TD SYNNEX (NYSE:SNX) Rating Increased to Buy at StockNews.com

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

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

TD SYNNEX Stock Up 2.5 %

Shares of NYSE SNX opened at $132.13 on Tuesday. The business has a 50-day moving average price of $137.34 and a 200 day moving average price of $125.26. The stock has a market cap of $11.15 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.06 and a beta of 1.51. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46. TD SYNNEX has a 52-week low of $102.77 and a 52-week high of $145.10.

Insider Buying and Selling at TD SYNNEX

In other TD SYNNEX news, Director Ann F. Vezina sold 839 shares of the firm’s 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 completion of the sale, the director now owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,172 shares of company stock valued at $6,353,261. 1.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC grew its holdings in shares of TD SYNNEX by 345.1% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the period. Bessemer Group Inc. grew its holdings in TD SYNNEX by 174.7% in the fourth quarter. Bessemer Group Inc. now owns 239 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. UMB Bank n.a. increased its position in shares of TD SYNNEX by 48.4% in the fourth quarter. UMB Bank n.a. now owns 429 shares of the business services provider’s stock valued at $50,000 after buying an additional 140 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of TD SYNNEX during the 3rd quarter worth $55,000. Finally, Blue Trust Inc. boosted its position in shares of TD SYNNEX by 37.7% in the 4th quarter. Blue Trust Inc. now owns 471 shares of the business services provider’s stock worth $55,000 after buying an additional 129 shares in the last quarter. 84.00% of the stock is currently owned by institutional investors and hedge funds.

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.