TD SYNNEX (NYSE:SNX) Price Target Raised to $220.00 at JPMorgan Chase & Co.

TD SYNNEX (NYSE:SNX) had its price target boosted by JPMorgan Chase & Co. from $185.00 to $220.00 in a report published on Thursday,Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Other analysts also recently issued reports about the stock. Morgan Stanley boosted their target price on shares of TD SYNNEX from $172.00 to $174.00 and gave the stock an “overweight” rating in a report on Friday, March 20th. Zacks Research upgraded shares of TD SYNNEX from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Barrington Research reiterated an “outperform” rating and issued a $182.00 target price on shares of TD SYNNEX in a report on Friday, March 27th. Finally, Royal Bank Of Canada boosted their target price on shares of TD SYNNEX from $180.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.50.

TD SYNNEX Stock Up 1.5%

SNX stock opened at $208.62 on Thursday. TD SYNNEX has a 52 week low of $102.16 and a 52 week high of $210.02. The company has a market capitalization of $16.77 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 1.06 and a beta of 1.23. The firm’s 50-day moving average is $168.67 and its two-hundred day moving average is $158.99. The company has a current ratio of 1.22, a quick ratio of 0.71 and a debt-to-equity ratio of 0.41.

TD SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, March 31st. The business services provider reported $4.73 EPS for the quarter, topping analysts’ consensus estimates of $3.24 by $1.49. TD SYNNEX had a net margin of 1.52% and a return on equity of 14.03%. The business had revenue of $17.16 billion for the quarter, compared to the consensus estimate of $15.59 billion. During the same period in the previous year, the firm earned $2.80 EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.

TD SYNNEX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.48 per share. The ex-dividend date is Wednesday, April 15th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.9%. TD SYNNEX’s payout ratio is currently 15.96%.

Insider Buying and Selling at TD SYNNEX

In other news, insider Miriam Anne Murphy sold 3,025 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $200.14, for a total transaction of $605,423.50. Following the sale, the insider owned 10,820 shares in the company, valued at $2,165,514.80. The trade was a 21.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Merline Saintil sold 167 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $157.75, for a total transaction of $26,344.25. Following the sale, the director owned 6,995 shares in the company, valued at $1,103,461.25. This represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 82,165 shares of company stock valued at $13,559,368 over the last three months. 0.70% of the stock is owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

A number of large investors have recently made changes to their positions in SNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in TD SYNNEX by 9.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,820 shares of the business services provider’s stock valued at $1,749,000 after buying an additional 1,460 shares during the period. Goldman Sachs Group Inc. increased its stake in TD SYNNEX by 5.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 179,210 shares of the business services provider’s stock valued at $18,631,000 after buying an additional 9,815 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in TD SYNNEX by 6.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock valued at $21,226,000 after buying an additional 12,615 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in TD SYNNEX in the 2nd quarter valued at approximately $818,000. Finally, EverSource Wealth Advisors LLC increased its stake in TD SYNNEX by 17.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 852 shares of the business services provider’s stock valued at $116,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 84.00% of the company’s stock.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.