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

TD SYNNEX (NYSE:SNX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. upped their target price 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 upped their price objective on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Cfra upgraded shares of 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. Finally, Barclays raised their target price on TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Three 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.50.

TD SYNNEX Price Performance

NYSE SNX opened at $139.70 on Tuesday. TD SYNNEX has a 1 year low of $101.21 and a 1 year high of $145.10. The business’s fifty day moving average is $133.74 and its two-hundred day moving average is $124.01. The stock has a market capitalization of $11.79 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.06 and a beta of 1.49. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24.

Insider Buying and Selling at TD SYNNEX

In other news, Director Ann F. Vezina sold 839 shares of TD SYNNEX stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $136.08, for a total value of $114,171.12. Following the transaction, the director now directly owns 4,856 shares in the company, valued at approximately $660,804.48. The trade was a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $143.00, for a total value of $975,689.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,289 shares of company stock worth $3,639,500 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Institutional Trading of TD SYNNEX

A number of hedge funds have recently bought and sold shares of SNX. FMR LLC boosted its stake in TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after buying an additional 1,154,651 shares in the last quarter. Norges Bank bought a new stake in shares of TD SYNNEX in the fourth quarter valued at about $121,199,000. Ninety One UK Ltd boosted its stake in shares of TD SYNNEX by 75.4% during the 4th quarter. Ninety One UK Ltd now owns 2,364,563 shares of the business services provider’s stock worth $277,316,000 after buying an additional 1,016,251 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of TD SYNNEX by 343.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,210,036 shares of the business services provider’s stock valued at $141,913,000 after acquiring an additional 937,040 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of 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 last quarter. 84.00% of the stock is 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.