Oregon Public Employees Retirement Fund Acquires 4,988 Shares of SYNNEX Co. (SNX)

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Oregon Public Employees Retirement Fund lifted its holdings in shares of SYNNEX Co. (NYSE:SNX) by 43.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,498 shares of the business services provider’s stock after purchasing an additional 4,988 shares during the period. Oregon Public Employees Retirement Fund’s holdings in SYNNEX were worth $1,334,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Millennium Management LLC increased its holdings in shares of SYNNEX by 116.1% in the second quarter. Millennium Management LLC now owns 37,085 shares of the business services provider’s stock valued at $3,579,000 after purchasing an additional 19,922 shares during the period. Jane Street Group LLC purchased a new stake in shares of SYNNEX in the second quarter valued at approximately $277,000. Bank of New York Mellon Corp boosted its stake in shares of SYNNEX by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 391,245 shares of the business services provider’s stock valued at $37,760,000 after buying an additional 8,603 shares in the last quarter. United Services Automobile Association boosted its stake in shares of SYNNEX by 41.0% in the second quarter. United Services Automobile Association now owns 35,451 shares of the business services provider’s stock valued at $3,421,000 after buying an additional 10,300 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of SYNNEX by 228.1% in the third quarter. Bank of Montreal Can now owns 8,922 shares of the business services provider’s stock valued at $755,000 after buying an additional 6,203 shares in the last quarter. Institutional investors own 63.02% of the company’s stock.

Shares of SYNNEX stock traded up $1.36 during trading on Tuesday, reaching $99.77. The company’s stock had a trading volume of 1,446 shares, compared to its average volume of 521,354. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.45 and a quick ratio of 0.94. SYNNEX Co. has a 12-month low of $71.82 and a 12-month high of $129.01. The company has a market cap of $5.02 billion, a PE ratio of 9.15 and a beta of 0.75.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, January 10th. The business services provider reported $3.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.25 by $0.40. The firm had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.54 billion. SYNNEX had a return on equity of 17.54% and a net margin of 1.50%. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.79 earnings per share. On average, equities research analysts anticipate that SYNNEX Co. will post 11.81 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, January 31st. Shareholders of record on Tuesday, January 22nd were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.50%. This is an increase from SYNNEX’s previous quarterly dividend of $0.35. The ex-dividend date was Friday, January 18th. SYNNEX’s payout ratio is presently 13.77%.

In other SYNNEX news, CFO Marshall Witt sold 600 shares of the business’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $96.41, for a total transaction of $57,846.00. Following the sale, the chief financial officer now directly owns 18,293 shares in the company, valued at $1,763,628.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andrea M. Zulberti sold 2,416 shares of the business’s stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $90.45, for a total value of $218,527.20. Following the sale, the director now owns 14,717 shares in the company, valued at $1,331,152.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,216 shares of company stock worth $373,237. 3.20% of the stock is owned by company insiders.

A number of analysts recently weighed in on SNX shares. TheStreet upgraded SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, January 25th. Citigroup upgraded SYNNEX from a “neutral” rating to a “buy” rating and set a $97.02 price target on the stock in a research note on Monday, January 28th. Cross Research upgraded SYNNEX from a “hold” rating to a “buy” rating in a research note on Friday, January 11th. Zacks Investment Research upgraded SYNNEX from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Thursday, December 13th. Finally, ValuEngine upgraded SYNNEX from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $111.00.

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About SYNNEX

SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.

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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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