NJ State Employees Deferred Compensation Plan purchased a new position in shares of SYNNEX Co. (NYSE:SNX) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,000 shares of the business services provider’s stock, valued at approximately $339,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Mutual of America Capital Management LLC raised its stake in shares of SYNNEX by 23.5% in the second quarter. Mutual of America Capital Management LLC now owns 112,150 shares of the business services provider’s stock worth $10,824,000 after purchasing an additional 21,323 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of SYNNEX by 23.9% in the second quarter. Wells Fargo & Company MN now owns 227,074 shares of the business services provider’s stock worth $21,915,000 after purchasing an additional 43,731 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of SYNNEX in the second quarter worth approximately $1,699,000. Zebra Capital Management LLC raised its stake in shares of SYNNEX by 163.0% in the second quarter. Zebra Capital Management LLC now owns 16,098 shares of the business services provider’s stock worth $1,554,000 after purchasing an additional 9,976 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of SYNNEX by 45.3% in the second quarter. Janus Henderson Group PLC now owns 2,523 shares of the business services provider’s stock worth $243,000 after purchasing an additional 786 shares during the last quarter. 71.64% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Marshall Witt sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $96.47, for a total value of $57,882.00. Following the completion of the transaction, the chief financial officer now directly owns 18,410 shares of the company’s stock, valued at $1,776,012.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Dennis Polk sold 2,000 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $96.21, for a total value of $192,420.00. Following the transaction, the chief executive officer now directly owns 26,494 shares of the company’s stock, valued at $2,548,987.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,800 shares of company stock valued at $720,206. 3.20% of the stock is currently owned by corporate insiders.

Several brokerages have recently commented on SNX. Zacks Investment Research raised SYNNEX from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. TheStreet raised SYNNEX from a “c+” rating to a “b” rating in a research note on Friday, June 29th. Stifel Nicolaus lowered their price objective on SYNNEX from $140.00 to $130.00 and set a “buy” rating for the company in a research note on Friday, June 29th. Needham & Company LLC raised SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 target price for the company in a report on Thursday, October 4th. Finally, ValuEngine lowered SYNNEX from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. SYNNEX currently has an average rating of “Buy” and a consensus price target of $127.00.

SNX stock opened at $77.67 on Friday. The company has a market capitalization of $3.36 billion, a PE ratio of 8.77 and a beta of 0.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.49 and a quick ratio of 0.91. SYNNEX Co. has a 12-month low of $72.83 and a 12-month high of $141.94.

SYNNEX (NYSE:SNX) last released its earnings results on Wednesday, October 3rd. The business services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.46 by $0.11. The company had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.88 billion. SYNNEX had a return on equity of 16.69% and a net margin of 1.49%. SYNNEX’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 earnings per share. Analysts anticipate that SYNNEX Co. will post 10.1 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 12th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, October 11th. SYNNEX’s dividend payout ratio is presently 15.80%.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.

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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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