Synnex Corp. (SNX) Director Gregory L. Quesnel Sells 2,000 Shares
Synnex Corp. (NYSE:SNX) Director Gregory L. Quesnel sold 2,000 shares of Synnex Corp. stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $112.87, for a total transaction of $225,740.00. Following the completion of the sale, the director now owns 8,011 shares in the company, valued at approximately $904,201.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Synnex Corp. (NYSE:SNX) opened at 112.01 on Thursday. The stock has a market capitalization of $4.41 billion, a P/E ratio of 21.10 and a beta of 1.10. Synnex Corp. has a 52 week low of $75.87 and a 52 week high of $118.80. The firm’s 50-day moving average is $106.85 and its 200-day moving average is $95.75.
Synnex Corp. (NYSE:SNX) last announced its quarterly earnings data on Monday, September 26th. The company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.17. The company earned $3.67 billion during the quarter. Synnex Corp. had a net margin of 1.54% and a return on equity of 13.47%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 EPS. On average, equities research analysts predict that Synnex Corp. will post $6.57 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.89%. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s dividend payout ratio is presently 15.07%.
Several analysts have recently issued reports on SNX shares. Zacks Investment Research upgraded shares of Synnex Corp. from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a research report on Friday, September 9th. Brean Capital reiterated a “buy” rating and issued a $124.00 target price (up previously from $108.00) on shares of Synnex Corp. in a research report on Wednesday, September 28th. Citigroup Inc. lifted their target price on shares of Synnex Corp. from $103.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, September 27th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a research report on Saturday, June 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a research report on Tuesday, September 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $106.71.
A number of institutional investors have recently made changes to their positions in SNX. 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 last quarter. 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 last quarter. 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 last quarter. Prudential Financial Inc. increased its position in shares of Synnex Corp. by 62.8% in the first quarter. Prudential Financial Inc. now owns 217,470 shares of the company’s stock worth $20,135,000 after buying an additional 83,890 shares during the last quarter. Finally, 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 last quarter. Institutional investors own 75.41% 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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