TD SYNNEX (NYSE:SNX) Stock Rating Upgraded by StockNews.com

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

Several other research analysts have also issued reports on the stock. Barclays increased their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Monday. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the company from $122.00 to $147.00 in a research note on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price objective on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Barrington Research reissued an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a report on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.38.

TD SYNNEX Trading Up 0.2 %

NYSE SNX opened at $136.25 on Tuesday. The stock’s 50 day moving average is $120.83 and its 200 day moving average is $118.16. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $11.59 billion, a PE ratio of 17.63, a P/E/G ratio of 1.14 and a beta of 1.46. TD SYNNEX has a twelve month low of $98.70 and a twelve month high of $138.04.

Insiders Place Their Bets

In other news, 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 completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the sale, the insider now owns 23,339 shares of the company’s stock, valued at approximately $2,874,664.63. This trade represents a 21.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,876 shares of company stock valued at $5,782,129. 1.90% of the stock is owned by insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. FMR LLC grew its position in shares of TD SYNNEX by 18.4% during the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after acquiring an additional 1,154,651 shares during the period. JPMorgan Chase & Co. lifted its position in TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after purchasing an additional 813,634 shares in the last quarter. Pacer Advisors Inc. grew its holdings in TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after purchasing an additional 1,006,569 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of TD SYNNEX by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock worth $258,482,000 after buying an additional 177,460 shares during the period. Finally, State Street Corp raised its stake in shares of TD SYNNEX by 0.7% in the third quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock worth $262,943,000 after buying an additional 15,995 shares during the period. 84.00% of the stock is owned by hedge funds and other 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.