TD SYNNEX (NYSE:SNX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

TD SYNNEX (NYSE:SNX) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $135.00 to $150.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 13.44% from the company’s current price.

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

TD SYNNEX Stock Down 1.3 %

Shares of NYSE SNX traded down $1.78 during midday trading on Monday, hitting $132.23. The stock had a trading volume of 489,563 shares, compared to its average volume of 698,955. The business’s 50 day moving average is $120.14 and its 200-day moving average is $117.90. TD SYNNEX has a 52 week low of $98.70 and a 52 week high of $134.48. 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 company has a market cap of $11.25 billion, a P/E ratio of 17.11, a PEG ratio of 1.14 and a beta of 1.46.

Insiders Place Their Bets

In other TD SYNNEX news, insider David R. Vetter sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the sale, the insider now owns 66,381 shares in the company, valued at approximately $8,174,156.34. This trade represents a 23.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,876 shares of company stock worth $8,196,529 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc boosted its holdings in TD SYNNEX by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 2,609 shares of the business services provider’s stock valued at $313,000 after acquiring an additional 86 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in TD SYNNEX by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,727 shares of the business services provider’s stock valued at $315,000 after acquiring an additional 90 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in shares of TD SYNNEX by 1.3% in the 3rd quarter. AlphaMark Advisors LLC now owns 7,734 shares of the business services provider’s stock valued at $929,000 after acquiring an additional 100 shares during the period. Atria Investments Inc lifted its stake in shares of TD SYNNEX by 4.1% during the 3rd quarter. Atria Investments Inc now owns 2,862 shares of the business services provider’s stock worth $344,000 after purchasing an additional 112 shares during the last quarter. Finally, Meixler Investment Management Ltd. boosted its position in TD SYNNEX by 2.1% during the third quarter. Meixler Investment Management Ltd. now owns 5,814 shares of the business services provider’s stock valued at $698,000 after purchasing an additional 120 shares in the last quarter. 84.00% of the stock is 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.