Synnex Corp. (NYSE:SNX) Director Gregory L. Quesnel sold 7,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $111.98, for a total value of $783,860.00. Following the transaction, the director now directly owns 8,876 shares of the company’s stock, valued at $993,934.48. The sale was disclosed in a filing with the SEC, which is available at this link.
Shares of Synnex Corp. (NYSE:SNX) opened at 110.71 on Monday. The firm’s 50-day moving average price is $107.31 and its 200-day moving average price is $95.95. The firm has a market cap of $4.36 billion, a PE ratio of 20.86 and a beta of 1.10. Synnex Corp. has a one year low of $75.87 and a one year high of $118.80.
Synnex Corp. (NYSE:SNX) last issued its earnings results on Monday, September 26th. The company reported $1.73 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.17. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The company earned $3.67 billion during the quarter. During the same quarter in the previous year, the firm earned $1.47 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis. Equities research analysts expect that Synnex Corp. will post $6.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be paid a $0.25 dividend. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, October 12th. Synnex Corp.’s payout ratio is presently 15.07%.
Institutional investors have recently modified their holdings of the stock. UBS Asset Management Americas Inc. increased its position in shares of Synnex Corp. by 36.0% in the first quarter. UBS Asset Management Americas Inc. now owns 37,653 shares of the company’s stock worth $3,486,000 after buying an additional 9,966 shares during the last quarter. UBS Group AG increased its position in shares of Synnex Corp. by 153.6% in the first quarter. UBS Group AG now owns 14,731 shares of the company’s stock worth $1,364,000 after buying an additional 8,923 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Synnex Corp. during the first quarter worth approximately $238,000. Investec Asset Management LTD increased its position in shares of Synnex Corp. by 3.1% in the first quarter. Investec Asset Management LTD now owns 528,559 shares of the company’s stock worth $48,939,000 after buying an additional 16,073 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Synnex Corp. by 834.4% in the first quarter. JPMorgan Chase & Co. now owns 517,500 shares of the company’s stock worth $47,915,000 after buying an additional 462,117 shares during the last quarter. Institutional investors own 75.41% of the company’s stock.
Several equities analysts recently weighed in on the company. Brean Capital reaffirmed a “buy” rating and issued a $124.00 price objective (up from $108.00) on shares of Synnex Corp. in a research note on Wednesday, September 28th. Zacks Investment Research downgraded Synnex Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, August 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Synnex Corp. in a research note on Tuesday, September 27th. 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. Finally, Stifel Nicolaus raised their price objective on Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $106.71.
Synnex Corp. Company Profile
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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