JPMorgan Chase & Co. Boosts TD SYNNEX (NYSE:SNX) Price Target to $150.00

TD SYNNEX (NYSE:SNX) had its price target hoisted by JPMorgan Chase & Co. from $135.00 to $150.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 13.44% from the stock’s previous close.

A number of other analysts also recently commented on SNX. Royal Bank of Canada reiterated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday, January 7th. Barclays boosted their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Loop Capital reissued a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $144.38.

TD SYNNEX Price Performance

NYSE SNX traded down $1.78 on Monday, reaching $132.23. 489,563 shares of the stock traded hands, compared to its average volume of 698,955. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm’s fifty day simple moving average is $120.14 and its 200 day simple moving average is $117.90. TD SYNNEX has a 12 month low of $98.70 and a 12 month high of $134.48. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.14 and a beta of 1.46.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 1,510 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now owns 48,362 shares in the company, valued at approximately $5,858,089.06. This trade represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David R. Vetter sold 20,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $123.14, for a total value of $2,462,800.00. Following the transaction, the insider now directly owns 66,381 shares of the company’s stock, valued at $8,174,156.34. The trade was a 23.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,876 shares of company stock worth $8,196,529. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Large investors have recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX in the 3rd quarter worth approximately $30,000. UMB Bank n.a. raised its holdings in TD SYNNEX by 99.3% in the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in TD SYNNEX during the third quarter valued at $37,000. Ashton Thomas Private Wealth LLC purchased a new stake in TD SYNNEX in the second quarter worth about $52,000. Finally, Point72 DIFC Ltd bought a new position in shares of TD SYNNEX during the third quarter valued at approximately $55,000. 84.00% of the stock is owned by hedge funds and other institutional investors.

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.