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

TD SYNNEX (NYSE:SNX) had its target price upped by investment analysts at JPMorgan Chase & Co. from $135.00 to $150.00 in a report released on Monday,Benzinga reports. The firm presently has a “neutral” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 10.31% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research report on Tuesday, January 7th. Loop Capital reiterated a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Barrington Research restated an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and raised their price objective for the company from $122.00 to $147.00 in a report on Friday, January 10th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $135.98 on Monday. The business has a 50-day simple moving average of $120.48 and a 200 day simple moving average of $118.02. TD SYNNEX has a 52 week low of $98.70 and a 52 week high of $136.07. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.14 and a beta of 1.46. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Insider Activity

In other TD SYNNEX news, insider David R. Vetter sold 20,000 shares of the stock in a transaction 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 completion of the sale, the insider now owns 66,381 shares of the company’s stock, valued at $8,174,156.34. This represents a 23.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction dated 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 directly owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,876 shares of company stock valued at $5,782,129. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds have recently made changes to their positions in SNX. FMR LLC boosted its holdings in TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after acquiring an additional 1,154,651 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after purchasing an additional 813,634 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after buying an additional 1,006,569 shares during the period. Dimensional Fund Advisors LP raised its stake in TD SYNNEX by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after buying an additional 177,460 shares in the last quarter. Finally, State Street Corp boosted its position in TD SYNNEX by 0.7% during the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after acquiring an additional 15,995 shares in the last quarter. 84.00% of the stock is owned by hedge funds and other 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.