TD SYNNEX (NYSE:SNX) Rating Increased to Buy at Cfra

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

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

TD SYNNEX Stock Performance

Shares of SNX stock opened at $134.16 on Friday. The stock has a market cap of $11.42 billion, a P/E ratio of 17.36, a P/E/G ratio of 1.14 and a beta of 1.46. 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 fifty day moving average price of $119.77 and a two-hundred day moving average price of $117.85. TD SYNNEX has a one year low of $98.70 and a one year high of $134.48.

Insider Buying and Selling

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now directly owns 23,339 shares of the company’s stock, valued at $2,874,664.63. This trade represents a 21.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 111,080 shares in the company, valued at approximately $13,065,229.60. This represents a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,876 shares of company stock valued at $8,196,529. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Several hedge funds have recently bought and sold shares of the company. FMR LLC increased its holdings in TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after buying an additional 1,154,651 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of TD SYNNEX by 37.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of TD SYNNEX by 58.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after purchasing an additional 1,006,569 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of TD SYNNEX by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,239,852 shares of the business services provider’s stock valued at $258,482,000 after purchasing an additional 177,460 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of TD SYNNEX by 0.7% during the 3rd quarter. State Street Corp now owns 2,189,732 shares of the business services provider’s stock valued at $262,943,000 after purchasing an additional 15,995 shares during the last quarter. 84.00% of the stock is owned by institutional investors.

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.