StockNews.com Downgrades TD SYNNEX (NYSE:SNX) to Hold

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

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

TD SYNNEX Price Performance

NYSE SNX opened at $107.85 on Wednesday. The stock has a market capitalization of $9.10 billion, a PE ratio of 13.55, a P/E/G ratio of 1.06 and a beta of 1.51. The stock has a 50-day simple moving average of $136.32 and a 200 day simple moving average of $125.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. TD SYNNEX has a twelve month low of $98.00 and a twelve month high of $145.10.

Insider Transactions at TD SYNNEX

In related news, Director Ann F. Vezina sold 839 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $136.08, for a total value of $114,171.12. Following the completion of the transaction, the director now owns 4,856 shares in the company, valued at $660,804.48. The trade was a 14.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction 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 directly owns 111,080 shares of the company’s stock, valued at $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. Over the last 90 days, insiders sold 49,172 shares of company stock valued at $6,353,261. Corporate insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new position in TD SYNNEX in the fourth quarter valued at approximately $5,158,000. Pathstone Holdings LLC increased its holdings in TD SYNNEX by 45.2% in the third quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock valued at $2,197,000 after purchasing an additional 5,698 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in TD SYNNEX by 37.0% in 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 buying an additional 813,634 shares during the period. IFP Advisors Inc boosted its holdings in TD SYNNEX by 976.6% during the fourth quarter. IFP Advisors Inc now owns 1,012 shares of the business services provider’s stock worth $119,000 after buying an additional 918 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in shares of TD SYNNEX in the 4th quarter valued at about $2,260,000. 84.00% of the stock is owned by 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.