Opus Capital Group LLC Boosts Holdings in SYNNEX Co. (SNX)

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Opus Capital Group LLC lifted its position in SYNNEX Co. (NYSE:SNX) by 20.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,858 shares of the business services provider’s stock after buying an additional 827 shares during the quarter. Opus Capital Group LLC’s holdings in SYNNEX were worth $393,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SNX. LSV Asset Management grew its position in shares of SYNNEX by 1,793.4% in the 4th quarter. LSV Asset Management now owns 622,916 shares of the business services provider’s stock worth $50,356,000 after buying an additional 590,016 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of SYNNEX by 5,254,911.1% in the 4th quarter. Victory Capital Management Inc. now owns 472,951 shares of the business services provider’s stock worth $38,233,000 after buying an additional 472,942 shares during the last quarter. Copeland Capital Management LLC purchased a new position in shares of SYNNEX in the 3rd quarter worth approximately $10,563,000. BlackRock Inc. grew its position in shares of SYNNEX by 2.5% in the 3rd quarter. BlackRock Inc. now owns 3,777,636 shares of the business services provider’s stock worth $319,967,000 after buying an additional 92,689 shares during the last quarter. Finally, FMR LLC grew its position in shares of SYNNEX by 1.5% in the 3rd quarter. FMR LLC now owns 5,944,225 shares of the business services provider’s stock worth $503,475,000 after buying an additional 89,828 shares during the last quarter. 66.95% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:SNX opened at $101.43 on Wednesday. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 9.31 and a beta of 0.75. SYNNEX Co. has a twelve month low of $71.82 and a twelve month high of $129.01. The company has a current ratio of 1.45, a quick ratio of 0.94 and a debt-to-equity ratio of 0.76.

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

The business 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 annualized dividend and a yield of 1.48%. The ex-dividend date was Friday, January 18th. This is an increase from SYNNEX’s previous quarterly dividend of $0.35. SYNNEX’s payout ratio is currently 13.77%.

In other SYNNEX news, CFO Marshall Witt sold 600 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $96.41, for a total transaction of $57,846.00. Following the sale, the chief financial officer now owns 18,293 shares of the company’s stock, valued at approximately $1,763,628.13. The transaction was disclosed in a legal filing 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 that occurred on Tuesday, January 15th. The stock was sold at an average price of $90.45, for a total transaction of $218,527.20. Following the sale, the director now directly owns 14,717 shares in the company, valued at approximately $1,331,152.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,216 shares of company stock worth $373,237. 3.20% of the stock is owned by insiders.

A number of research analysts have recently issued reports on SNX shares. Zacks Investment Research downgraded shares of SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, December 5th. Cross Research raised shares of SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. ValuEngine raised shares of SYNNEX from a “strong sell” rating to a “sell” rating in a research report on Friday, January 11th. Citigroup raised shares of SYNNEX from a “neutral” rating to a “buy” rating and set a $97.02 price objective on the stock in a research report on Monday, January 28th. Finally, TheStreet raised shares of SYNNEX from a “c+” rating to a “b-” rating in a research report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $111.00.

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SYNNEX Profile

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

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Want to see what other hedge funds are holding SNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYNNEX Co. (NYSE:SNX).

Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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