TD SYNNEX’s (SNX) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of TD SYNNEX (NYSE:SNX) in a research report released on Tuesday,Benzinga reports. The firm currently has a $140.00 price objective on the business services provider’s stock.

Several other equities analysts also recently commented on the company. Barclays increased 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. Loop Capital reiterated a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. StockNews.com downgraded TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Finally, Barrington Research restated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $134.75.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $122.92 on Tuesday. 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 company has a market capitalization of $10.46 billion, a PE ratio of 15.90, 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. The stock has a 50-day moving average price of $119.58 and a two-hundred day moving average price of $117.79.

Insider Buying and Selling

In other TD SYNNEX news, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 111,080 shares of the company’s stock, valued at approximately $13,065,229.60. This trade represents a 15.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 1,510 shares of the firm’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 sale, the chief financial officer now directly owns 48,362 shares of the company’s stock, valued at $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 67,876 shares of company stock valued at $8,196,529 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its position in shares of TD SYNNEX by 37.8% during the fourth quarter. GAMMA Investing LLC now owns 642 shares of the business services provider’s stock valued at $75,000 after buying an additional 176 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of TD SYNNEX by 37.0% during the third quarter. JPMorgan Chase & Co. now owns 3,012,219 shares of the business services provider’s stock valued at $361,707,000 after buying an additional 813,634 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in shares of TD SYNNEX by 39.0% during the third quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider’s stock valued at $99,123,000 after buying an additional 231,715 shares during the last quarter. Brass Tax Wealth Management Inc. purchased a new position in shares of TD SYNNEX during the third quarter valued at approximately $203,000. Finally, Tidal Investments LLC boosted its position in shares of TD SYNNEX by 9.3% during the third quarter. Tidal Investments LLC now owns 17,121 shares of the business services provider’s stock valued at $2,056,000 after buying an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors 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.