Synnex Corporation (NYSE:SNX) COO Dennis Polk sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $134.91, for a total value of $202,365.00. Following the completion of the sale, the chief operating officer now directly owns 21,874 shares in the company, valued at $2,951,021.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Dennis Polk also recently made the following trade(s):
- On Monday, October 2nd, Dennis Polk sold 1,500 shares of Synnex Corporation stock. The stock was sold at an average price of $126.91, for a total value of $190,365.00.
- On Friday, September 1st, Dennis Polk sold 1,500 shares of Synnex Corporation stock. The stock was sold at an average price of $115.06, for a total value of $172,590.00.
Synnex Corporation (SNX) traded down $2.76 during mid-day trading on Friday, reaching $130.02. The company had a trading volume of 135,097 shares, compared to its average volume of 181,138. The firm has a market capitalization of $5,292.19, a P/E ratio of 15.34 and a beta of 1.09.
Synnex Corporation (NYSE:SNX) last released its quarterly earnings data on Monday, September 25th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.19. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4 billion. Synnex Corporation had a return on equity of 16.58% and a net margin of 1.89%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 EPS. equities research analysts anticipate that Synnex Corporation will post 8.79 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.92%. This is a boost from Synnex Corporation’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, October 12th. Synnex Corporation’s dividend payout ratio is presently 16.28%.
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SNX has been the topic of a number of analyst reports. ValuEngine raised Synnex Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Loop Capital boosted their price target on Synnex Corporation from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, September 26th. Stifel Nicolaus reissued a “buy” rating and issued a $132.00 price target on shares of Synnex Corporation in a research report on Thursday, August 3rd. Needham & Company LLC upped their price objective on Synnex Corporation from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. Finally, Zacks Investment Research raised Synnex Corporation from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research report on Thursday, September 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $135.13.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its holdings in shares of Synnex Corporation by 50.1% during the 2nd quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock valued at $112,000 after buying an additional 310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Synnex Corporation by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock valued at $135,000 after buying an additional 96 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Synnex Corporation by 8.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,310 shares of the business services provider’s stock valued at $147,000 after buying an additional 106 shares during the period. Ronald Blue & Co. LLC bought a new position in shares of Synnex Corporation during the 2nd quarter valued at $203,000. Finally, Opus Capital Group LLC bought a new position in shares of Synnex Corporation during the 2nd quarter valued at $219,000. 71.36% of the stock is currently owned by hedge funds and other institutional investors.
About Synnex Corporation
Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.
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