SYNNEX Co. (NYSE:SNX) Stake Increased by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc increased its position in shares of SYNNEX Co. (NYSE:SNX) by 41.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,392 shares of the business services provider’s stock after acquiring an additional 15,545 shares during the period. Ensign Peak Advisors Inc owned about 0.10% of SYNNEX worth $6,501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Fort L.P. purchased a new stake in shares of SYNNEX during the second quarter worth $334,000. Geode Capital Management LLC raised its holdings in shares of SYNNEX by 3.4% during the second quarter. Geode Capital Management LLC now owns 574,169 shares of the business services provider’s stock worth $69,910,000 after acquiring an additional 18,641 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of SYNNEX by 1.9% during the second quarter. Vanguard Group Inc. now owns 4,048,911 shares of the business services provider’s stock worth $492,996,000 after acquiring an additional 73,762 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of SYNNEX by 1.9% during the second quarter. ProShare Advisors LLC now owns 5,359 shares of the business services provider’s stock worth $653,000 after acquiring an additional 100 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of SYNNEX by 45.3% during the second quarter. Lazard Asset Management LLC now owns 1,183 shares of the business services provider’s stock worth $144,000 after acquiring an additional 369 shares in the last quarter. Institutional investors and hedge funds own 76.09% of the company’s stock.

NYSE:SNX opened at $102.84 on Thursday. SYNNEX Co. has a 1 year low of $52.65 and a 1 year high of $130.93. The firm has a 50 day moving average of $118.23 and a 200-day moving average of $120.14. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5.34 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 1.40 and a beta of 1.72.

SYNNEX (NYSE:SNX) last posted its earnings results on Monday, September 27th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.07. SYNNEX had a net margin of 2.15% and a return on equity of 19.97%. The company had revenue of $5.21 billion during the quarter, compared to analysts’ expectations of $14.22 billion. During the same quarter in the previous year, the company posted $3.33 earnings per share. SYNNEX’s quarterly revenue was down 19.5% compared to the same quarter last year. As a group, analysts forecast that SYNNEX Co. will post 8.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Friday, October 15th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, October 14th. SYNNEX’s dividend payout ratio (DPR) is presently 5.85%.

In related news, insider Dennis Polk sold 1,302 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $126.39, for a total value of $164,559.78. Following the completion of the transaction, the insider now owns 129,159 shares in the company, valued at approximately $16,324,406.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin M. Murai sold 4,275 shares of the business’s stock in a transaction that occurred on Tuesday, August 10th. The stock was sold at an average price of $124.11, for a total transaction of $530,570.25. Following the completion of the transaction, the director now owns 9,251 shares of the company’s stock, valued at approximately $1,148,141.61. The disclosure for this sale can be found here. Insiders sold a total of 12,761 shares of company stock valued at $1,560,928 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Several equities analysts have weighed in on the company. Zacks Investment Research upgraded SYNNEX from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a report on Monday, October 4th. Loop Capital raised their price target on SYNNEX from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, October 5th. Raymond James raised their price target on SYNNEX from $140.00 to $150.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 29th. Finally, Barrington Research lowered their price target on SYNNEX from $140.00 to $128.00 and set an “outperform” rating on the stock in a research report on Thursday, September 30th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $131.88.

SYNNEX Company Profile

SYNNEX Corp. engages in the provision of distribution, logistics and integration services for the technology industry. It operates through the following segments: Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals, IT systems including data center server and storage solutions, system components, software, networking equipment, consumer electronics, and complementary products.

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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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