TD SYNNEX (NYSE:SNX) Stock Price Up 5.4% – Should You Buy?

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays raised their price target on shares of TD SYNNEX from $131.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, September 27th. Barrington Research reiterated an “outperform” rating and set a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. StockNews.com cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 18th. Loop Capital restated a “buy” rating and set a $150.00 price objective on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 price target on shares of TD SYNNEX in a report on Tuesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $134.75.

TD SYNNEX Trading Up 5.0 %

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 cap of $10.91 billion, a PE ratio of 16.59, a P/E/G ratio of 1.14 and a beta of 1.46. The business’s 50-day simple moving average is $119.77 and its 200-day simple moving average is $117.85.

Insiders Place Their Bets

In other news, CFO Marshall Witt sold 1,510 shares of the business’s stock in a transaction 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 in the company, valued at approximately $5,858,089.06. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard T. Hume sold 20,000 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were 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 owns 111,080 shares in the company, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,876 shares of company stock valued at $8,196,529 in the last three months. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On TD SYNNEX

Several hedge funds and other institutional investors have recently modified their holdings of SNX. V Square Quantitative Management LLC bought a new stake in TD SYNNEX in the third quarter valued at about $30,000. UMB Bank n.a. increased its stake in TD SYNNEX by 99.3% in the third quarter. UMB Bank n.a. now owns 289 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 144 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in TD SYNNEX in the third quarter worth $37,000. Ashton Thomas Private Wealth LLC bought a new position in shares of TD SYNNEX during the second quarter worth $52,000. Finally, Point72 DIFC Ltd bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at $55,000. 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.