Synnex Corp. (SNX) Insider Peter Larocque Sells 2,400 Shares of Stock
Synnex Corp. (NYSE:SNX) insider Peter Larocque sold 2,400 shares of the stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $111.28, for a total transaction of $267,072.00. Following the transaction, the insider now owns 17,293 shares in the company, valued at $1,924,365.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Synnex Corp. (NYSE:SNX) opened at 106.61 on Thursday. Synnex Corp. has a 12 month low of $75.87 and a 12 month high of $118.80. The firm has a market cap of $4.24 billion, a P/E ratio of 20.08 and a beta of 1.10. The firm has a 50-day moving average of $107.45 and a 200 day moving average of $96.19.
Synnex Corp. (NYSE:SNX) last posted its earnings results on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm earned $3.67 billion during the quarter. During the same quarter last year, the firm posted $1.47 earnings per share. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts anticipate that Synnex Corp. will post $6.57 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be issued a $0.25 dividend. This is a positive change from Synnex Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, October 12th. Synnex Corp.’s payout ratio is 15.07%.
A number of large investors have recently bought and sold shares of SNX. State Board of Administration of Florida Retirement System raised its stake in Synnex Corp. by 0.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 13,572 shares of the company’s stock valued at $1,287,000 after buying an additional 86 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its stake in 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 valued at $2,019,000 after buying an additional 125 shares during the period. United Services Automobile Association raised its stake in Synnex Corp. by 2.6% in the second quarter. United Services Automobile Association now owns 5,180 shares of the company’s stock valued at $491,000 after buying an additional 130 shares during the period. Ameritas Investment Partners Inc. raised its stake in Synnex Corp. by 2.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,802 shares of the company’s stock valued at $645,000 after buying an additional 153 shares during the period. Finally, Suntrust Banks Inc. raised its stake in Synnex Corp. by 5.6% in the second quarter. Suntrust Banks Inc. now owns 4,768 shares of the company’s stock valued at $452,000 after buying an additional 254 shares during the period. Hedge funds and other institutional investors own 75.41% of the company’s stock.
Several research analysts have recently weighed in on SNX shares. Zacks Investment Research upgraded shares of Synnex Corp. from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Wednesday, July 6th. Brean Capital restated a “buy” rating and issued a $108.00 price target (up previously from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Stifel Nicolaus raised their price target on shares of Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a report on Tuesday, September 27th. Needham & Company LLC restated a “hold” rating on shares of Synnex Corp. in a report on Tuesday, September 27th. Finally, Raymond James Financial Inc. restated a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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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