TD SYNNEX (NYSE:SNX) Downgraded by StockNews.com 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 note issued to investors on Tuesday.

A number of other analysts have also commented on SNX. Barclays lifted their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Royal Bank of Canada lifted their price objective on TD SYNNEX from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on TD SYNNEX from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, January 13th. Finally, Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and boosted their target price for the stock from $122.00 to $147.00 in a research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.50.

TD SYNNEX Trading Down 1.5 %

Shares of NYSE:SNX traded down $2.09 during trading on Tuesday, hitting $139.26. 435,761 shares of the company’s stock were exchanged, compared to its average volume of 643,285. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.75 billion, a P/E ratio of 17.49, a PEG ratio of 1.06 and a beta of 1.49. The firm has a 50-day moving average price of $133.27 and a two-hundred day moving average price of $123.90. TD SYNNEX has a 1-year low of $101.21 and a 1-year high of $145.10.

Insider Buying and Selling at TD SYNNEX

In related news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, 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 can be accessed through this hyperlink. Also, Director Ann F. Vezina sold 839 shares of the 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 owns 4,856 shares of the company’s stock, valued at approximately $660,804.48. This trade represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,289 shares of company stock valued at $3,639,500. 1.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On TD SYNNEX

Several institutional investors have recently bought and sold shares of the company. Forum Financial Management LP grew its stake in shares of TD SYNNEX by 10.0% during the 4th quarter. Forum Financial Management LP now owns 2,514 shares of the business services provider’s stock worth $295,000 after acquiring an additional 229 shares in the last quarter. Vise Technologies Inc. bought a new position in TD SYNNEX in the fourth quarter valued at $276,000. CSS LLC IL increased its stake in TD SYNNEX by 11.7% in the 4th quarter. CSS LLC IL now owns 11,896 shares of the business services provider’s stock valued at $1,395,000 after buying an additional 1,250 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in TD SYNNEX by 10.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,557 shares of the business services provider’s stock worth $22,466,000 after buying an additional 17,683 shares in the last quarter. Finally, Waverly Advisors LLC boosted its stake in shares of TD SYNNEX by 77.4% during the 4th quarter. Waverly Advisors LLC now owns 4,724 shares of the business services provider’s stock worth $554,000 after buying an additional 2,061 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

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.