TD SYNNEX (NYSE:SNX) Given New $123.00 Price Target at JPMorgan Chase & Co.

TD SYNNEX (NYSE:SNX) had its target price cut by JPMorgan Chase & Co. from $126.00 to $123.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other equities analysts have also issued reports on SNX. Barrington Research restated an outperform rating and set a $138.00 target price on shares of TD SYNNEX in a research report on Wednesday. Royal Bank of Canada reiterated a sector perform rating and issued a $135.00 price objective on shares of TD SYNNEX in a research report on Wednesday. Cfra boosted their price objective on TD SYNNEX from $110.00 to $113.00 and gave the company a hold rating in a research report on Tuesday, March 26th. Bank of America boosted their price objective on TD SYNNEX from $120.00 to $140.00 and gave the company a buy rating in a research report on Tuesday, April 2nd. Finally, Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the company an equal weight rating in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $123.55.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $116.16 on Wednesday. The firm has a market capitalization of $10.35 billion, a P/E ratio of 16.27, a PEG ratio of 1.13 and a beta of 1.55. TD SYNNEX has a 1 year low of $87.68 and a 1 year high of $133.85. The business has a 50-day moving average of $124.64 and a 200-day moving average of $112.49. The company has a current ratio of 1.22, a quick ratio of 0.75 and a debt-to-equity ratio of 0.38.

TD SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, March 26th. The business services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.12. The company had revenue of $13.98 billion during the quarter, compared to analyst estimates of $14.37 billion. TD SYNNEX had a return on equity of 12.22% and a net margin of 1.14%. On average, equities analysts anticipate that TD SYNNEX will post 11.38 EPS for the current year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, July 12th. TD SYNNEX’s dividend payout ratio (DPR) is currently 22.41%.

Insiders Place Their Bets

In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other TD SYNNEX news, CEO Richard T. Hume sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $115.79, for a total transaction of $1,157,900.00. Following the completion of the transaction, the chief executive officer now owns 219,363 shares of the company’s stock, valued at approximately $25,400,041.77. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its stake in TD SYNNEX by 3.2% in the first quarter. ProShare Advisors LLC now owns 2,784 shares of the business services provider’s stock valued at $315,000 after buying an additional 86 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in TD SYNNEX by 1.4% in the fourth quarter. SummerHaven Investment Management LLC now owns 7,499 shares of the business services provider’s stock valued at $807,000 after buying an additional 102 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in TD SYNNEX by 121.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after buying an additional 140 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in TD SYNNEX by 0.6% in the fourth quarter. Teacher Retirement System of Texas now owns 23,242 shares of the business services provider’s stock valued at $2,501,000 after buying an additional 142 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its stake in TD SYNNEX by 1.9% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 7,890 shares of the business services provider’s stock valued at $849,000 after buying an additional 146 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

TD SYNNEX Company Profile

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.