TD SYNNEX (NYSE:SNX) Upgraded to Buy at Cfra

TD SYNNEX (NYSE:SNX) was upgraded by equities research analysts at Cfra from a “hold” rating to a “buy” rating in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $147.00 price objective on the business services provider’s stock, up from their prior price objective of $122.00. Cfra’s target price would indicate a potential upside of 11.74% from the stock’s current price.

A number of other research firms have also recently weighed in on SNX. Barclays upped their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research report on Friday, September 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research report on Tuesday. StockNews.com lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Loop Capital reiterated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research report on Monday, September 23rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.00.

TD SYNNEX Stock Up 7.7 %

Shares of NYSE SNX traded up $9.45 during trading on Friday, reaching $131.55. 685,522 shares of the stock were exchanged, compared to its average volume of 593,688. The company has a market capitalization of $11.19 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The business’s 50-day moving average price is $119.77 and its 200 day moving average price is $117.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX has a twelve month low of $98.70 and a twelve month high of $133.85.

Insider Buying and Selling

In related news, CFO Marshall Witt sold 1,510 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now directly owns 48,362 shares in the company, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David R. Vetter sold 20,000 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $123.14, for a total value of $2,462,800.00. Following the transaction, the insider now owns 66,381 shares of the company’s stock, valued at $8,174,156.34. This trade represents a 23.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,876 shares of company stock valued at $8,196,529. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

A number of hedge funds and other institutional investors have recently modified their holdings of SNX. Hancock Whitney Corp lifted its stake in shares of TD SYNNEX by 57.9% in the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after acquiring an additional 6,207 shares during the period. Pathstone Holdings LLC raised its position in TD SYNNEX by 45.2% in the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after acquiring an additional 5,698 shares in the last quarter. Intech Investment Management LLC acquired a new stake in TD SYNNEX in the 2nd quarter valued at about $1,634,000. Meeder Asset Management Inc. boosted its position in shares of TD SYNNEX by 4,293.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 13,840 shares of the business services provider’s stock valued at $1,597,000 after purchasing an additional 13,525 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of TD SYNNEX by 20.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider’s stock worth $7,794,000 after purchasing an additional 11,589 shares in the last quarter. 84.00% of the stock is currently owned by 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.