Synnex Corp. (NYSE:SNX) COO Dennis Polk sold 1,000 shares of the stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $114.11, for a total value of $114,110.00. Following the transaction, the chief operating officer now directly owns 57,947 shares in the company, valued at approximately $6,612,332.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Dennis Polk also recently made the following trade(s):
- On Thursday, September 1st, Dennis Polk sold 1,000 shares of Synnex Corp. stock. The stock was sold at an average price of $105.91, for a total value of $105,910.00.
- On Monday, August 1st, Dennis Polk sold 2,000 shares of Synnex Corp. stock. The stock was sold at an average price of $101.47, for a total value of $202,940.00.
Shares of Synnex Corp. (NYSE:SNX) opened at 110.71 on Monday. The company has a market cap of $4.36 billion, a P/E ratio of 20.86 and a beta of 1.10. Synnex Corp. has a 52 week low of $75.87 and a 52 week high of $118.80. The firm’s 50-day moving average price is $107.31 and its 200 day moving average price is $95.95.
Synnex Corp. (NYSE:SNX) last issued its quarterly earnings results on Monday, September 26th. The company reported $1.73 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.67 billion for the quarter. During the same quarter in the prior year, the firm earned $1.47 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, equities analysts predict that Synnex Corp. will post $6.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.90%. This is a positive change from Synnex Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, October 12th. Synnex Corp.’s payout ratio is currently 15.07%.
A number of institutional investors have recently modified their holdings of SNX. JPMorgan Chase & Co. raised its stake in Synnex Corp. by 834.4% in the first quarter. JPMorgan Chase & Co. now owns 517,500 shares of the company’s stock valued at $47,915,000 after buying an additional 462,117 shares in the last quarter. Vanguard Group Inc. raised its stake 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 in the last quarter. Goldman Sachs Group Inc. raised its stake in Synnex Corp. by 168.8% in the first quarter. Goldman Sachs Group Inc. now owns 475,837 shares of the company’s stock valued at $44,058,000 after buying an additional 298,824 shares in the last quarter. AQR Capital Management LLC raised its stake in Synnex Corp. by 101.4% in the second quarter. AQR Capital Management LLC now owns 589,587 shares of the company’s stock valued at $55,905,000 after buying an additional 296,882 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Synnex Corp. during the second quarter valued at $22,606,000. Hedge funds and other institutional investors own 75.41% of the company’s stock.
Several analysts recently issued reports on SNX shares. Zacks Investment Research raised Synnex Corp. from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Friday, September 9th. Brean Capital reissued a “buy” rating and issued a $124.00 price target (up previously from $108.00) on shares of Synnex Corp. in a report on Wednesday, September 28th. Citigroup Inc. raised their price target on Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, September 27th. Raymond James Financial Inc. reissued a “market perform” rating on shares of Synnex Corp. in a report on Friday, July 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Synnex Corp. in a report on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average 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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