TD SYNNEX (NYSE:SNX) Upgraded to “Buy” at Cfra

Cfra upgraded shares of TD SYNNEX (NYSE:SNX) from a hold rating to a buy rating in a research note released on Friday,Benzinga reports. Cfra currently has $147.00 target price on the business services provider’s stock, up from their prior target price of $122.00.

A number of other brokerages also recently weighed in on SNX. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Loop Capital reaffirmed a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Barclays lifted their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target on shares of TD SYNNEX in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, TD SYNNEX currently has an average rating of “Moderate Buy” and an average target price of $139.00.

TD SYNNEX Trading Up 9.9 %

Shares of NYSE SNX opened at $134.16 on Friday. TD SYNNEX has a 1-year low of $98.70 and a 1-year high of $134.48. The company has a market cap of $11.42 billion, a PE ratio of 17.36, a P/E/G ratio of 1.14 and a beta of 1.46. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $119.77 and a two-hundred day moving average of $117.85.

Insider Activity at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now owns 111,080 shares in the company, valued at $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 1,510 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total transaction of $182,906.30. Following the completion of the transaction, the chief financial officer now owns 48,362 shares of the company’s stock, valued at $5,858,089.06. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,876 shares of company stock worth $8,196,529. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fulton Bank N.A. lifted its position in shares of TD SYNNEX by 12.1% in the fourth quarter. Fulton Bank N.A. now owns 3,620 shares of the business services provider’s stock worth $425,000 after purchasing an additional 392 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of TD SYNNEX by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 642 shares of the business services provider’s stock worth $75,000 after purchasing an additional 176 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of TD SYNNEX by 37.0% in the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after purchasing an additional 813,634 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of TD SYNNEX by 39.0% in the third quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock worth $99,123,000 after purchasing an additional 231,715 shares in the last quarter. Finally, Brass Tax Wealth Management Inc. bought a new stake in shares of TD SYNNEX in the third quarter worth $203,000. 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.