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

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

Several other equities analysts have also recently issued reports on SNX. JPMorgan Chase & Co. raised their price target on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, January 13th. Royal Bank of Canada restated an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a report on Wednesday, January 15th. Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Finally, Cfra upgraded 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 report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.

TD SYNNEX Trading Down 0.5 %

TD SYNNEX stock traded down $0.68 during mid-day trading on Friday, hitting $142.78. The stock had a trading volume of 671,866 shares, compared to its average volume of 723,399. The stock has a 50-day simple moving average of $128.51 and a two-hundred day simple moving average of $121.44. The stock has a market capitalization of $12.09 billion, a PE ratio of 17.94, a P/E/G ratio of 1.06 and a beta of 1.48. TD SYNNEX has a 12 month low of $98.70 and a 12 month high of $144.27. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46.

Insider Transactions at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction that occurred 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 owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick Zammit sold 6,823 shares of TD SYNNEX stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 165,604 shares in the company, valued at approximately $23,681,372. This represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,289 shares of company stock valued at $3,639,500 over the last 90 days. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Creative Planning boosted its stake in shares of TD SYNNEX by 21.3% during the 2nd quarter. Creative Planning now owns 8,614 shares of the business services provider’s stock worth $994,000 after acquiring an additional 1,513 shares during the period. SG Americas Securities LLC bought a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $605,000. CWM LLC boosted its stake in shares of TD SYNNEX by 15.0% during the 3rd quarter. CWM LLC now owns 8,646 shares of the business services provider’s stock worth $1,038,000 after acquiring an additional 1,129 shares during the period. UMB Bank n.a. boosted its stake in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after acquiring an additional 144 shares during the period. Finally, Ritholtz Wealth Management bought a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $274,000. 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.