Synnex Corporation (SNX) CEO Kevin M. Murai Sells 2,000 Shares
Synnex Corporation (NYSE:SNX) CEO Kevin M. Murai sold 2,000 shares of Synnex Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $113.66, for a total value of $227,320.00. Following the sale, the chief executive officer now directly owns 142,311 shares of the company’s stock, valued at approximately $16,175,068.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Synnex Corporation (NYSE:SNX) traded up 0.43% during trading on Thursday, hitting $115.60. The company’s stock had a trading volume of 83,629 shares. The company has a 50-day moving average of $116.74 and a 200 day moving average of $114.91. The firm has a market cap of $4.62 billion, a PE ratio of 16.59 and a beta of 1.05. Synnex Corporation has a one year low of $100.06 and a one year high of $131.35.
Synnex Corporation (NYSE:SNX) last announced its earnings results on Thursday, June 22nd. The business services provider reported $2.08 earnings per share for the quarter, topping 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 business had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the firm earned $1.37 earnings per share. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, equities analysts forecast that Synnex Corporation will post $8.38 earnings per share for the current year.
Synnex Corporation announced that its Board of Directors has authorized a stock repurchase program on Thursday, June 22nd that allows the company to buyback $300.00 million in shares. This buyback authorization allows the business services provider to buy up to 6.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
TRADEMARK VIOLATION WARNING: This report was originally reported by Daily Political and is owned by of Daily Political. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.dailypolitical.com/2017/09/14/synnex-corporation-snx-ceo-kevin-m-murai-sells-2000-shares.html.
Institutional investors and hedge funds have recently made changes to their positions in the company. Advisor Group Inc. boosted its stake in shares of Synnex Corporation by 50.1% during the second quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock worth $112,000 after buying an additional 310 shares during the period. US Bancorp DE boosted its stake in shares of Synnex Corporation by 34.3% during the first quarter. US Bancorp DE now owns 1,112 shares of the business services provider’s stock worth $124,000 after buying an additional 284 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Synnex Corporation by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock worth $135,000 after buying an additional 96 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Synnex Corporation by 8.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,310 shares of the business services provider’s stock worth $147,000 after buying an additional 106 shares during the period. Finally, Invictus RG acquired a new stake in shares of Synnex Corporation during the first quarter worth about $196,000. Institutional investors and hedge funds own 71.39% of the company’s stock.
A number of analysts have commented on the company. Loop Capital assumed coverage on Synnex Corporation in a research report on Thursday, August 24th. They set a “buy” rating and a $140.00 price target for the company. Zacks Investment Research cut Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. BidaskClub cut Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $132.00 price target on shares of Synnex Corporation in a research report on Thursday, August 3rd. Finally, Citigroup Inc. reiterated a “neutral” rating and set a $133.00 price objective (up previously from $122.00) on shares of Synnex Corporation in a research note on Sunday, June 25th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $128.57.
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.
Receive News & Ratings for Synnex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synnex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.