TD SYNNEX (NYSE:SNX) Trading Up 5.4% - Time to Buy?

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SNX shares. Cfra raised TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price objective for the company from $122.00 to $147.00 in a research report on Friday. 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 price objective on shares of TD SYNNEX in a research report on Tuesday. Barclays lifted their price objective 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $139.00.

TD SYNNEX Stock Performance

The stock has a 50 day simple moving average of $119.77 and a 200 day simple moving average of $117.85. The company has a market cap of $11.42 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 1.14 and a beta of 1.46. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Insiders Place Their Bets

In related news, Director Richard T. Hume sold 20,000 shares of the business's stock in a transaction dated 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 transaction, the director now owns 111,080 shares in the company, valued at approximately $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Marshall Witt sold 1,510 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was 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 owns 48,362 shares in the company, 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 have sold a total of 67,876 shares of company stock worth $8,196,529 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNX. Commonwealth Equity Services LLC acquired a new position in shares of TD SYNNEX in the second quarter worth about $351,000. Ashton Thomas Private Wealth LLC acquired a new stake in TD SYNNEX during the second quarter valued at approximately $52,000. Choreo LLC acquired a new stake in TD SYNNEX during the second quarter valued at approximately $376,000. Daiwa Securities Group Inc. raised its stake in TD SYNNEX by 50.0% during the second quarter. Daiwa Securities Group Inc. now owns 900 shares of the business services provider's stock valued at $104,000 after buying an additional 300 shares in the last quarter. Finally, ClariVest Asset Management LLC raised its stake in TD SYNNEX by 45,552.8% during the second quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider's stock valued at $1,897,000 after buying an additional 16,399 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.