Synnex Corp. (SNX) Director Fred A. Breidenbach Sells 1,116 Shares
Synnex Corp. (NYSE:SNX) Director Fred A. Breidenbach sold 1,116 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $114.06, for a total value of $127,290.96. Following the completion of the transaction, the director now owns 20,387 shares of the company’s stock, valued at approximately $2,325,341.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of Synnex Corp. (NYSE:SNX) opened at 112.08 on Wednesday. The company’s 50 day moving average price is $106.60 and its 200 day moving average price is $95.63. Synnex Corp. has a 52-week low of $75.87 and a 52-week high of $118.80. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of 21.12 and a beta of 1.10.
Synnex Corp. (NYSE:SNX) last posted its quarterly earnings results on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.17. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The company earned $3.67 billion during the quarter. During the same period last year, the business earned $1.47 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts forecast that Synnex Corp. will post $6.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, October 12th. Synnex Corp.’s dividend payout ratio (DPR) is presently 15.07%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. increased its position in shares of Synnex Corp. by 36.0% in the first quarter. UBS Asset Management Americas Inc. now owns 37,653 shares of the company’s stock worth $3,486,000 after buying an additional 9,966 shares during the last quarter. UBS Group AG increased its position in shares of Synnex Corp. by 153.6% in the first quarter. UBS Group AG now owns 14,731 shares of the company’s stock worth $1,364,000 after buying an additional 8,923 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Synnex Corp. during the first quarter worth $238,000. Investec Asset Management LTD increased its position in shares of Synnex Corp. by 3.1% in the first quarter. Investec Asset Management LTD now owns 528,559 shares of the company’s stock worth $48,939,000 after buying an additional 16,073 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Synnex Corp. by 834.4% in the first quarter. JPMorgan Chase & Co. now owns 517,500 shares of the company’s stock worth $47,915,000 after buying an additional 462,117 shares during the last quarter. 75.41% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Stifel Nicolaus upped their price target on Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Tuesday, September 27th. Citigroup Inc. upped their price target on Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, September 27th. Zacks Investment Research cut Synnex Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Needham & Company LLC restated a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Raymond James Financial Inc. restated a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $106.71.
Synnex Corp. Company Profile
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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