Mawer Investment Management Ltd. maintained its position in SYNNEX Co. (NYSE:SNX) during the first quarter, Holdings Channel reports. The firm owned 111,700 shares of the business services provider’s stock at the end of the first quarter. Mawer Investment Management Ltd.’s holdings in SYNNEX were worth $12,504,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of SNX. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in SYNNEX during the third quarter worth approximately $2,160,000. Mutual of America Capital Management LLC raised its position in SYNNEX by 1.8% in the third quarter. Mutual of America Capital Management LLC now owns 61,990 shares of the business services provider’s stock worth $7,074,000 after buying an additional 1,094 shares during the last quarter. California State Teachers Retirement System raised its position in SYNNEX by 0.8% in the third quarter. California State Teachers Retirement System now owns 61,916 shares of the business services provider’s stock worth $7,065,000 after buying an additional 500 shares during the last quarter. Pacer Advisors Inc. raised its position in SYNNEX by 9.1% in the third quarter. Pacer Advisors Inc. now owns 2,014 shares of the business services provider’s stock worth $230,000 after buying an additional 168 shares during the last quarter. Finally, Zweig DiMenna Associates LLC acquired a new position in SYNNEX during the third quarter worth approximately $251,000. Institutional investors and hedge funds own 73.27% of the company’s stock.
SYNNEX Co. (NYSE:SNX) traded up 3.42% during midday trading on Friday, reaching $108.88. The company had a trading volume of 234,511 shares. The firm has a market capitalization of $4.35 billion, a P/E ratio of 17.40 and a beta of 1.18. The stock’s 50 day moving average price is $107.76 and its 200-day moving average price is $115.60. SYNNEX Co. has a one year low of $85.02 and a one year high of $129.24.
SYNNEX (NYSE:SNX) last released its quarterly earnings results on Monday, March 27th. The business services provider reported $1.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.16. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.50 billion. SYNNEX had a net margin of 1.67% and a return on equity of 14.80%. The business’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.37 EPS. On average, equities research analysts anticipate that SYNNEX Co. will post $7.91 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, April 11th. This represents a $1.00 annualized dividend and a yield of 0.95%. SYNNEX’s dividend payout ratio is currently 17.01%.
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SNX has been the topic of a number of recent analyst reports. Zacks Investment Research lowered SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 15th. Stifel Nicolaus upgraded SYNNEX from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research note on Wednesday, April 12th. They noted that the move was a valuation call. Finally, Raymond James Financial, Inc. upgraded SYNNEX from a “market perform” rating to a “strong-buy” rating and set a $122.00 price objective on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $121.17.
In other SYNNEX news, COO Dennis Polk sold 1,500 shares of the stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $117.97, for a total value of $176,955.00. Following the transaction, the chief operating officer now directly owns 45,968 shares of the company’s stock, valued at approximately $5,422,844.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin M. Murai sold 2,000 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $108.68, for a total transaction of $217,360.00. Following the completion of the transaction, the chief executive officer now directly owns 142,311 shares in the company, valued at $15,466,359.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,442 shares of company stock worth $1,180,658. Insiders own 3.40% of the company’s stock.
SYNNEX Company Profile
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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