TD SYNNEX (NYSE:SNX) Director Sells $768,850.00 in Stock

TD SYNNEX Corporation (NYSE:SNX) Director Richard Hume sold 5,000 shares of TD SYNNEX stock in a transaction on Monday, January 5th. The shares were sold at an average price of $153.77, for a total transaction of $768,850.00. Following the completion of the sale, the director owned 47,515 shares in the company, valued at approximately $7,306,381.55. This represents a 9.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

TD SYNNEX Price Performance

Shares of SNX stock traded down $0.78 during trading hours on Tuesday, hitting $152.36. The stock had a trading volume of 1,132,717 shares, compared to its average volume of 725,365. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.20 and a quick ratio of 0.71. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.05 and a beta of 1.37. TD SYNNEX Corporation has a one year low of $92.23 and a one year high of $167.76. The stock’s 50-day moving average price is $152.10 and its two-hundred day moving average price is $149.73.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of TD SYNNEX in the second quarter worth approximately $124,618,000. Metropolis Capital Ltd purchased a new stake in shares of TD SYNNEX in the second quarter valued at approximately $115,168,000. Alyeska Investment Group L.P. bought a new position in TD SYNNEX in the third quarter worth approximately $135,631,000. Vanguard Group Inc. increased its holdings in TD SYNNEX by 10.1% during the 2nd quarter. Vanguard Group Inc. now owns 8,248,639 shares of the business services provider’s stock worth $1,119,340,000 after purchasing an additional 759,022 shares during the period. Finally, Victory Capital Management Inc. raised its position in TD SYNNEX by 123.6% during the 3rd quarter. Victory Capital Management Inc. now owns 728,321 shares of the business services provider’s stock valued at $119,263,000 after purchasing an additional 402,573 shares in the last quarter. Hedge funds and other institutional investors own 84.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SNX shares. Wall Street Zen lowered shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Monday, November 3rd. Barrington Research increased their price target on shares of TD SYNNEX from $156.00 to $182.00 and gave the company an “outperform” rating in a report on Monday, September 29th. Raymond James Financial set a $175.00 price target on TD SYNNEX in a research report on Thursday, September 25th. Royal Bank Of Canada restated an “outperform” rating on shares of TD SYNNEX in a research report on Monday, December 22nd. Finally, Bank of America lifted their target price on TD SYNNEX from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, September 26th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $169.18.

TD SYNNEX Company Profile

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.