Kevin M. Murai Sells 5,800 Shares of SYNNEX Co. (NYSE:SNX) Stock

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SYNNEX Co. (NYSE:SNX) Director Kevin M. Murai sold 5,800 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $149.75, for a total transaction of $868,550.00. Following the transaction, the director now directly owns 30,766 shares of the company’s stock, valued at approximately $4,607,208.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of SNX opened at $146.86 on Friday. The company has a market capitalization of $7.65 billion, a P/E ratio of 15.09, a price-to-earnings-growth ratio of 1.03 and a beta of 1.03. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $130.68 and a 200 day moving average of $109.70. SYNNEX Co. has a twelve month low of $78.55 and a twelve month high of $153.07.

SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, January 9th. The business services provider reported $4.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.61 by $0.65. The company had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $5.99 billion. SYNNEX had a net margin of 2.11% and a return on equity of 18.84%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.65 earnings per share. On average, sell-side analysts expect that SYNNEX Co. will post 13.97 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, January 23rd. This represents a $1.60 annualized dividend and a dividend yield of 1.09%. This is an increase from SYNNEX’s previous quarterly dividend of $0.38. SYNNEX’s dividend payout ratio (DPR) is 11.31%.

A number of large investors have recently bought and sold shares of the business. Nuveen Asset Management LLC grew its position in SYNNEX by 23.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 463,550 shares of the business services provider’s stock worth $45,614,000 after purchasing an additional 88,012 shares during the period. First Trust Advisors LP grew its position in SYNNEX by 599.0% in the 3rd quarter. First Trust Advisors LP now owns 367,785 shares of the business services provider’s stock worth $41,523,000 after purchasing an additional 315,172 shares during the period. Copeland Capital Management LLC grew its position in SYNNEX by 4.7% in the 3rd quarter. Copeland Capital Management LLC now owns 348,452 shares of the business services provider’s stock worth $39,340,000 after purchasing an additional 15,509 shares during the period. Invesco Ltd. grew its position in SYNNEX by 112.0% in the 2nd quarter. Invesco Ltd. now owns 130,051 shares of the business services provider’s stock worth $12,797,000 after purchasing an additional 68,714 shares during the period. Finally, Paloma Partners Management Co bought a new stake in SYNNEX in the 2nd quarter worth approximately $12,566,000. 75.53% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have weighed in on SNX. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of SYNNEX in a research note on Friday, January 10th. TheStreet raised shares of SYNNEX from a “c+” rating to a “b-” rating in a research report on Friday, September 27th. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “strong-buy” rating and set a $153.00 price target for the company in a research report on Monday, January 13th. Citigroup raised their price target on shares of SYNNEX from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Barrington Research raised their price target on shares of SYNNEX from $118.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $155.43.

SYNNEX Company 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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Insider Buying and Selling by Quarter for SYNNEX (NYSE:SNX)

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