Teacher Retirement System of Texas raised its position in shares of Synnex Corp. (NYSE:SNX) by 14.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,141 shares of the company’s stock after buying an additional 508 shares during the period. Teacher Retirement System of Texas’ holdings in Synnex Corp. were worth $393,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its stake in shares of Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock worth $123,000 after buying an additional 600 shares during the period. Societe Generale acquired a new stake in shares of Synnex Corp. during the second quarter worth $156,000. LS Investment Advisors LLC raised 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 acquired a new stake in shares of Synnex Corp. during the first quarter worth $189,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Synnex Corp. during the first quarter worth $238,000. Institutional investors own 75.41% of the company’s stock.
Synnex Corp. (NYSE:SNX) opened at 112.915 on Monday. The firm’s 50-day moving average price is $107.31 and its 200-day moving average price is $95.95. Synnex Corp. has a one year low of $75.87 and a one year high of $118.80. The company has a market cap of $4.44 billion, a PE ratio of 21.273 and a beta of 1.10.
Synnex Corp. (NYSE:SNX) last announced its quarterly earnings data 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. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The business earned $3.67 billion during the quarter. During the same quarter in the prior year, the company earned $1.47 earnings per share. Synnex Corp.’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Synnex Corp. will post $6.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be given a dividend of $0.25 per share. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Wednesday, October 12th. Synnex Corp.’s dividend payout ratio is currently 15.07%.
A number of brokerages have recently weighed in on SNX. Stifel Nicolaus raised their target price on Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday, September 27th. Citigroup Inc. lifted their price objective on Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 27th. Zacks Investment Research lowered Synnex Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 30th. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a research report on Friday, June 24th. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a research report on Saturday, June 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $106.71.
In related news, Director Duane E. Zitzner sold 950 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $105.00, for a total transaction of $99,750.00. Following the completion of the sale, the director now directly owns 14,400 shares in the company, valued at approximately $1,512,000. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Duane E. Zitzner sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $100.00, for a total value of $100,000.00. Following the sale, the director now owns 20,716 shares of the company’s stock, valued at $2,071,600. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.
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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