TD SYNNEX (NYSE:SNX) Downgraded to Hold Rating by StockNews.com

TD SYNNEX (NYSE:SNX) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

A number of other research analysts also recently commented on SNX. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price target for the company from $122.00 to $147.00 in a report on Friday, January 10th. Barclays boosted their price objective on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Royal Bank of Canada raised their target price on TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, January 13th. Finally, Barrington Research increased their target price on shares of TD SYNNEX from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Thursday, March 20th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $149.75.

TD SYNNEX Stock Down 2.8 %

NYSE SNX opened at $126.58 on Wednesday. The business has a 50 day moving average price of $137.13 and a two-hundred day moving average price of $125.70. The stock has a market cap of $10.68 billion, a PE ratio of 15.90, a P/E/G ratio of 1.06 and a beta of 1.51. TD SYNNEX has a fifty-two week low of $106.00 and a fifty-two week high of $145.10. The company has a quick ratio of 0.76, a current ratio of 1.24 and a debt-to-equity ratio of 0.46.

Insider Transactions at TD SYNNEX

In other TD SYNNEX news, CEO Patrick Zammit sold 6,823 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were 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 in the company, valued at $23,681,372. This trade represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard T. Hume sold 20,000 shares of the business’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 transaction of $2,352,400.00. Following the sale, the director now owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,172 shares of company stock valued at $6,353,261 over the last three months. Company insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

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