Marshall Witt Sells 600 Shares of SYNNEX Co. (SNX) Stock

SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 600 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $82.13, for a total value of $49,278.00. Following the completion of the sale, the chief financial officer now directly owns 18,274 shares of the company’s stock, valued at $1,500,843.62. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Marshall Witt also recently made the following trade(s):

  • On Thursday, November 1st, Marshall Witt sold 600 shares of SYNNEX stock. The shares were sold at an average price of $78.22, for a total value of $46,932.00.
  • On Monday, October 1st, Marshall Witt sold 600 shares of SYNNEX stock. The shares were sold at an average price of $85.10, for a total value of $51,060.00.

Shares of SNX opened at $77.31 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.94. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 8.73 and a beta of 0.82. SYNNEX Co. has a 52 week low of $71.82 and a 52 week high of $141.94.



SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Wednesday, October 3rd. The business services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.46 by $0.11. The firm had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.88 billion. SYNNEX had a return on equity of 17.16% and a net margin of 1.41%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 EPS. Analysts expect that SYNNEX Co. will post 10.12 EPS for the current year.

A number of analysts have commented on the company. Zacks Investment Research lowered SYNNEX from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. SunTrust Banks decreased their price objective on SYNNEX to $100.00 and set a “buy” rating for the company in a report on Thursday, October 4th. Stifel Nicolaus decreased their price objective on SYNNEX from $130.00 to $114.00 and set a “buy” rating for the company in a report on Thursday, October 4th. Needham & Company LLC raised SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 price objective for the company in a report on Thursday, October 4th. Finally, TheStreet lowered SYNNEX from a “b-” rating to a “c+” rating in a report on Friday, October 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $127.00.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP bought a new position in shares of SYNNEX in the third quarter valued at approximately $7,186,000. Morgan Stanley grew its holdings in shares of SYNNEX by 13.0% in the third quarter. Morgan Stanley now owns 126,640 shares of the business services provider’s stock valued at $10,726,000 after acquiring an additional 14,531 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of SYNNEX by 6.6% in the third quarter. Nordea Investment Management AB now owns 74,861 shares of the business services provider’s stock valued at $6,340,000 after acquiring an additional 4,655 shares in the last quarter. MetLife Investment Advisors LLC grew its holdings in shares of SYNNEX by 20.0% in the third quarter. MetLife Investment Advisors LLC now owns 38,714 shares of the business services provider’s stock valued at $3,279,000 after acquiring an additional 6,464 shares in the last quarter. Finally, Putnam Investments LLC bought a new position in shares of SYNNEX in the third quarter valued at approximately $1,203,000. 57.76% of the stock is owned by hedge funds and other institutional investors.

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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.

Further Reading: Buyback For Investors Defined

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

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