TD SYNNEX (NYSE:SNX) Stock Rating Upgraded by Cfra

TD SYNNEX (NYSE:SNX) was upgraded by analysts at Cfra from a “hold” rating to a “buy” rating in a research report issued on Friday,Benzinga reports. The firm currently has a $147.00 target price on the business services provider’s stock, up from their previous target price of $122.00. Cfra’s target price would suggest a potential upside of 11.74% from the stock’s previous close.

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

TD SYNNEX Stock Up 7.7 %

Shares of SNX traded up $9.45 during mid-day trading on Friday, reaching $131.55. The company’s stock had a trading volume of 685,522 shares, compared to its average volume of 593,688. The company has a market cap of $11.19 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. The business has a fifty day moving average of $119.77 and a 200 day moving average of $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 1 year low of $98.70 and a 1 year high of $133.85.

Insider Activity at TD SYNNEX

In related news, Director Richard T. Hume sold 20,000 shares of TD SYNNEX stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $120.72, for a total transaction of $2,414,400.00. Following the sale, the director now directly owns 171,080 shares of the company’s stock, valued at $20,652,777.60. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the company’s 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 completion of the transaction, the chief financial officer now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 67,876 shares of company stock worth $8,196,529 in the last 90 days. 1.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On TD SYNNEX

Hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in TD SYNNEX by 18.4% in the third quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after purchasing an additional 1,154,651 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of TD SYNNEX by 58.9% in 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 period. JPMorgan Chase & Co. raised its holdings in shares of TD SYNNEX by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock worth $361,707,000 after buying an additional 813,634 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of TD SYNNEX by 560.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after buying an additional 315,424 shares during the period. Finally, AQR Capital Management LLC boosted its stake in TD SYNNEX by 21.1% in 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 in the last quarter. Institutional investors and hedge funds own 84.00% of the company’s stock.

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.