Insider Selling: Synnex Corporation (SNX) Director Sells 1,500 Shares of Stock
Synnex Corporation (NYSE:SNX) Director Andrea M. Zulberti sold 1,500 shares of Synnex stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $137.91, for a total value of $206,865.00. Following the completion of the transaction, the director now directly owns 13,922 shares of the company’s stock, valued at $1,919,983.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Synnex Corporation (NYSE SNX) opened at $134.70 on Thursday. The firm has a market capitalization of $5,380.00, a PE ratio of 17.94 and a beta of 1.08. Synnex Corporation has a twelve month low of $101.48 and a twelve month high of $141.94. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50.
Synnex (NYSE:SNX) last announced its quarterly earnings data on Tuesday, January 9th. The business services provider reported $2.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.10. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Synnex had a return on equity of 16.43% and a net margin of 1.77%. The company’s quarterly revenue was up 36.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.57 EPS. equities analysts anticipate that Synnex Corporation will post 10.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 19th will be issued a dividend of $0.35 per share. This is a boost from Synnex’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, January 18th. Synnex’s payout ratio is currently 15.98%.
A number of research analysts recently issued reports on SNX shares. Loop Capital lifted their price target on Synnex from $1.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC lifted their price target on Synnex from $145.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research raised Synnex from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a report on Thursday, September 21st. ValuEngine raised Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $132.00 price target on shares of Synnex in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Synnex has an average rating of “Buy” and a consensus target price of $145.38.
A number of large investors have recently made changes to their positions in the business. FMR LLC raised its holdings in Synnex by 5.7% during the 2nd 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 during the last quarter. Vanguard Group Inc. raised its holdings in Synnex by 2.3% during the 2nd 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 during the last quarter. Goldman Sachs Group Inc. raised its holdings in Synnex by 13.3% during the 2nd 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 during the last quarter. State Street Corp raised its holdings in Synnex by 3.8% during the 2nd 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 during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Synnex by 189.1% during the 3rd 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 during the last quarter. 71.67% of the stock is owned by hedge funds and other institutional investors.
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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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