SYNNEX Co. (NYSE:SNX) Director Kevin M. Murai sold 2,809 shares of the company’s stock in a transaction on Friday, October 26th. The stock was sold at an average price of $77.38, for a total transaction of $217,360.42. Following the completion of the transaction, the director now owns 22,436 shares of the company’s stock, valued at $1,736,097.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
SYNNEX stock opened at $76.88 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of 8.68 and a beta of 0.77. SYNNEX Co. has a twelve month low of $72.83 and a twelve month high of $141.94.
SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Wednesday, October 3rd. The business services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.11. The business had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.88 billion. SYNNEX had a net margin of 1.41% and a return on equity of 17.16%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.16 earnings per share. On average, equities analysts anticipate that SYNNEX Co. will post 10.12 EPS for the current fiscal year.
SNX has been the subject of several recent research reports. SunTrust Banks lowered their price target on shares of SYNNEX to $100.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. Stifel Nicolaus lowered their price target on shares of SYNNEX from $130.00 to $114.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research note on Tuesday, October 9th. TheStreet downgraded shares of SYNNEX from a “b-” rating to a “c+” rating in a research note on Friday, October 12th. Finally, Needham & Company LLC raised shares of SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 price target for the company in a research note on Thursday, October 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $127.00.
Several large investors have recently modified their holdings of SNX. Townsend & Associates Inc bought a new position in shares of SYNNEX during the second quarter valued at about $108,000. Cornerstone Wealth Management LLC bought a new position in shares of SYNNEX during the second quarter valued at about $131,000. Point72 Hong Kong Ltd bought a new position in shares of SYNNEX during the second quarter valued at about $136,000. Nomura Holdings Inc. bought a new position in shares of SYNNEX during the second quarter valued at about $210,000. Finally, First Hawaiian Bank bought a new position in shares of SYNNEX during the third quarter valued at about $221,000. 71.66% of the stock is owned by hedge funds and other institutional investors.
SYNNEX Company Profile
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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