Insider Selling: TD SYNNEX Co. (NYSE:SNX) Director Sells 20,000 Shares of 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 shares were sold at an average price of $117.62, for a total value of $2,352,400.00. Following the completion of the transaction, the director now directly owns 111,080 shares of the company’s stock, valued at $13,065,229.60. The trade was a 15.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

TD SYNNEX Trading Up 0.3 %

Shares of TD SYNNEX stock traded up $0.31 during trading hours on Monday, hitting $118.24. The company’s stock had a trading volume of 462,183 shares, compared to its average volume of 456,728. The stock has a 50 day moving average of $119.63 and a 200 day moving average of $117.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.25 and a quick ratio of 0.77. TD SYNNEX Co. has a 12 month low of $98.70 and a 12 month high of $133.85. The company has a market capitalization of $10.06 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.14 and a beta of 1.46.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Hancock Whitney Corp grew its holdings in TD SYNNEX by 57.9% during the second quarter. Hancock Whitney Corp now owns 16,929 shares of the business services provider’s stock worth $1,954,000 after purchasing an additional 6,207 shares during the period. ClariVest Asset Management LLC raised its stake in TD SYNNEX by 45,552.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 16,435 shares of the business services provider’s stock worth $1,897,000 after purchasing an additional 16,399 shares in the last quarter. Pathstone Holdings LLC increased its stake in TD SYNNEX by 45.2% during the 3rd quarter. Pathstone Holdings LLC now owns 18,300 shares of the business services provider’s stock worth $2,197,000 after acquiring an additional 5,698 shares during the period. Intech Investment Management LLC acquired a new position in TD SYNNEX in the second quarter valued at about $1,634,000. Finally, Meeder Asset Management Inc. increased its stake in TD SYNNEX by 4,293.7% in the second quarter. Meeder Asset Management Inc. now owns 13,840 shares of the business services provider’s stock valued at $1,597,000 after acquiring an additional 13,525 shares during the last quarter. 84.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SNX has been the topic of several research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $140.00 target price on shares of TD SYNNEX 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 report on Wednesday, December 18th. Loop Capital reiterated a “buy” rating and issued a $150.00 target price on shares of TD SYNNEX in a research report on Monday, October 7th. Finally, Barclays raised 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 report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.75.

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.