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.

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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.

Insider Buying and Selling by Quarter for Synnex Corporation (NYSE:SNX)

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