Insider Selling: SYNNEX Co. (NYSE:SNX) Director Sells $225,040.00 in Stock

SYNNEX Co. (NYSE:SNX) Director Thomas S. Wurster sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $112.52, for a total transaction of $225,040.00. Following the sale, the director now directly owns 14,390 shares in the company, valued at approximately $1,619,162.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Shares of NYSE:SNX opened at $113.77 on Friday. The company’s fifty day moving average price is $97.63 and its 200-day moving average price is $97.04. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 0.85 and a beta of 1.02. SYNNEX Co. has a one year low of $71.82 and a one year high of $115.72. 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 issued its quarterly earnings results on Tuesday, September 24th. The business services provider reported $3.30 EPS for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.44. The firm had revenue of $6.20 billion for the quarter, compared to analyst estimates of $5.69 billion. SYNNEX had a net margin of 1.92% and a return on equity of 17.96%. The business’s revenue for the quarter was up 28.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.57 EPS. As a group, equities research analysts expect that SYNNEX Co. will post 12.61 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Thursday, October 10th. SYNNEX’s payout ratio is 13.77%.

Several large investors have recently modified their holdings of SNX. FMR LLC boosted its stake in shares of SYNNEX by 17.8% in the 1st quarter. FMR LLC now owns 7,661,397 shares of the business services provider’s stock valued at $730,821,000 after purchasing an additional 1,158,462 shares in the last quarter. Northern Trust Corp boosted its stake in shares of SYNNEX by 0.9% in the 1st quarter. Northern Trust Corp now owns 1,180,762 shares of the business services provider’s stock valued at $112,634,000 after purchasing an additional 10,106 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of SYNNEX by 20.6% in the 2nd quarter. Prudential Financial Inc. now owns 742,424 shares of the business services provider’s stock valued at $73,055,000 after purchasing an additional 126,922 shares in the last quarter. LSV Asset Management boosted its stake in shares of SYNNEX by 2.0% in the 2nd quarter. LSV Asset Management now owns 641,526 shares of the business services provider’s stock valued at $63,126,000 after purchasing an additional 12,747 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of SYNNEX by 23.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 463,550 shares of the business services provider’s stock valued at $45,614,000 after purchasing an additional 88,012 shares in the last quarter. 76.70% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on SNX. Bank of America began coverage on shares of SYNNEX in a report on Friday, September 6th. They set a “buy” rating and a $120.00 target price on the stock. Barrington Research reaffirmed a “buy” rating and set a $118.00 target price on shares of SYNNEX in a report on Friday, September 20th. TheStreet raised shares of SYNNEX from a “c+” rating to a “b-” rating in a report on Friday, September 27th. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Finally, 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 report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $128.80.

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.

Further Reading: Diversification

Insider Buying and Selling by Quarter for SYNNEX (NYSE:SNX)

Receive News & Ratings for SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit