Hillsdale Investment Management Inc. cut its holdings in Synnex Corporation (NYSE:SNX) by 90.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 800 shares of the business services provider’s stock after selling 7,600 shares during the period. Hillsdale Investment Management Inc.’s holdings in Synnex were worth $101,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. FMR LLC boosted its holdings in Synnex by 5.7% in the second quarter. FMR LLC now owns 5,587,157 shares of the business services provider’s stock worth $670,236,000 after purchasing an additional 302,301 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Synnex by 2.3% in the second quarter. Vanguard Group Inc. now owns 3,221,813 shares of the business services provider’s stock worth $386,489,000 after purchasing an additional 71,317 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Synnex by 13.3% in the second quarter. Goldman Sachs Group Inc. now owns 1,315,521 shares of the business services provider’s stock worth $157,810,000 after purchasing an additional 154,174 shares in the last quarter. State Street Corp boosted its holdings in Synnex by 3.8% in the second quarter. State Street Corp now owns 993,336 shares of the business services provider’s stock worth $119,164,000 after purchasing an additional 36,210 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Synnex by 189.1% in the third quarter. Victory Capital Management Inc. now owns 439,603 shares of the business services provider’s stock worth $55,614,000 after purchasing an additional 287,522 shares in the last quarter. Hedge funds and other institutional investors own 71.68% of the company’s stock.

A number of research firms have weighed in on SNX. Zacks Investment Research lowered shares of Synnex from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Stifel Nicolaus reissued a “buy” rating and set a $132.00 target price on shares of Synnex in a research report on Tuesday, October 17th. Pivotal Research began coverage on shares of Synnex in a research report on Friday, October 6th. They set a “hold” rating and a $137.00 target price for the company. ValuEngine raised shares of Synnex from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, Loop Capital boosted their target price on shares of Synnex from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Synnex has an average rating of “Buy” and an average price target of $135.13.

Synnex Corporation (NYSE SNX) traded down $2.09 during trading on Friday, reaching $134.20. 142,121 shares of the company’s stock were exchanged, compared to its average volume of 168,972. The firm has a market cap of $5,363.30, a price-to-earnings ratio of 15.55 and a beta of 1.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 1.61. Synnex Corporation has a 52-week low of $101.48 and a 52-week high of $137.80.

Synnex (NYSE:SNX) last announced its quarterly earnings data on Monday, September 25th. The business services provider reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.19. The business had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4 billion. Synnex had a net margin of 1.89% and a return on equity of 16.58%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. analysts forecast that Synnex Corporation will post 8.79 earnings per share for the current year.

In other news, CEO Kevin M. Murai sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $113.66, for a total transaction of $227,320.00. Following the completion of the transaction, the chief executive officer now owns 142,311 shares of the company’s stock, valued at $16,175,068.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Dennis Polk sold 1,500 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $135.39, for a total transaction of $203,085.00. Following the transaction, the chief operating officer now directly owns 20,374 shares of the company’s stock, valued at approximately $2,758,435.86. The disclosure for this sale can be found here. Insiders have sold 12,721 shares of company stock valued at $1,629,475 in the last ninety days. 3.20% of the stock is owned by company insiders.

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Synnex 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 (NYSE:SNX)

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