Two Sigma Investments LP Trims Holdings in SYNNEX Co. (SNX)

Two Sigma Investments LP cut its stake in SYNNEX Co. (NYSE:SNX) by 53.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,936 shares of the business services provider’s stock after selling 33,825 shares during the period. Two Sigma Investments LP owned approximately 0.07% of SYNNEX worth $4,070,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SNX. Rhumbline Advisers boosted its holdings in SYNNEX by 0.8% in the 3rd quarter. Rhumbline Advisers now owns 66,828 shares of the business services provider’s stock valued at $8,454,000 after purchasing an additional 526 shares during the period. Russell Investments Group Ltd. boosted its holdings in SYNNEX by 155.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 109,140 shares of the business services provider’s stock valued at $13,808,000 after purchasing an additional 66,484 shares during the period. American International Group Inc. boosted its holdings in SYNNEX by 2.8% in the 3rd quarter. American International Group Inc. now owns 79,102 shares of the business services provider’s stock valued at $10,007,000 after purchasing an additional 2,151 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in SYNNEX by 11.0% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 7,050 shares of the business services provider’s stock valued at $892,000 after purchasing an additional 700 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in SYNNEX by 4.9% in the 3rd quarter. Nordea Investment Management AB now owns 17,421 shares of the business services provider’s stock valued at $2,204,000 after purchasing an additional 821 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

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A number of analysts have weighed in on the stock. Pivotal Research reissued a “hold” rating and issued a $150.00 price target (up from $138.00) on shares of SYNNEX in a report on Wednesday, January 10th. Loop Capital raised their price objective on shares of SYNNEX from $1.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC raised their price objective on shares of SYNNEX from $145.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research downgraded shares of SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 14th. Finally, ValuEngine downgraded shares of SYNNEX from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One equities 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 assigned a strong buy rating to the company’s stock. SYNNEX has a consensus rating of “Buy” and a consensus target price of $145.38.

SYNNEX Co. (NYSE SNX) opened at $113.78 on Monday. The company has a market cap of $4,563.22, 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 released its quarterly earnings data on Tuesday, January 9th. The business services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.10. The company had revenue of $5.31 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $2.57 EPS. research analysts anticipate that SYNNEX Co. will post 10.42 earnings per share for the current fiscal year.

In related news, Director Thomas S. Wurster sold 300 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $136.57, for a total transaction of $40,971.00. Following the completion of the sale, the director now owns 10,531 shares in the company, valued at approximately $1,438,218.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Star Developments Ltd Silver sold 451,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $130.30, for a total transaction of $58,765,300.00. Following the sale, the insider now owns 4,997,878 shares of the company’s stock, valued at approximately $651,223,503.40. The disclosure for this sale can be found here. Insiders have sold a total of 1,268,400 shares of company stock valued at $165,286,532 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

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SYNNEX 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.

Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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