TD SYNNEX (NYSE:SNX – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Friday.
Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group reduced their price target on shares of TD SYNNEX from $154.00 to $137.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Barclays set a $140.00 price target on shares of TD SYNNEX in a research note on Tuesday. Morgan Stanley set a $155.00 price target on shares of TD SYNNEX and gave the company an “overweight” rating in a research note on Wednesday. UBS Group dropped their price objective on shares of TD SYNNEX from $150.00 to $138.00 and set a “buy” rating for the company in a report on Friday, March 28th. Finally, Cfra dropped their price objective on shares of TD SYNNEX from $147.00 to $132.00 and set a “buy” rating for the company in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, TD SYNNEX presently has an average rating of “Moderate Buy” and an average target price of $141.44.
Read Our Latest Stock Analysis on SNX
TD SYNNEX Trading Down 1.7%
TD SYNNEX (NYSE:SNX – Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The business services provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.28. TD SYNNEX had a net margin of 1.21% and a return on equity of 11.58%. The company had revenue of $14.95 billion for the quarter, compared to the consensus estimate of $14.30 billion. During the same period last year, the company posted $2.73 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, analysts forecast that TD SYNNEX will post 11.88 earnings per share for the current fiscal year.
Insider Activity
In related news, insider Miriam Anne Murphy sold 3,000 shares of TD SYNNEX stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the sale, the insider now owns 14,883 shares of the company’s stock, valued at approximately $1,637,130. This trade represents a 16.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 1,509 shares of TD SYNNEX stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.35, for a total transaction of $189,153.15. Following the completion of the sale, the chief financial officer now directly owns 49,563 shares of the company’s stock, valued at approximately $6,212,722.05. The trade was a 2.95% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On TD SYNNEX
A number of hedge funds have recently bought and sold shares of the company. Voya Investment Management LLC boosted its holdings in TD SYNNEX by 27.4% during the 1st quarter. Voya Investment Management LLC now owns 33,490 shares of the business services provider’s stock worth $3,482,000 after acquiring an additional 7,212 shares during the last quarter. Strs Ohio purchased a new position in TD SYNNEX during the 1st quarter worth $1,913,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in TD SYNNEX by 6.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 204,172 shares of the business services provider’s stock worth $21,226,000 after acquiring an additional 12,615 shares during the last quarter. Empowered Funds LLC boosted its holdings in TD SYNNEX by 4.8% during the 1st quarter. Empowered Funds LLC now owns 69,497 shares of the business services provider’s stock worth $7,225,000 after acquiring an additional 3,156 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in TD SYNNEX during the 1st quarter worth $475,000. 84.00% of the stock is owned by hedge funds and other institutional investors.
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.
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