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

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

Several other research analysts also recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday. Barclays upped their price target on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday. Loop Capital reiterated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a report on Monday, October 7th. Finally, Cfra upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating and upped their target price for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Trading Up 0.2 %

Shares of SNX stock opened at $136.25 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.77 and a current ratio of 1.25. The stock has a fifty day simple moving average of $120.83 and a two-hundred day simple moving average of $118.16. The firm has a market capitalization of $11.59 billion, a PE ratio of 17.63, a PEG ratio of 1.14 and a beta of 1.46. TD SYNNEX has a 52-week low of $98.70 and a 52-week high of $138.04.

Insider Transactions at TD SYNNEX

In other news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the completion of the transaction, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David R. Vetter sold 20,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $123.14, for a total value of $2,462,800.00. Following the sale, the insider now owns 66,381 shares of the company’s stock, valued at $8,174,156.34. This trade represents a 23.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,876 shares of company stock valued at $5,782,129. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

A number of large investors have recently added to or reduced their stakes in SNX. Hancock Whitney Corp raised its stake in shares of TD SYNNEX by 57.9% during the 2nd quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after acquiring an additional 6,207 shares in the last quarter. Pathstone Holdings LLC grew 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 worth $2,197,000 after purchasing an additional 5,698 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of TD SYNNEX during the second quarter worth $1,634,000. The Manufacturers Life Insurance Company lifted its holdings in shares of TD SYNNEX by 20.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 67,543 shares of the business services provider’s stock valued at $7,794,000 after purchasing an additional 11,589 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after purchasing an additional 813,634 shares in the last quarter. 84.00% of the stock is currently owned by 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.