TD SYNNEX (NYSE:SNX) Given Outperform Rating at Royal Bank of Canada

TD SYNNEX (NYSE:SNX - Get Free Report)'s stock had its "outperform" rating reissued by stock analysts at Royal Bank of Canada in a note issued to investors on Wednesday,Benzinga reports. They presently have a $140.00 price objective on the business services provider's stock. Royal Bank of Canada's price target would suggest a potential upside of 2.75% from the company's current price.

SNX has been the subject of several other reports. Loop Capital reiterated a "buy" rating and set a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. Barclays upped their price objective on TD SYNNEX from $132.00 to $148.00 and gave the company an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of TD SYNNEX from $135.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday. Barrington Research reiterated an "outperform" rating and set a $138.00 price objective on shares of TD SYNNEX in a research report on Monday, September 23rd. Finally, Cfra upgraded shares of TD SYNNEX from a "hold" rating to a "buy" rating and lifted their price target for the stock from $122.00 to $147.00 in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $144.38.

TD SYNNEX Stock Up 0.2 %

Shares of SNX stock traded up $0.21 during midday trading on Wednesday, reaching $136.25. 1,007,625 shares of the stock were exchanged, compared to its average volume of 830,669. TD SYNNEX has a 1 year low of $98.70 and a 1 year high of $138.04. The firm has a market cap of $11.59 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46. 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's 50 day moving average is $120.83 and its two-hundred day moving average is $118.16.

Insider Activity

In other TD SYNNEX news, insider Simon Leung sold 6,249 shares of TD SYNNEX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $123.17, for a total value of $769,689.33. Following the transaction, the insider now owns 23,339 shares in the company, valued at $2,874,664.63. The trade was a 21.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David R. Vetter sold 20,000 shares of the firm's stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,876 shares of company stock worth $5,782,129. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of TD SYNNEX

Several hedge funds and other institutional investors have recently made changes to their positions in SNX. HB Wealth Management LLC purchased a new stake in TD SYNNEX in the fourth quarter valued at about $279,000. Ritholtz Wealth Management boosted its stake in TD SYNNEX by 10.6% in the 4th quarter. Ritholtz Wealth Management now owns 2,519 shares of the business services provider's stock worth $295,000 after purchasing an additional 241 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in TD SYNNEX during the 4th quarter worth approximately $2,260,000. Benson Investment Management Company Inc. increased its position in shares of TD SYNNEX by 0.6% in the 4th quarter. Benson Investment Management Company Inc. now owns 33,360 shares of the business services provider's stock valued at $3,912,000 after acquiring an additional 207 shares during the period. Finally, Fulton Bank N.A. raised its stake in shares of TD SYNNEX by 12.1% in the fourth quarter. Fulton Bank N.A. now owns 3,620 shares of the business services provider's stock worth $425,000 after purchasing an additional 392 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.