TD SYNNEX (NYSE:SNX) Trading 5.4% Higher – Should You Buy?

TD SYNNEX Co. (NYSE:SNX)’s share price shot up 5.4% during mid-day trading on Friday . The stock traded as high as $129.01 and last traded at $128.66. 78,568 shares changed hands during trading, a decline of 84% from the average session volume of 496,267 shares. The stock had previously closed at $122.10.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SNX. Loop Capital reissued a “buy” rating and issued a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Barrington Research reaffirmed an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Barclays increased their target price on TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Cfra raised shares of TD SYNNEX from a “hold” rating to a “buy” rating and raised their target price for the stock from $122.00 to $147.00 in a research report on Friday. Three research 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.00.

TD SYNNEX Stock Performance

The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The firm has a market cap 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’s 50 day moving average price is $120.14 and its 200 day moving average price is $117.89.

Insider Activity at TD SYNNEX

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of the company’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David R. Vetter sold 20,000 shares of TD SYNNEX stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $123.14, for a total transaction of $2,462,800.00. Following the sale, the insider now owns 66,381 shares in the company, valued at $8,174,156.34. This represents a 23.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 67,876 shares of company stock worth $8,196,529. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNX. FMR LLC grew its stake in shares of TD SYNNEX by 18.4% during the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock valued at $891,665,000 after acquiring an additional 1,154,651 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in TD SYNNEX by 58.9% in the second 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. JPMorgan Chase & Co. increased its holdings in 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 worth $361,707,000 after purchasing an additional 813,634 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of TD SYNNEX by 560.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock valued at $44,639,000 after purchasing an additional 315,424 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of TD SYNNEX by 21.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock valued at $178,421,000 after buying an additional 269,759 shares during the last quarter. Hedge funds and other institutional investors 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.