TD SYNNEX (NYSE:SNX) Stock Rating Lowered by Wall Street Zen

TD SYNNEX (NYSE:SNX) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other equities research analysts have also weighed in on SNX. Zacks Research upgraded TD SYNNEX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Bank of America upped their price target on TD SYNNEX from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Weiss Ratings restated a “buy (b-)” rating on shares of TD SYNNEX in a research report on Saturday, September 27th. Morgan Stanley upped their target price on TD SYNNEX from $173.00 to $181.00 and gave the company an “overweight” rating in a research report on Friday, September 26th. Finally, The Goldman Sachs Group upped their target price on TD SYNNEX from $145.00 to $164.00 and gave the company a “buy” rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $169.55.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $158.57 on Friday. The stock has a market capitalization of $12.91 billion, a PE ratio of 17.20, a P/E/G ratio of 1.24 and a beta of 1.43. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.20 and a quick ratio of 0.71. The business has a fifty day moving average price of $150.24 and a two-hundred day moving average price of $131.96. TD SYNNEX has a fifty-two week low of $92.23 and a fifty-two week high of $167.76.

Insider Activity at TD SYNNEX

In other news, insider Alim Dhanji sold 1,257 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total value of $179,009.37. Following the completion of the sale, the insider owned 10,984 shares of the company’s stock, valued at approximately $1,564,231.44. The trade was a 10.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Marshall Witt sold 861 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $149.84, for a total value of $129,012.24. Following the transaction, the chief financial officer directly owned 49,777 shares of the company’s stock, valued at $7,458,585.68. The trade was a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,930 shares of company stock valued at $430,163. Company insiders own 1.00% of the company’s stock.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. lifted its position in TD SYNNEX by 1.6% in the 1st quarter. Crossmark Global Holdings Inc. now owns 6,063 shares of the business services provider’s stock valued at $630,000 after acquiring an additional 94 shares in the last quarter. State of Michigan Retirement System lifted its position in TD SYNNEX by 0.6% in the 1st quarter. State of Michigan Retirement System now owns 18,021 shares of the business services provider’s stock valued at $1,873,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of TD SYNNEX by 0.5% during the 1st quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the business services provider’s stock valued at $2,194,000 after buying an additional 100 shares during the period. ProShare Advisors LLC lifted its holdings in shares of TD SYNNEX by 3.1% during the 2nd quarter. ProShare Advisors LLC now owns 3,311 shares of the business services provider’s stock valued at $449,000 after buying an additional 101 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of TD SYNNEX by 23.7% during the 2nd quarter. Blue Trust Inc. now owns 543 shares of the business services provider’s stock valued at $74,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 84.00% of the company’s stock.

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.