UBS Group Upgrades TD SYNNEX (NYSE:SNX) to Buy

TD SYNNEX (NYSE:SNX) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat reports. The brokerage presently has a $145.00 price objective on the business services provider’s stock, up from their previous price objective of $115.00. UBS Group’s target price would suggest a potential upside of 26.14% from the stock’s previous close.

A number of other analysts also recently commented on SNX. StockNews.com upgraded TD SYNNEX from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Barclays upped their price objective on TD SYNNEX from $111.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 27th. Cfra upped their price objective on TD SYNNEX from $110.00 to $113.00 and gave the stock a “hold” rating in a report on Tuesday, March 26th. Barrington Research upped their price objective on TD SYNNEX from $122.00 to $138.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $118.00 price objective (up from $110.00) on shares of TD SYNNEX in a report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, TD SYNNEX presently has a consensus rating of “Moderate Buy” and an average target price of $121.82.

TD SYNNEX Trading Up 1.7 %

Shares of SNX opened at $114.96 on Tuesday. The stock has a fifty day moving average of $107.05 and a two-hundred day moving average of $102.44. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.75 and a current ratio of 1.22. The company has a market capitalization of $10.24 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.05 and a beta of 1.64. TD SYNNEX has a fifty-two week low of $86.30 and a fifty-two week high of $119.87.

Insider Buying and Selling

In related news, insider Dennis Polk sold 20,000 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the sale, the insider now owns 134,706 shares in the company, valued at $15,908,778.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Richard T. Hume sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $105.57, for a total transaction of $1,055,700.00. Following the transaction, the chief executive officer now owns 229,363 shares in the company, valued at $24,213,851.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dennis Polk sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $118.10, for a total transaction of $2,362,000.00. Following the transaction, the insider now owns 134,706 shares in the company, valued at approximately $15,908,778.60. The disclosure for this sale can be found here. Insiders have sold a total of 44,355 shares of company stock worth $4,930,385 over the last quarter. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SNX. American Century Companies Inc. boosted its holdings in TD SYNNEX by 31.5% during the first quarter. American Century Companies Inc. now owns 20,197 shares of the business services provider’s stock worth $2,085,000 after buying an additional 4,841 shares in the last quarter. US Bancorp DE boosted its holdings in TD SYNNEX by 11.6% during the first quarter. US Bancorp DE now owns 7,213 shares of the business services provider’s stock worth $745,000 after buying an additional 747 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in TD SYNNEX by 7.6% during the first quarter. PNC Financial Services Group Inc. now owns 9,614 shares of the business services provider’s stock worth $992,000 after buying an additional 677 shares in the last quarter. Bank of Montreal Can boosted its holdings in TD SYNNEX by 202.3% during the first quarter. Bank of Montreal Can now owns 53,183 shares of the business services provider’s stock worth $5,569,000 after buying an additional 35,593 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in TD SYNNEX during the first quarter worth approximately $1,065,000. Institutional investors and hedge funds 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.