Insider Selling: TD SYNNEX Co. (NYSE:SNX) Director Sells $2,352,400.00 in Stock

TD SYNNEX Co. (NYSE:SNX) 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 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 Securities & Exchange Commission, which is available through the SEC website.

TD SYNNEX Trading Down 1.0 %

NYSE SNX opened at $122.01 on Thursday. The firm has a market capitalization of $10.38 billion, a PE ratio of 15.78, a P/E/G ratio of 1.14 and a beta of 1.46. The stock’s 50 day moving average is $119.63 and its 200 day moving average is $117.82. TD SYNNEX Co. has a twelve month low of $98.70 and a twelve month high of $133.85. The company has a quick ratio of 0.77, a current ratio of 1.25 and a debt-to-equity ratio of 0.46.

Institutional Trading of TD SYNNEX

A number of hedge funds have recently modified their holdings of SNX. FMR LLC increased its stake in shares of TD SYNNEX by 18.4% in the 3rd quarter. FMR LLC now owns 7,425,592 shares of the business services provider’s stock worth $891,665,000 after acquiring an additional 1,154,651 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of TD SYNNEX by 58.9% during the second quarter. Pacer Advisors Inc. now owns 2,716,372 shares of the business services provider’s stock valued at $313,469,000 after purchasing an additional 1,006,569 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 813,634 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of TD SYNNEX by 560.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 371,747 shares of the business services provider’s stock worth $44,639,000 after purchasing an additional 315,424 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of TD SYNNEX by 21.1% in the 2nd quarter. AQR Capital Management LLC now owns 1,546,105 shares of the business services provider’s stock worth $178,421,000 after buying an additional 269,759 shares during the last quarter. Institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SNX. Loop Capital reaffirmed a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research note on Monday, October 7th. Barclays upped 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. StockNews.com cut TD SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Barrington Research reiterated an “outperform” rating and issued a $138.00 price objective on shares of TD SYNNEX in a report on Monday, September 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $140.00 target price on shares of TD SYNNEX in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.75.

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.