TD SYNNEX (NYSE:SNX) Given "Buy (B-)" Rating at Weiss Ratings

Key Points

• TD SYNNEX's stock has received a "Buy (B-)" rating from Weiss Ratings as well as positive price target revisions from several analysts, with Morgan Stanley raising their target from $173 to $181.
• The company's stock price rose 1.4% on Wednesday, reaching $160.90, while it has a market cap of $13.10 billion and a price-to-earnings ratio of 17.45.
• Insider trading activity has been noted, with several insiders selling shares, indicating potential changes in their confidence level regarding the company's stock.

TD SYNNEX (NYSE:SNX - Get Free Report)'s stock had its "buy (b-)" rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on SNX. Morgan Stanley upped their target price on shares of TD SYNNEX from $173.00 to $181.00 and gave the company an "overweight" rating in a research note on Friday, September 26th. Barrington Research increased their price objective on shares of TD SYNNEX from $156.00 to $182.00 and gave the stock an "outperform" rating in a research note on Monday, September 29th. Wall Street Zen lowered shares of TD SYNNEX from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Bank of America increased their price objective on shares of TD SYNNEX from $170.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Finally, Royal Bank Of Canada increased their price objective on shares of TD SYNNEX from $165.00 to $180.00 and gave the stock an "outperform" rating in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, TD SYNNEX has a consensus rating of "Moderate Buy" and a consensus target price of $169.55.

TD SYNNEX Stock Up 1.4%

Shares of TD SYNNEX stock traded up $2.25 during trading on Wednesday, reaching $160.90. The company had a trading volume of 553,168 shares, compared to its average volume of 1,005,042. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. The firm's fifty day moving average is $150.90 and its 200-day moving average is $132.57. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.20. TD SYNNEX has a fifty-two week low of $92.23 and a fifty-two week high of $167.76.

Insider Activity

In other news, insider Alim Dhanji sold 1,257 shares of TD SYNNEX stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $142.41, for a total transaction of $179,009.37. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann F. Vezina sold 812 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $150.42, for a total value of $122,141.04. Following the sale, the director directly owned 6,079 shares in the company, valued at approximately $914,403.18. This trade represents a 11.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,930 shares of company stock valued at $430,163. Insiders own 1.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. boosted its holdings in shares of TD SYNNEX by 1.6% in the first 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 boosted its holdings in shares of TD SYNNEX by 0.6% in the first 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 boosted its holdings in shares of TD SYNNEX by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 21,100 shares of the business services provider's stock valued at $2,194,000 after acquiring an additional 100 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of TD SYNNEX by 3.1% in the second quarter. ProShare Advisors LLC now owns 3,311 shares of the business services provider's stock valued at $449,000 after acquiring an additional 101 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of TD SYNNEX by 23.7% in the second quarter. Blue Trust Inc. now owns 543 shares of the business services provider's stock valued at $74,000 after acquiring an additional 104 shares in the last quarter. 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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