TD SYNNEX (NYSE:SNX) Downgraded by Zacks Research to Hold

TD SYNNEX (NYSE:SNX) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Royal Bank Of Canada set a $340.00 target price on shares of TD SYNNEX in a research report on Friday, June 26th. JPMorgan Chase & Co. upgraded shares of TD SYNNEX from a “neutral” rating to an “overweight” rating and set a $298.00 price objective for the company in a research note on Wednesday, May 27th. UBS Group boosted their price objective on shares of TD SYNNEX from $310.00 to $352.00 and gave the company a “buy” rating in a report on Friday, June 26th. The Goldman Sachs Group set a $330.00 target price on TD SYNNEX in a research report on Friday, June 26th. Finally, Weiss Ratings lowered TD SYNNEX from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday, June 17th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $294.67.

TD SYNNEX Price Performance

Shares of NYSE SNX opened at $255.77 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.64 and a current ratio of 1.20. The company has a market cap of $20.45 billion, a PE ratio of 18.31, a P/E/G ratio of 0.71 and a beta of 1.44. The business has a 50-day simple moving average of $255.96 and a two-hundred day simple moving average of $222.13. TD SYNNEX has a fifty-two week low of $142.22 and a fifty-two week high of $296.47.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, June 25th. The business services provider reported $4.85 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $0.71. TD SYNNEX had a return on equity of 15.37% and a net margin of 1.63%.The business had revenue of $19.57 billion for the quarter, compared to analyst estimates of $16.80 billion. During the same quarter in the previous year, the firm earned $2.99 earnings per share. The company’s revenue was up 31.0% on a year-over-year basis. TD SYNNEX has set its Q3 2026 guidance at 4.250-4.750 EPS. As a group, equities analysts expect that TD SYNNEX will post 18.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ann F. Vezina sold 1,273 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $256.05, for a total value of $325,951.65. Following the sale, the director owned 5,828 shares in the company, valued at $1,492,259.40. This represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard T. Hume sold 5,000 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $242.97, for a total transaction of $1,214,850.00. Following the transaction, the director directly owned 18,537 shares of the company’s stock, valued at approximately $4,503,934.89. This trade represents a 21.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,273 shares of company stock valued at $4,253,752 over the last three months. 0.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in TD SYNNEX by 27,034.6% in the 2nd quarter. California State Teachers Retirement System now owns 22,852,758 shares of the business services provider’s stock worth $6,109,456,000 after purchasing an additional 22,768,538 shares in the last quarter. BlackRock Inc. acquired a new position in shares of TD SYNNEX in the 2nd quarter valued at $1,958,683,000. Norges Bank acquired a new position in shares of TD SYNNEX in the 4th quarter valued at $148,559,000. Alyeska Investment Group L.P. purchased a new position in TD SYNNEX in the third quarter valued at $135,631,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of TD SYNNEX during the 2nd quarter valued at about $149,728,000. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.