Metropolitan Life Insurance Co. NY Trims Stake in SYNNEX Co. (SNX)

Metropolitan Life Insurance Co. NY trimmed its holdings in SYNNEX Co. (NYSE:SNX) by 63.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 16,638 shares of the business services provider’s stock after selling 29,158 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in SYNNEX were worth $2,262,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SNX. BlackRock Inc. raised its holdings in shares of SYNNEX by 8.1% in the fourth quarter. BlackRock Inc. now owns 3,582,707 shares of the business services provider’s stock valued at $487,070,000 after buying an additional 269,430 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of SYNNEX by 541.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 205,406 shares of the business services provider’s stock valued at $27,925,000 after buying an additional 173,406 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of SYNNEX by 143.2% in the fourth quarter. Mawer Investment Management Ltd. now owns 271,600 shares of the business services provider’s stock valued at $36,924,000 after buying an additional 159,900 shares during the last quarter. Shellback Capital LP raised its holdings in shares of SYNNEX by 457.1% in the fourth quarter. Shellback Capital LP now owns 140,401 shares of the business services provider’s stock valued at $19,088,000 after buying an additional 115,201 shares during the last quarter. Finally, Capital Analysts LLC raised its holdings in shares of SYNNEX by 1,069.4% in the fourth quarter. Capital Analysts LLC now owns 97,917 shares of the business services provider’s stock valued at $8,125,000 after buying an additional 89,544 shares during the last quarter. 71.84% of the stock is owned by institutional investors and hedge funds.

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In other SYNNEX news, SVP Simon Leung sold 1,000 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $122.99, for a total value of $122,990.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall Witt sold 300 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $122.00, for a total transaction of $36,600.00. Following the completion of the transaction, the chief financial officer now directly owns 10,531 shares of the company’s stock, valued at $1,284,782. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,268,400 shares of company stock valued at $165,286,532. 3.20% of the stock is currently owned by corporate insiders.

SYNNEX stock opened at $113.78 on Friday. The stock has a market cap of $4,563.26, a PE ratio of 12.86 and a beta of 0.90. SYNNEX Co. has a 1-year low of $101.48 and a 1-year high of $141.94. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, January 9th. The business services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.10. The firm had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $4.85 billion. SYNNEX had a net margin of 1.77% and a return on equity of 16.43%. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.57 earnings per share. analysts predict that SYNNEX Co. will post 10.42 EPS for the current fiscal year.

SNX has been the subject of a number of research reports. Zacks Investment Research cut shares of SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. SunTrust Banks started coverage on shares of SYNNEX in a report on Thursday, December 7th. They set a “buy” rating and a $145.00 price target for the company. Citigroup reissued a “neutral” rating and set a $150.00 price target on shares of SYNNEX in a report on Wednesday, January 10th. ValuEngine cut shares of SYNNEX from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Pivotal Research raised shares of SYNNEX from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $145.38.

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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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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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