TD SYNNEX (NYSE:SNX – Get Free Report) had its target price raised by equities research analysts at UBS Group from $265.00 to $310.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. UBS Group’s price objective points to a potential upside of 15.96% from the company’s current price.
SNX has been the subject of several other research reports. Weiss Ratings upgraded shares of TD SYNNEX from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday, June 2nd. Morgan Stanley boosted their price target on shares of TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a research report on Friday, March 20th. The Goldman Sachs Group upped their price objective on shares of TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Wall Street Zen raised TD SYNNEX from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Finally, Zacks Research downgraded TD SYNNEX from a “strong-buy” rating to a “hold” rating in a report on Monday, June 1st. Nine investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TD SYNNEX has an average rating of “Moderate Buy” and a consensus target price of $217.10.
Check Out Our Latest Stock Analysis on SNX
TD SYNNEX Stock Down 1.6%
TD SYNNEX (NYSE:SNX – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $1.49. The firm had revenue of $17.16 billion during the quarter, compared to the consensus estimate of $15.59 billion. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.80 earnings per share. Equities analysts anticipate that TD SYNNEX will post 15.88 EPS for the current fiscal year.
Insiders Place Their Bets
In other TD SYNNEX news, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $280.38, for a total transaction of $1,401,900.00. Following the transaction, the director directly owned 23,537 shares of the company’s stock, valued at approximately $6,599,304.06. This trade represents a 17.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Gregory Jordan sold 3,225 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $189.46, for a total transaction of $611,008.50. Following the completion of the sale, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at $2,659,071.10. The trade was a 18.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 21,250 shares of company stock valued at $4,935,282. Insiders own 0.70% of the company’s stock.
Institutional Investors Weigh In On TD SYNNEX
Large investors have recently modified their holdings of the stock. Ossiam grew its position in TD SYNNEX by 84.3% in the 3rd quarter. Ossiam now owns 164 shares of the business services provider’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Dorato Capital Management acquired a new stake in shares of TD SYNNEX in the 4th quarter worth $27,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of TD SYNNEX in the 3rd quarter worth $30,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of TD SYNNEX in the fourth quarter valued at about $28,000. Finally, SJS Investment Consulting Inc. increased its stake in shares of TD SYNNEX by 44.6% during the first quarter. SJS Investment Consulting Inc. now owns 201 shares of the business services provider’s stock worth $34,000 after acquiring an additional 62 shares during the period. Hedge funds and other institutional investors 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.
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