Synnex Corp. (NYSE:SNX) Director Gregory L. Quesnel sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of $112.87, for a total transaction of $225,740.00. Following the completion of the sale, the director now owns 8,011 shares in the company, valued at $904,201.57. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Synnex Corp. (NYSE:SNX) opened at 110.71 on Monday. The firm’s 50-day moving average is $107.31 and its 200 day moving average is $95.95. Synnex Corp. has a 12-month low of $75.87 and a 12-month high of $118.80. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 20.86 and a beta of 1.10.
Synnex Corp. (NYSE:SNX) last announced its quarterly earnings results on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.67 billion for the quarter. During the same quarter in the prior year, the company earned $1.47 earnings per share. The company’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities analysts expect that Synnex Corp. will post $6.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 12th. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. Synnex Corp.’s dividend payout ratio is currently 15.07%.
Several research firms recently commented on SNX. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a research report on Friday, July 15th. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a research report on Friday, June 24th. Citigroup Inc. lifted their target price on shares of Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 27th. Brean Capital reiterated a “buy” rating and set a $124.00 target price (up from $108.00) on shares of Synnex Corp. in a research report on Wednesday, September 28th. Finally, Credit Agricole SA lifted their target price on shares of Synnex Corp. from $88.00 to $113.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 27th. One investment 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’s stock. The stock presently has an average rating of “Hold” and an average price target of $106.71.
Several hedge funds and other institutional investors have recently bought and sold shares of SNX. Vanguard Group Inc. boosted its position in Synnex Corp. by 12.2% in the second quarter. Vanguard Group Inc. now owns 2,935,569 shares of the company’s stock valued at $278,350,000 after buying an additional 319,670 shares during the period. BlackRock Fund Advisors boosted its position in Synnex Corp. by 3.3% in the second quarter. BlackRock Fund Advisors now owns 1,425,615 shares of the company’s stock valued at $135,177,000 after buying an additional 45,946 shares during the period. State Street Corp boosted its position in Synnex Corp. by 1.0% in the second quarter. State Street Corp now owns 900,446 shares of the company’s stock valued at $85,379,000 after buying an additional 8,892 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Synnex Corp. by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 883,556 shares of the company’s stock valued at $83,779,000 after buying an additional 18,825 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Synnex Corp. by 52.1% in the second quarter. JPMorgan Chase & Co. now owns 786,864 shares of the company’s stock valued at $74,611,000 after buying an additional 269,364 shares during the period. Institutional investors own 75.41% 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.
Receive News & Ratings for Synnex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synnex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.