX will post 10.46 EPS for the current year.

Insider Buying and Selling

In other TD SYNNEX news, CFO Marshall Witt sold 1,082 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $100.37, for a total value of $108,600.34. Following the completion of the sale, the chief financial officer now owns 50,893 shares of the company’s stock, valued at approximately $5,108,130.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Marshall Witt sold 1,082 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $100.37, for a total transaction of $108,600.34. Following the sale, the chief financial officer now directly owns 50,893 shares of the company’s stock, valued at approximately $5,108,130.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Richard T. Hume sold 15,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $103.26, for a total value of $1,548,900.00. Following the completion of the transaction, the chief executive officer now directly owns 229,344 shares of the company’s stock, valued at approximately $23,682,061.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,355,766 shares of company stock valued at $222,785,736. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. lifted its position in shares of TD SYNNEX by 3.1% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 3,801 shares of the business services provider’s stock worth $369,000 after buying an additional 114 shares during the last quarter. Assetmark Inc. lifted its holdings in shares of TD SYNNEX by 6.0% in the first quarter. Assetmark Inc. now owns 2,218 shares of the business services provider’s stock worth $215,000 after acquiring an additional 126 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of TD SYNNEX by 4.3% in the 1st quarter. Captrust Financial Advisors now owns 3,202 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 133 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of TD SYNNEX by 0.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,687 shares of the business services provider’s stock valued at $1,702,000 after purchasing an additional 140 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in TD SYNNEX by 0.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 35,805 shares of the business services provider’s stock worth $3,391,000 after purchasing an additional 141 shares in the last quarter. 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.