TD SYNNEX (NYSE:SNX) Upgraded 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.

SNX has been the subject of a number of other research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price objective on shares of TD SYNNEX in a report on Tuesday, January 7th. 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. 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 report on Friday, September 27th. Barrington Research reissued an “outperform” rating and set a $138.00 price target on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, StockNews.com lowered TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TD SYNNEX currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.00.

TD SYNNEX Stock Performance

SNX stock opened at $134.16 on Friday. TD SYNNEX has a twelve month low of $98.70 and a twelve month high of $134.48. The firm has a market cap of $11.42 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.14 and a beta of 1.46. The business’s fifty day simple moving average is $120.14 and its two-hundred day simple moving average is $117.90. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Insiders Place Their Bets

In other news, Director Richard T. Hume sold 20,000 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $117.62, for a total transaction of $2,352,400.00. Following the transaction, the director now directly 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 hyperlink. Also, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the completion of the sale, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. The trade was a 21.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,876 shares of company stock worth $8,196,529. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in TD SYNNEX in the 3rd quarter worth approximately $30,000. UMB Bank n.a. lifted its position in 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 purchasing an additional 144 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in TD SYNNEX in the third quarter valued at $37,000. Ashton Thomas Private Wealth LLC acquired a new stake in TD SYNNEX during the 2nd quarter worth about $52,000. Finally, Point72 DIFC Ltd purchased a new position in shares of TD SYNNEX during the 3rd quarter valued at about $55,000. 84.00% of the stock is 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.