TD SYNNEX (NYSE:SNX) Director Richard Hume Sells 5,000 Shares

TD SYNNEX Corporation (NYSE:SNX) Director Richard Hume sold 5,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $153.77, for a total value of $768,850.00. Following the sale, the director directly owned 47,515 shares of the company’s stock, valued at $7,306,381.55. This represents a 9.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

TD SYNNEX Price Performance

TD SYNNEX stock opened at $152.36 on Wednesday. The business’s fifty day moving average is $152.10 and its two-hundred day moving average is $149.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.71 and a current ratio of 1.20. The firm has a market cap of $12.41 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.05 and a beta of 1.37. TD SYNNEX Corporation has a 52 week low of $92.23 and a 52 week high of $167.76.

Institutional Trading of TD SYNNEX

A number of hedge funds have recently modified their holdings of SNX. Voya Investment Management LLC grew its holdings in shares of TD SYNNEX by 27.4% in the 1st quarter. Voya Investment Management LLC now owns 33,490 shares of the business services provider’s stock valued at $3,482,000 after buying an additional 7,212 shares during the period. CX Institutional raised its stake in TD SYNNEX by 28.9% during the 2nd quarter. CX Institutional now owns 15,434 shares of the business services provider’s stock worth $2,094,000 after buying an additional 3,457 shares during the period. Federated Hermes Inc. lifted its holdings in TD SYNNEX by 1.8% during the second quarter. Federated Hermes Inc. now owns 215,390 shares of the business services provider’s stock worth $29,228,000 after acquiring an additional 3,736 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. acquired a new position in TD SYNNEX in the second quarter valued at about $3,452,000. Finally, Curbstone Financial Management Corp bought a new stake in shares of TD SYNNEX in the second quarter worth about $400,000. 84.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on SNX shares. Zacks Research cut shares of TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of TD SYNNEX in a research note on Wednesday, October 8th. Wall Street Zen cut shares of TD SYNNEX from a “buy” rating to a “hold” rating in a research report on Monday, November 3rd. Morgan Stanley reduced their price objective on TD SYNNEX from $181.00 to $177.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Finally, UBS Group increased their price objective on TD SYNNEX from $154.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, September 29th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $169.18.

About TD SYNNEX

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.