Synnex Corporation (SNX) CEO Kevin M. Murai Sells 2,000 Shares of Stock
Synnex Corporation (NYSE:SNX) CEO Kevin M. Murai sold 2,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $128.81, for a total value of $257,620.00. Following the completion of the transaction, the chief executive officer now directly owns 144,125 shares in the company, valued at $18,564,741.25. The sale was disclosed in a filing with the SEC, which is available through this link.
Synnex Corporation (NYSE SNX) traded down $0.32 during trading hours on Friday, hitting $131.50. The stock had a trading volume of 130,936 shares, compared to its average volume of 204,324. The company has a market cap of $5,161.90, a P/E ratio of 14.97 and a beta of 1.09. The company has a current ratio of 1.61, a quick ratio of 0.80 and a debt-to-equity ratio of 0.25. Synnex Corporation has a 1 year low of $101.48 and a 1 year high of $135.87.
Synnex Corporation (NYSE:SNX) last announced its quarterly earnings data on Monday, September 25th. The business services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.19. Synnex Corporation had a return on equity of 16.58% and a net margin of 1.89%. The business had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period in the prior year, the company earned $1.73 EPS. Synnex Corporation’s revenue for the quarter was up 16.5% on a year-over-year basis. analysts expect that Synnex Corporation will post 8.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were given a dividend of $0.30 per share. This is an increase from Synnex Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, October 12th. Synnex Corporation’s dividend payout ratio is currently 16.28%.
Several hedge funds have recently made changes to their positions in SNX. Advisor Group Inc. lifted its position in shares of Synnex Corporation by 50.1% during the 2nd 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Synnex Corporation by 9.4% during the 2nd 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 last quarter. PNC Financial Services Group Inc. lifted its position in shares of Synnex Corporation by 8.8% during the 1st 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 last quarter. Ronald Blue & Co. LLC bought a new stake in shares of Synnex Corporation during the 2nd quarter worth $203,000. Finally, Opus Capital Group LLC bought a new stake in shares of Synnex Corporation during the 2nd quarter worth $219,000. Institutional investors and hedge funds own 71.89% of the company’s stock.
A number of analysts have recently weighed in on SNX shares. Stifel Nicolaus reiterated a “buy” rating and set a $132.00 target price on shares of Synnex Corporation in a research report on Tuesday, October 17th. Pivotal Research started coverage on Synnex Corporation in a research report on Friday, October 6th. They set a “hold” rating and a $137.00 target price for the company. ValuEngine upgraded Synnex Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Loop Capital upped their target price on Synnex Corporation from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. Finally, Citigroup Inc. upped their target price on Synnex Corporation from $122.00 to $130.00 and gave the company a “neutral” rating in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Synnex Corporation currently has an average rating of “Buy” and a consensus target price of $135.13.
About Synnex Corporation
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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