Paloma Partners Management Co purchased a new position in Synnex Corporation (NYSE:SNX) during the first quarter, Holdings Channel reports. The fund purchased 4,852 shares of the business services provider’s stock, valued at approximately $543,000.

A number of other hedge funds have also modified their holdings of SNX. Credit Agricole S A acquired a new stake in shares of Synnex Corporation during the fourth quarter worth $388,000. Thrivent Financial for Lutherans boosted its stake in shares of Synnex Corporation by 11.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 5,030 shares of the business services provider’s stock worth $609,000 after buying an additional 500 shares in the last quarter. Norges Bank acquired a new stake in shares of Synnex Corporation during the fourth quarter worth $56,714,000. Teachers Advisors LLC boosted its stake in shares of Synnex Corporation by 58.5% in the fourth quarter. Teachers Advisors LLC now owns 75,143 shares of the business services provider’s stock worth $9,094,000 after buying an additional 27,726 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its stake in shares of Synnex Corporation by 8.3% in the first quarter. Capstone Asset Management Co. now owns 3,778 shares of the business services provider’s stock worth $423,000 after buying an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Shares of Synnex Corporation (NYSE:SNX) opened at 120.74 on Monday. Synnex Corporation has a 1-year low of $98.07 and a 1-year high of $131.35. The firm has a market cap of $4.82 billion, a PE ratio of 17.33 and a beta of 1.05. The stock has a 50 day moving average of $115.14 and a 200 day moving average of $116.31.

Synnex Corporation (NYSE:SNX) last announced its quarterly earnings results on Thursday, June 22nd. The business services provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.29. Synnex Corporation had a net margin of 1.86% and a return on equity of 16.29%. The company had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts anticipate that Synnex Corporation will post $8.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, July 12th. Synnex Corporation’s dividend payout ratio (DPR) is 14.35%.

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SNX has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Synnex Corporation from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Thursday, March 30th. Stifel Nicolaus upgraded shares of Synnex Corporation from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Wednesday, April 12th. They noted that the move was a valuation call. Raymond James Financial, Inc. upgraded shares of Synnex Corporation from a “market perform” rating to a “strong-buy” rating and set a $122.00 price target for the company in a research note on Friday, May 19th. Citigroup Inc. decreased their price target on shares of Synnex Corporation from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Friday, June 9th. Finally, BidaskClub upgraded shares of Synnex Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Synnex Corporation currently has a consensus rating of “Buy” and an average price target of $126.00.

In other news, Director Andrea M. Zulberti sold 2,500 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $126.00, for a total transaction of $315,000.00. Following the completion of the transaction, the director now owns 14,922 shares of the company’s stock, valued at $1,880,172. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Simon Leung sold 971 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $108.78, for a total transaction of $105,625.38. Following the transaction, the senior vice president now directly owns 28,078 shares of the company’s stock, valued at approximately $3,054,324.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,324 shares of company stock valued at $2,373,633. Corporate insiders own 3.20% of the company’s stock.

Synnex Corporation Company Profile

Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.

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Institutional Ownership by Quarter for Synnex Corporation (NYSE:SNX)

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