TD SYNNEX (NYSE:SNX) Raised to “Strong-Buy” at Zacks Research

TD SYNNEX (NYSE:SNX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts have also issued reports on the stock. The Goldman Sachs Group upped their target price on shares of TD SYNNEX from $145.00 to $164.00 and gave the stock a “buy” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. upped their price target on shares of TD SYNNEX from $143.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, July 17th. Raymond James Financial set a $175.00 price target on shares of TD SYNNEX in a research report on Thursday, September 25th. Bank of America upped their price target on shares of TD SYNNEX from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Finally, Wall Street Zen upgraded shares of TD SYNNEX from a “hold” rating to a “buy” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $169.55.

TD SYNNEX Stock Down 0.3%

Shares of NYSE:SNX opened at $163.96 on Wednesday. TD SYNNEX has a 52-week low of $92.23 and a 52-week high of $167.76. The firm has a fifty day moving average of $150.00 and a 200 day moving average of $131.76. The firm has a market capitalization of $13.52 billion, a PE ratio of 17.78, a price-to-earnings-growth ratio of 1.28 and a beta of 1.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.20.

Insider Activity

In other news, Director Ann F. Vezina sold 812 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total transaction of $122,141.04. Following the completion of the transaction, the director directly owned 6,079 shares of the company’s stock, valued at approximately $914,403.18. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 861 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total transaction of $129,012.24. Following the transaction, the chief financial officer directly owned 49,777 shares of the company’s stock, valued at approximately $7,458,585.68. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,930 shares of company stock valued at $430,163. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of TD SYNNEX by 24.8% during the third quarter. GAMMA Investing LLC now owns 1,010 shares of the business services provider’s stock valued at $165,000 after acquiring an additional 201 shares during the last quarter. Texas Permanent School Fund Corp raised its stake in TD SYNNEX by 6.1% in the second quarter. Texas Permanent School Fund Corp now owns 74,306 shares of the business services provider’s stock worth $10,083,000 after buying an additional 4,243 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in TD SYNNEX by 28.8% in the second quarter. Thrivent Financial for Lutherans now owns 921,530 shares of the business services provider’s stock worth $125,052,000 after buying an additional 206,081 shares in the last quarter. Corient Private Wealth LLC raised its stake in TD SYNNEX by 74.7% in the second quarter. Corient Private Wealth LLC now owns 82,736 shares of the business services provider’s stock worth $11,227,000 after buying an additional 35,382 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in TD SYNNEX by 7.6% in the second quarter. Captrust Financial Advisors now owns 8,831 shares of the business services provider’s stock worth $1,198,000 after buying an additional 625 shares in the last quarter. 84.00% of the stock is 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.