TD SYNNEX (NYSE:SNX) Rating Increased to Buy at StockNews.com

TD SYNNEX (NYSE:SNX - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

Several other equities research analysts have also recently weighed in on SNX. Barclays increased their target price on shares of TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research note on Monday. Loop Capital restated a "buy" rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Cfra raised shares of TD SYNNEX from a "hold" rating to a "buy" rating and boosted their price target for the company from $122.00 to $147.00 in a report on Friday. 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 report on Monday. Finally, Barrington Research reissued an "outperform" rating and issued a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.38.

TD SYNNEX Stock Up 2.4 %

SNX traded up $3.14 during trading on Tuesday, reaching $135.98. 891,890 shares of the stock traded hands, compared to its average volume of 808,549. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The stock's 50-day simple moving average is $120.48 and its two-hundred day simple moving average is $118.02. TD SYNNEX has a fifty-two week low of $98.70 and a fifty-two week high of $136.07.

Insider Buying and Selling

In other news, insider Simon Leung sold 6,249 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total transaction of $769,689.33. Following the sale, the insider now directly owns 23,339 shares of the company's stock, valued at $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 transaction, the insider now directly owns 66,381 shares in the company, valued at approximately $8,174,156.34. This represents a 23.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,876 shares of company stock worth $8,196,529 in the last three months. Insiders own 1.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in shares of TD SYNNEX during the third quarter worth $30,000. UMB Bank n.a. increased its holdings in 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 purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $37,000. Point72 DIFC Ltd bought a new stake in shares of TD SYNNEX in the third quarter valued at about $55,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of TD SYNNEX during the third quarter worth about $58,000. 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.

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