Royal Bank of Canada Reaffirms Outperform Rating for TD SYNNEX (NYSE:SNX)

TD SYNNEX (NYSE:SNX)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They presently have a $140.00 price objective on the business services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 15.75% from the stock’s previous close.

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

TD SYNNEX Trading Up 2.2 %

NYSE:SNX traded up $2.65 on Tuesday, reaching $120.95. The stock had a trading volume of 113,962 shares, compared to its average volume of 361,465. The firm’s fifty day moving average is $119.56 and its two-hundred day moving average is $117.84. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 1.14 and a beta of 1.46. TD SYNNEX has a 12-month low of $98.70 and a 12-month high of $133.85.

Insider Activity

In related news, Director Richard T. Hume sold 20,000 shares of the stock in a transaction dated Friday, January 3rd. The stock was 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 of the company’s stock, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Marshall Witt sold 1,510 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $121.13, for a total value of $182,906.30. Following the transaction, the chief financial officer now owns 48,362 shares of the company’s stock, valued at approximately $5,858,089.06. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,466 shares of company stock worth $9,115,980. 1.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in TD SYNNEX during the 3rd quarter worth $30,000. UMB Bank n.a. raised its holdings in shares of TD SYNNEX by 99.3% during the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after buying an additional 144 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in TD SYNNEX in the 3rd quarter worth approximately $37,000. Ashton Thomas Private Wealth LLC acquired a new stake in TD SYNNEX in the 2nd quarter valued at approximately $52,000. Finally, Point72 DIFC Ltd acquired a new position in TD SYNNEX during the 3rd 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.