Gregory L. Quesnel Sells 7,000 Shares of Synnex Corp. (SNX) Stock
Synnex Corp. (NYSE:SNX) Director Gregory L. Quesnel sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $111.98, for a total transaction of $783,860.00. Following the transaction, the director now owns 8,876 shares of the company’s stock, valued at $993,934.48. The transaction was disclosed in a filing with the SEC, which is available through this link.
Shares of Synnex Corp. (NYSE:SNX) opened at 112.68 on Friday. Synnex Corp. has a 1-year low of $75.87 and a 1-year high of $118.80. The company has a market capitalization of $4.43 billion, a price-to-earnings ratio of 21.23 and a beta of 1.10. The stock has a 50 day moving average of $107.13 and a 200-day moving average of $95.87.
Synnex Corp. (NYSE:SNX) last released its quarterly earnings data on Monday, September 26th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.17. Synnex Corp. had a net margin of 1.54% and a return on equity of 13.47%. The company earned $3.67 billion during the quarter. During the same quarter last year, the business posted $1.47 earnings per share. Synnex Corp.’s revenue was up 10.1% compared to the same quarter last year. Analysts forecast that Synnex Corp. will post $6.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be given a $0.25 dividend. This is a positive change from Synnex Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, October 12th. Synnex Corp.’s dividend payout ratio (DPR) is 15.07%.
Several institutional investors have recently added to or reduced their stakes in SNX. Acrospire Investment Management LLC raised its position in Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock worth $104,000 after buying an additional 300 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock worth $123,000 after buying an additional 600 shares during the period. Societe Generale purchased a new position in Synnex Corp. during the second quarter worth approximately $156,000. LS Investment Advisors LLC raised its position in Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock worth $164,000 after buying an additional 708 shares during the period. Finally, Pacer Advisors Inc. purchased a new position in Synnex Corp. during the second quarter worth approximately $175,000. Institutional investors own 75.41% of the company’s stock.
A number of research firms recently issued reports on SNX. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a research report on Friday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a research report on Friday, June 24th. Citigroup Inc. upped their price objective on shares of Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 27th. Brean Capital reiterated a “buy” rating and set a $124.00 price objective (up from $108.00) on shares of Synnex Corp. in a research report on Wednesday, September 28th. Finally, Credit Agricole SA upped their price objective on shares of Synnex Corp. from $88.00 to $113.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given 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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