TD SYNNEX’s (SNX) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research note released on Tuesday,Benzinga reports. They currently have a $140.00 price target on the business services provider’s stock.

SNX has been the topic of several other reports. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Barclays lifted their price target on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, September 27th. Loop Capital reissued a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research note on Monday, October 7th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $138.00 target price on shares of TD SYNNEX in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Stock Down 1.0 %

Shares of NYSE SNX opened at $122.01 on Tuesday. The firm has a market cap of $10.38 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The company’s 50-day simple moving average is $119.77 and its 200-day simple moving average is $117.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46. TD SYNNEX has a 52-week low of $98.70 and a 52-week high of $133.85.

Insider Transactions at TD SYNNEX

In other news, Director Richard T. Hume sold 20,000 shares of the firm’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 transaction of $2,352,400.00. Following the completion of the sale, the director now owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. This represents a 21.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,876 shares of company stock worth $8,196,529 in the last quarter. Company insiders own 1.90% of the company’s stock.

Institutional Trading of TD SYNNEX

Institutional investors and hedge funds have recently bought and sold shares of the stock. Commonwealth Equity Services LLC acquired a new stake in shares of TD SYNNEX during the second quarter valued at about $351,000. Victory Capital Management Inc. increased its holdings in TD SYNNEX by 52.3% in the 2nd quarter. Victory Capital Management Inc. now owns 331,992 shares of the business services provider’s stock valued at $38,312,000 after purchasing an additional 114,009 shares during the last quarter. Arizona State Retirement System raised its position in TD SYNNEX by 33.9% in the second quarter. Arizona State Retirement System now owns 21,519 shares of the business services provider’s stock valued at $2,483,000 after purchasing an additional 5,444 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in TD SYNNEX during the second quarter worth $52,000. Finally, Choreo LLC purchased a new position in shares of TD SYNNEX during the second quarter worth $376,000. 84.00% of the stock is currently owned by hedge funds and other 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.