Bank of Montreal Can acquired a new position in shares of Synnex Corp. (NYSE:SNX) during the second quarter, Holdings Channel reports. The fund acquired 35,333 shares of the company’s stock, valued at approximately $3,350,000.
A number of other large investors have also recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its stake in shares of Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock worth $164,000 after buying an additional 708 shares during the period. BlackRock Japan Co. Ltd purchased a new stake in shares of Synnex Corp. during the first quarter worth approximately $189,000. Meeder Asset Management Inc. purchased a new stake in shares of Synnex Corp. during the first quarter worth approximately $238,000. Parametrica Management Ltd purchased a new stake in shares of Synnex Corp. during the second quarter worth approximately $351,000. Finally, Alpha Windward LLC purchased a new stake in shares of Synnex Corp. during the second quarter worth approximately $449,000. 75.41% of the stock is owned by hedge funds and other institutional investors.
Shares of Synnex Corp. (NYSE:SNX) traded down 1.14% during mid-day trading on Friday, reaching $104.85. The company had a trading volume of 224,663 shares. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 19.75 and a beta of 1.10. Synnex Corp. has a one year low of $75.87 and a one year high of $118.80. The company has a 50 day moving average price of $107.38 and a 200 day moving average price of $96.32.
Synnex Corp. (NYSE:SNX) last posted its quarterly earnings results on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.17. The company had revenue of $3.67 billion for the quarter. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.47 EPS. On average, analysts anticipate that Synnex Corp. will post $6.57 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s dividend payout ratio is presently 18.83%.
A number of brokerages have commented on SNX. Raymond James Financial Inc. reissued a “market perform” rating on shares of Synnex Corp. in a research note on Friday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Synnex Corp. in a research note on Friday, June 24th. Citigroup Inc. raised their price objective on Synnex Corp. from $103.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, September 27th. Brean Capital reissued a “buy” rating and issued a $108.00 price objective (up previously from $97.00) on shares of Synnex Corp. in a research note on Friday, June 24th. Finally, Credit Agricole SA raised their price objective on Synnex Corp. from $88.00 to $113.00 and gave the company an “underperform” rating in a research note on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $106.71.
In related news, insider Peter Larocque sold 2,400 shares of the company’s stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $111.28, for a total value of $267,072.00. Following the sale, the insider now owns 17,293 shares in the company, valued at approximately $1,924,365.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Duane E. Zitzner sold 950 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $105.00, for a total value of $99,750.00. Following the completion of the sale, the director now owns 14,400 shares in the company, valued at approximately $1,512,000. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
About Synnex Corp.
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
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