TD SYNNEX (NYSE:SNX) Price Target Lowered to $137.00 at The Goldman Sachs Group

TD SYNNEX (NYSE:SNX) had its price target lowered by The Goldman Sachs Group from $154.00 to $137.00 in a research note issued to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the business services provider’s stock.

A number of other equities analysts also recently commented on SNX. Royal Bank of Canada lifted their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. UBS Group reduced their price objective on TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Friday. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday. Barrington Research reiterated an “outperform” rating and issued a $156.00 target price on shares of TD SYNNEX in a research note on Friday. Finally, Barclays lowered their price target on shares of TD SYNNEX from $148.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $140.00.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $104.45 on Friday. The business has a 50 day simple moving average of $135.67 and a 200-day simple moving average of $125.53. TD SYNNEX has a twelve month low of $98.00 and a twelve month high of $145.10. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

TD SYNNEX (NYSE:SNX) last released its earnings results on Thursday, March 27th. The business services provider reported $2.80 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.07). TD SYNNEX had a net margin of 1.18% and a return on equity of 11.91%. The business had revenue of $14.53 billion for the quarter, compared to the consensus estimate of $14.79 billion. During the same quarter in the previous year, the firm earned $2.99 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that TD SYNNEX will post 11.88 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 11th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Friday, April 11th. TD SYNNEX’s payout ratio is currently 22.11%.

Insider Activity at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $128.08, for a total transaction of $193,400.80. Following the completion of the transaction, the chief financial officer now owns 49,843 shares of the company’s stock, valued at $6,383,891.44. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the completion of the sale, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,172 shares of company stock worth $6,353,261 in the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of TD SYNNEX by 11.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,008 shares of the business services provider’s stock worth $822,000 after purchasing an additional 708 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in TD SYNNEX in the 4th quarter worth about $6,167,000. Forum Financial Management LP raised its holdings in TD SYNNEX by 10.0% during the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock worth $295,000 after buying an additional 229 shares during the period. Vise Technologies Inc. purchased a new stake in TD SYNNEX during the fourth quarter valued at about $276,000. Finally, CSS LLC IL boosted its holdings in shares of TD SYNNEX by 11.7% in the fourth quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock worth $1,395,000 after buying an additional 1,250 shares during the period. Institutional investors and hedge funds 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.