TD SYNNEX (NYSE:SNX) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of TD SYNNEX (NYSE:SNX - Free Report) in a research report report published on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $140.00 target price on the business services provider's stock.

A number of other research firms have also weighed in on SNX. Barclays raised their price objective on shares of TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a research note on Friday, September 27th. Loop Capital reaffirmed 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 restated an "outperform" rating and issued a $138.00 price target on shares of TD SYNNEX in a research note on Monday, September 23rd. Finally, StockNews.com cut TD SYNNEX from a "buy" rating to a "hold" rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, TD SYNNEX has an average rating of "Moderate Buy" and a consensus target price of $134.75.

TD SYNNEX Stock Up 3.9 %

NYSE:SNX traded up $4.62 during trading hours on Tuesday, reaching $122.92. 756,714 shares of the company traded hands, compared to its average volume of 531,779. TD SYNNEX has a 1 year low of $98.70 and a 1 year high of $133.85. 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 business's 50-day moving average price is $119.56 and its two-hundred day moving average price is $117.84. The stock has a market capitalization of $10.46 billion, a P/E ratio of 15.90, a P/E/G ratio of 1.14 and a beta of 1.46.

Insider Buying and Selling

In related news, Director Ann F. Vezina sold 1,937 shares of TD SYNNEX stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.11, for a total transaction of $234,590.07. Following the sale, the director now owns 5,695 shares of the company's stock, valued at approximately $689,721.45. This trade represents a 25.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard T. Hume sold 20,000 shares of the business'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 completion of the transaction, the director now directly owns 111,080 shares in the company, valued at $13,065,229.60. This trade represents a 15.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,466 shares of company stock valued at $9,115,980. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of TD SYNNEX

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of TD SYNNEX by 37.8% in the fourth quarter. GAMMA Investing LLC now owns 642 shares of the business services provider's stock worth $75,000 after buying an additional 176 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $361,707,000 after acquiring an additional 813,634 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of TD SYNNEX by 39.0% during the 3rd quarter. Lord Abbett & CO. LLC now owns 825,468 shares of the business services provider's stock valued at $99,123,000 after acquiring an additional 231,715 shares during the last quarter. Brass Tax Wealth Management Inc. purchased a new position in shares of TD SYNNEX in the third quarter valued at $203,000. Finally, Tidal Investments LLC increased its position in TD SYNNEX by 9.3% in the third quarter. Tidal Investments LLC now owns 17,121 shares of the business services provider's stock worth $2,056,000 after purchasing an additional 1,450 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.