TD SYNNEX (NYSE:SNX) Shares Up 5.4% – What’s Next?

TD SYNNEX Co. (NYSE:SNX) rose 5.4% during trading on Friday . The company traded as high as $129.01 and last traded at $128.66. 78,568 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 496,267 shares. The stock had previously closed at $122.10.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Loop Capital reissued a “buy” rating and issued a $150.00 price target on shares of TD SYNNEX in a research report on Monday, October 7th. Royal Bank of Canada restated an “outperform” rating and issued a $140.00 price objective on shares of TD SYNNEX in a research note on Tuesday, January 7th. StockNews.com downgraded shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Cfra upgraded TD SYNNEX from a “hold” rating to a “buy” rating and boosted their price target for the company from $122.00 to $147.00 in a research report on Friday. Finally, Barclays lifted their target price on TD SYNNEX from $131.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $139.00.

TD SYNNEX Stock Performance

The stock has a market capitalization 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 stock has a 50 day moving average of $120.14 and a two-hundred day moving average of $117.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the completion of the transaction, the director now directly owns 171,080 shares of the company’s stock, valued at approximately $20,652,777.60. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $121.13, for a total value of $182,906.30. Following the sale, the chief financial officer now owns 48,362 shares in the company, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,876 shares of company stock worth $8,196,529 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNX. V Square Quantitative Management LLC purchased a new position in TD SYNNEX during the 3rd quarter valued at about $30,000. UMB Bank n.a. increased its stake in shares of TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock worth $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of TD SYNNEX during the 3rd quarter worth approximately $37,000. Ashton Thomas Private Wealth LLC purchased a new stake in TD SYNNEX in the 2nd quarter valued at approximately $52,000. Finally, Point72 DIFC Ltd purchased a new position in TD SYNNEX during the third quarter worth $55,000. 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.