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

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

Several other brokerages also recently weighed in on SNX. Barclays increased their target price 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. Cfra raised TD SYNNEX from a “hold” rating to a “buy” rating and increased their price objective for the company from $122.00 to $147.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. raised their price objective on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, January 13th. Finally, Royal Bank of Canada upped their target price on shares of TD SYNNEX from $140.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.50.

TD SYNNEX Stock Performance

Shares of TD SYNNEX stock traded down $2.09 on Tuesday, reaching $139.26. The stock had a trading volume of 435,761 shares, compared to its average volume of 643,285. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.76 and a current ratio of 1.24. The business’s 50-day moving average price is $133.27 and its two-hundred day moving average price is $123.90. The stock has a market cap of $11.75 billion, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 1.06 and a beta of 1.49. TD SYNNEX has a fifty-two week low of $101.21 and a fifty-two week high of $145.10.

Insiders Place Their Bets

In other 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 owns 48,362 shares in the company, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patrick Zammit sold 6,823 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $143.00, for a total transaction of $975,689.00. Following the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $23,681,372. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,289 shares of company stock worth $3,639,500 over the last quarter. Company insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

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