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

TD SYNNEX (NYSE:SNX) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

A number of other analysts also recently weighed in on SNX. Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their price target for the stock from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX in a research note on Wednesday, January 15th. Finally, Barclays lifted their price target 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. 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, the company has an average rating of “Moderate Buy” and an average target price of $144.38.

TD SYNNEX Trading Up 1.9 %

NYSE:SNX opened at $144.25 on Friday. TD SYNNEX has a one year low of $99.95 and a one year high of $144.48. The business’s 50-day simple moving average is $130.53 and its 200 day simple moving average is $122.33. 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 stock has a market cap of $12.17 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49.

Insiders Place Their Bets

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total value of $2,352,400.00. Following the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Patrick Zammit sold 6,823 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the transaction, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,289 shares of company stock valued at $3,639,500 over the last quarter. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC raised its stake in TD SYNNEX by 345.1% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 227 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares in the last quarter. Bessemer Group Inc. raised its stake in shares of TD SYNNEX by 174.7% during 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 in the last quarter. V Square Quantitative Management LLC acquired a new stake in TD SYNNEX in the third quarter worth about $30,000. UMB Bank n.a. grew its position in TD SYNNEX by 48.4% in the 4th 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. Finally, Point72 DIFC Ltd acquired a new position in TD SYNNEX during the 3rd quarter valued at about $55,000. 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.