SYNNEX Co. (NYSE:SNX) Insider Sells $1,145,776.62 in Stock

SYNNEX Co. (NYSE:SNX) insider Peter Larocque sold 10,163 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $112.74, for a total transaction of $1,145,776.62. Following the completion of the transaction, the insider now directly owns 25,003 shares in the company, valued at approximately $2,818,838.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

SNX stock opened at $110.11 on Friday. The company has a market capitalization of $5.78 billion, a PE ratio of 10.11, a P/E/G ratio of 0.86 and a beta of 1.01. SYNNEX Co. has a 12 month low of $71.82 and a 12 month high of $115.56. The firm’s 50-day moving average is $92.90 and its 200 day moving average is $96.32. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.57 and a quick ratio of 0.96.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Tuesday, September 24th. The business services provider reported $3.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.86 by $0.44. The company had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $5.69 billion. SYNNEX had a net margin of 1.92% and a return on equity of 17.96%. The firm’s revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.57 EPS. Sell-side analysts forecast that SYNNEX Co. will post 12.61 EPS for the current fiscal year.



The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, October 10th. SYNNEX’s dividend payout ratio (DPR) is 13.77%.

SNX has been the topic of several recent analyst reports. Barrington Research reaffirmed a “buy” rating and issued a $118.00 price target on shares of SYNNEX in a research note on Friday, September 20th. ValuEngine downgraded shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Tuesday. TheStreet raised shares of SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, September 27th. Finally, Bank of America initiated coverage on shares of SYNNEX in a research note on Friday, September 6th. They issued a “buy” rating and a $120.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. SYNNEX currently has a consensus rating of “Buy” and an average price target of $124.13.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan increased its position in SYNNEX by 1.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,667 shares of the business services provider’s stock valued at $754,000 after purchasing an additional 110 shares during the period. Investors Research Corp increased its position in SYNNEX by 17.6% during the 2nd quarter. Investors Research Corp now owns 843 shares of the business services provider’s stock valued at $83,000 after purchasing an additional 126 shares during the period. Private Trust Co. NA increased its position in SYNNEX by 2.8% during the 2nd quarter. Private Trust Co. NA now owns 5,531 shares of the business services provider’s stock valued at $544,000 after purchasing an additional 151 shares during the period. Bank of Montreal Can increased its position in SYNNEX by 16.0% during the 2nd quarter. Bank of Montreal Can now owns 1,327 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 183 shares during the period. Finally, Huntington National Bank increased its position in SYNNEX by 21.6% during the 2nd quarter. Huntington National Bank now owns 1,111 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 197 shares during the period. 76.70% of the stock is currently owned by institutional investors and hedge funds.

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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