Synnex Corporation (SNX) Director Sells $40,971.00 in Stock

Synnex Corporation (NYSE:SNX) Director Thomas S. Wurster sold 300 shares of Synnex stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $136.57, for a total value of $40,971.00. Following the completion of the transaction, the director now owns 10,531 shares of the company’s stock, valued at approximately $1,438,218.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of Synnex Corporation (NYSE SNX) opened at $139.04 on Friday. Synnex Corporation has a one year low of $101.48 and a one year high of $141.94. The company has a current ratio of 1.61, a quick ratio of 0.80 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $5,605.51, a P/E ratio of 16.25 and a beta of 1.08.

A number of brokerages recently issued reports on SNX. SunTrust Banks began coverage on Synnex in a research note on Thursday, December 7th. They set a “buy” rating and a $145.00 price target for the company. Zacks Investment Research lowered Synnex from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Stifel Nicolaus reissued a “buy” rating and set a $132.00 price target on shares of Synnex in a research note on Tuesday, October 17th. Pivotal Research began coverage on Synnex in a research note on Friday, October 6th. They set a “hold” rating and a $137.00 price target for the company. Finally, ValuEngine raised Synnex from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $136.22.

Several hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in shares of Synnex by 5.7% during the 2nd quarter. FMR LLC now owns 5,587,157 shares of the business services provider’s stock worth $670,236,000 after acquiring an additional 302,301 shares during the last quarter. Vanguard Group Inc. raised its position in Synnex by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 3,221,813 shares of the business services provider’s stock valued at $386,489,000 after purchasing an additional 71,317 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Synnex by 13.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,315,521 shares of the business services provider’s stock valued at $157,810,000 after purchasing an additional 154,174 shares in the last quarter. State Street Corp raised its position in Synnex by 3.8% during the 2nd quarter. State Street Corp now owns 993,336 shares of the business services provider’s stock valued at $119,164,000 after purchasing an additional 36,210 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Synnex by 189.1% during the 3rd quarter. Victory Capital Management Inc. now owns 439,603 shares of the business services provider’s stock valued at $55,614,000 after purchasing an additional 287,522 shares in the last quarter. 71.68% of the stock is owned by hedge funds and other institutional investors.

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Synnex Company 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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