TD SYNNEX (NYSE:SNX) Shares Gap Down to $129.34

TD SYNNEX Co. (NYSE:SNXGet Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $129.34, but opened at $120.45. TD SYNNEX shares last traded at $121.74, with a volume of 222,193 shares.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $113.00 to $126.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Bank of America boosted their price objective on TD SYNNEX from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada boosted their price objective on TD SYNNEX from $118.00 to $135.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 11th. Barclays boosted their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 27th. Finally, Barrington Research boosted their price objective on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average price target of $123.36.

View Our Latest Analysis on SNX

TD SYNNEX Stock Performance

The company has a market capitalization of $10.63 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55. The firm has a 50 day moving average price of $124.54 and a two-hundred day moving average price of $112.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22.

TD SYNNEX (NYSE:SNXGet Free Report) last released its quarterly earnings data on Tuesday, March 26th. The business services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.12. TD SYNNEX had a return on equity of 12.16% and a net margin of 1.12%. The company had revenue of $13.98 billion for the quarter, compared to analyst estimates of $14.37 billion. On average, research analysts expect that TD SYNNEX Co. will post 11.38 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 directly owns 134,706 shares in the company, valued at approximately $15,908,778.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $118.10, for a total value of $2,362,000.00. Following the sale, the insider now directly owns 134,706 shares of the company’s stock, valued at $15,908,778.60. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its holdings in TD SYNNEX by 121.7% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 255 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 140 shares in the last quarter. Rise Advisors LLC bought a new position in TD SYNNEX in the 1st quarter valued at $32,000. Pineridge Advisors LLC bought a new position in TD SYNNEX in the 4th quarter valued at $33,000. Daiwa Securities Group Inc. bought a new position in TD SYNNEX in the 1st quarter valued at $68,000. Finally, Gladius Capital Management LP boosted its position in TD SYNNEX by 50.8% in the 3rd quarter. Gladius Capital Management LP now owns 742 shares of the business services provider’s stock valued at $74,000 after buying an additional 250 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Company Profile

(Get Free Report)

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.

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