Prudential Financial Inc. boosted its stake in Synnex Corp. (NYSE:SNX) by 35.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 294,860 shares of the company’s stock after buying an additional 77,390 shares during the period. Prudential Financial Inc. owned approximately 0.74% of Synnex Corp. worth $27,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aperio Group LLC increased its position in shares of Synnex Corp. by 23.4% in the first quarter. Aperio Group LLC now owns 11,662 shares of the company’s stock worth $1,080,000 after buying an additional 2,211 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Synnex Corp. by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,805 shares of the company’s stock worth $2,019,000 after buying an additional 125 shares during the period. Teachers Advisors Inc. increased its position in shares of Synnex Corp. by 2.7% in the first quarter. Teachers Advisors Inc. now owns 42,554 shares of the company’s stock worth $3,940,000 after buying an additional 1,130 shares during the period. BlackRock Inc. increased its position in shares of Synnex Corp. by 41.5% in the first quarter. BlackRock Inc. now owns 15,987 shares of the company’s stock worth $1,480,000 after buying an additional 4,687 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Synnex Corp. by 44.1% in the first quarter. BlackRock Group LTD now owns 27,457 shares of the company’s stock worth $2,542,000 after buying an additional 8,404 shares during the period. Hedge funds and other institutional investors own 75.41% of the company’s stock.

Shares of Synnex Corp. (NYSE:SNX) traded up 1.11% during mid-day trading on Thursday, hitting $106.50. 15,801 shares of the stock were exchanged. The company has a market cap of $4.23 billion, a P/E ratio of 21.09 and a beta of 1.04. The stock’s 50-day moving average price is $104.29 and its 200-day moving average price is $94.77. Synnex Corp. has a 52-week low of $75.87 and a 52-week high of $108.03.

Synnex Corp. (NYSE:SNX) last issued its quarterly earnings data on Thursday, June 23rd. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.06. Synnex Corp. had a net margin of 1.50% and a return on equity of 13.22%. The firm had revenue of $3.38 billion for the quarter. During the same period in the previous year, the firm earned $1.55 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. Equities research analysts anticipate that Synnex Corp. will post $6.23 earnings per share for the current fiscal year.

SNX has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Synnex Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 25th. Raymond James Financial Inc. downgraded shares of Synnex Corp. from an “outperform” rating to a “market perform” rating in a research report on Wednesday, June 8th. Brean Capital reiterated a “buy” rating and issued a $108.00 price target (up from $97.00) on shares of Synnex Corp. in a research report on Friday, June 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a research report on Friday, June 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $100.60.

In other Synnex Corp. news, COO Dennis Polk sold 1,000 shares of Synnex Corp. stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $105.91, for a total transaction of $105,910.00. Following the completion of the sale, the chief operating officer now directly owns 59,697 shares in the company, valued at approximately $6,322,509.27. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin M. Murai sold 16,500 shares of Synnex Corp. stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $94.18, for a total transaction of $1,553,970.00. Following the sale, the chief executive officer now owns 138,234 shares of the company’s stock, valued at $13,018,878.12. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

About Synnex Corp.

SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.

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