TD SYNNEX (NYSE:SNX) Upgraded at StockNews.com

TD SYNNEX (NYSE:SNX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

Other equities analysts have also recently issued reports about the company. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and lifted their price target for the company from $122.00 to $147.00 in a research report on Friday, January 10th. Barclays raised their price objective on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada raised their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.50.

TD SYNNEX Price Performance

Shares of SNX stock traded up $0.44 during mid-day trading on Tuesday, hitting $128.94. 421,367 shares of the stock traded hands, compared to its average volume of 723,638. TD SYNNEX has a twelve month low of $102.23 and a twelve month high of $145.10. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company’s 50-day simple moving average is $137.14 and its 200-day simple moving average is $125.22. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

Insider Activity at TD SYNNEX

In other news, CEO Patrick Zammit sold 6,823 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now directly owns 165,604 shares in the company, valued at $23,681,372. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann F. Vezina sold 839 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This represents a 14.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,172 shares of company stock valued at $6,342,766. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several large investors have recently made changes to their positions in SNX. Wealth Enhancement Advisory Services LLC raised its position in 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 valued at $822,000 after acquiring an additional 708 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of TD SYNNEX during the 4th quarter worth $6,167,000. Forum Financial Management LP raised its holdings in shares of 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 valued at $295,000 after purchasing an additional 229 shares in the last quarter. Vise Technologies Inc. bought a new position in shares of TD SYNNEX during the 4th quarter valued at $276,000. Finally, CSS LLC IL raised its holdings in shares of TD SYNNEX by 11.7% during the 4th quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock valued at $1,395,000 after purchasing an additional 1,250 shares in the last quarter. Institutional investors own 84.00% of the company’s stock.

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.