Synnex Corporation (SNX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Synnex Corporation (NYSE:SNX) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 376,852 shares of the business services provider’s stock after selling 2,809 shares during the quarter. Bank of New York Mellon Corp owned 0.94% of Synnex worth $47,676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of SNX. Bank of Montreal Can acquired a new position in Synnex in the second quarter valued at $309,000. Aperio Group LLC lifted its stake in shares of Synnex by 0.8% during the second quarter. Aperio Group LLC now owns 14,817 shares of the business services provider’s stock worth $1,777,000 after purchasing an additional 114 shares in the last quarter. ING Groep NV acquired a new position in shares of Synnex during the second quarter worth about $425,000. Janney Montgomery Scott LLC acquired a new position in shares of Synnex during the second quarter worth about $412,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of Synnex by 0.8% during the second quarter. Great West Life Assurance Co. Can now owns 17,844 shares of the business services provider’s stock worth $2,138,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Shares of Synnex Corporation (SNX) traded down $2.11 on Tuesday, hitting $132.09. The company’s stock had a trading volume of 279,600 shares, compared to its average volume of 202,601. The firm has a market capitalization of $5,363.32, a PE ratio of 15.55 and a beta of 1.08. Synnex Corporation has a 12 month low of $101.48 and a 12 month high of $137.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 1.61.

Synnex (NYSE:SNX) last released its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.19. Synnex had a return on equity of 16.58% and a net margin of 1.89%. The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The company’s revenue was up 16.5% compared to the same quarter last year. analysts predict that Synnex Corporation will post 8.79 EPS for the current year.

SNX has been the topic of a number of recent research reports. Zacks Investment Research cut Synnex from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Pivotal Research initiated coverage on Synnex in a research note on Friday, October 6th. They set a “hold” rating and a $137.00 price objective on the stock. Needham & Company LLC boosted their price objective on Synnex from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, September 26th. ValuEngine upgraded Synnex from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Loop Capital boosted their price objective on Synnex from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Synnex currently has an average rating of “Buy” and a consensus price target of $135.13.

In related news, Director Thomas S. Wurster sold 300 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $134.05, for a total value of $40,215.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kevin M. Murai sold 2,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $113.66, for a total value of $227,320.00. Following the completion of the transaction, the chief executive officer now owns 142,311 shares in the company, valued at approximately $16,175,068.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,721 shares of company stock worth $1,629,475. Insiders own 3.20% of the company’s stock.

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Synnex Profile

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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Institutional Ownership by Quarter for Synnex (NYSE:SNX)

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