Lucus Advisors LLC reduced its position in Synnex Corp. (NYSE:SNX) by 36.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,686 shares of the company’s stock after selling 2,123 shares during the period. Lucus Advisors LLC’s holdings in Synnex Corp. were worth $350,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of SNX. Strs Ohio raised its position in shares of Synnex Corp. by 2.0% in the second quarter. Strs Ohio now owns 15,500 shares of the company’s stock worth $1,469,000 after buying an additional 300 shares during the period. HL Financial Services LLC raised its position in shares of Synnex Corp. by 7.5% in the second quarter. HL Financial Services LLC now owns 25,507 shares of the company’s stock worth $2,419,000 after buying an additional 1,775 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Synnex Corp. during the second quarter worth about $3,350,000. New York State Teachers Retirement System raised its position in shares of Synnex Corp. by 4.2% in the second quarter. New York State Teachers Retirement System now owns 64,622 shares of the company’s stock worth $6,127,000 after buying an additional 2,600 shares during the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of Synnex Corp. during the second quarter worth about $351,000. 75.41% of the stock is owned by institutional investors and hedge funds.
Synnex Corp. (NYSE:SNX) traded up 0.58% during mid-day trading on Friday, hitting $114.11. The stock had a trading volume of 234,893 shares. The company has a 50-day moving average price of $106.18 and a 200 day moving average price of $95.49. Synnex Corp. has a 1-year low of $75.87 and a 1-year high of $118.80. The company has a market cap of $4.49 billion, a P/E ratio of 21.50 and a beta of 1.04.
Synnex Corp. (NYSE:SNX) last posted 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 net margin of 1.54% and a return on equity of 13.47%. The firm earned $3.67 billion during the quarter. During the same quarter last year, the firm earned $1.47 EPS. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. Equities research analysts forecast that Synnex Corp. will post $6.57 EPS for the current fiscal year.
The business 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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, October 12th. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s payout ratio is 15.07%.
SNX has been the subject of a number of research reports. Zacks Investment Research raised Synnex Corp. from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research note on Friday, September 9th. Stifel Nicolaus increased their price target on Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday. Raymond James Financial Inc. lowered Synnex Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 8th. Brean Capital reaffirmed a “buy” rating and set a $108.00 price target (up from $97.00) on shares of Synnex Corp. in a research note on Friday, June 24th. Finally, Credit Agricole SA increased their price target on Synnex Corp. from $88.00 to $113.00 and gave the company an “underperform” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $106.71.
In other Synnex Corp. news, COO Dennis Polk sold 2,000 shares of Synnex Corp. stock in a transaction on Monday, August 1st. The shares were sold at an average price of $101.47, for a total transaction of $202,940.00. Following the completion of the sale, the chief operating officer now owns 62,347 shares of the company’s stock, valued at approximately $6,326,350.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Larocque sold 7,000 shares of Synnex Corp. stock in a transaction on Friday, July 8th. The stock was sold at an average price of $94.22, for a total transaction of $659,540.00. Following the sale, the insider now directly owns 18,241 shares of the company’s stock, valued at approximately $1,718,667.02. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.
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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