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

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

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

TD SYNNEX Stock Up 0.3 %

Shares of NYSE SNX traded up $0.44 during midday trading on Tuesday, reaching $128.94. 421,367 shares of the company’s stock were exchanged, compared to its average volume of 723,638. TD SYNNEX has a 52-week low of $102.23 and a 52-week high of $145.10. The stock has a market capitalization of $10.88 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The business’s fifty day moving average price is $137.14 and its two-hundred day moving average price is $125.22.

Insider Buying and Selling at TD SYNNEX

In related news, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $23,681,372. This represents a 3.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the sale, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,172 shares of company stock worth $6,342,766 over the last ninety days. Company insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in TD SYNNEX by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 7,685,224 shares of the business services provider’s stock valued at $901,323,000 after acquiring an additional 29,659 shares during the period. FMR LLC increased its position in TD SYNNEX by 3.2% in the 4th quarter. FMR LLC now owns 7,663,179 shares of the business services provider’s stock valued at $898,738,000 after acquiring an additional 237,587 shares during the period. Brave Warrior Advisors LLC increased its position in TD SYNNEX by 12.2% in the 4th quarter. Brave Warrior Advisors LLC now owns 4,147,172 shares of the business services provider’s stock valued at $486,380,000 after acquiring an additional 451,557 shares during the period. JPMorgan Chase & Co. increased its position in TD SYNNEX by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 3,335,501 shares of the business services provider’s stock valued at $391,188,000 after acquiring an additional 323,282 shares during the period. Finally, Ninety One UK Ltd increased its position in TD SYNNEX by 75.4% in the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock valued at $277,316,000 after acquiring an additional 1,016,251 shares during the period. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.