SYNNEX (NYSE:SNX) Reaches New 12-Month High at $125.21

SYNNEX Co. (NYSE:SNX) reached a new 52-week high during trading on Wednesday . The company traded as high as $125.21 and last traded at $124.26, with a volume of 3493 shares trading hands. The stock had previously closed at $121.39.

A number of brokerages have recently issued reports on SNX. Bank of America began coverage on SYNNEX in a research report on Friday, September 6th. They set a “buy” rating and a $120.00 price objective for the company. TheStreet upgraded SYNNEX from a “c+” rating to a “b-” rating in a report on Friday, September 27th. ValuEngine cut SYNNEX from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Barrington Research reissued a “buy” rating and set a $118.00 target price on shares of SYNNEX in a research report on Friday, September 20th. Finally, Zacks Investment Research upgraded shares of SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $128.80.

The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.77. The firm has a market cap of $6.27 billion, a P/E ratio of 11.45, a PEG ratio of 0.94 and a beta of 1.01. The stock’s 50-day simple moving average is $119.37 and its 200 day simple moving average is $101.14.

SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Tuesday, September 24th. The business services provider reported $3.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.86 by $0.44. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $5.69 billion. SYNNEX had a return on equity of 17.96% and a net margin of 1.92%. The business’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period last year, the company posted $2.57 EPS. On average, research analysts forecast that SYNNEX Co. will post 12.61 earnings per share for the current fiscal year.

In related news, SVP Simon Leung sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $105.66, for a total transaction of $105,660.00. Following the transaction, the senior vice president now owns 17,357 shares in the company, valued at approximately $1,833,940.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea M. Zulberti sold 500 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $107.83, for a total transaction of $53,915.00. Following the transaction, the director now owns 13,265 shares in the company, valued at approximately $1,430,364.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,927 shares of company stock worth $2,978,801. 3.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Prudential Financial Inc. boosted its position in shares of SYNNEX by 20.6% during the 2nd quarter. Prudential Financial Inc. now owns 742,424 shares of the business services provider’s stock worth $73,055,000 after purchasing an additional 126,922 shares in the last quarter. LSV Asset Management grew 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 buying an additional 12,747 shares during the period. Nuveen Asset Management LLC increased its position in 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 buying an additional 88,012 shares in the last quarter. First Trust Advisors LP increased its position in SYNNEX by 599.0% in the 3rd quarter. First Trust Advisors LP now owns 367,785 shares of the business services provider’s stock valued at $41,523,000 after buying an additional 315,172 shares in the last quarter. Finally, Copeland Capital Management LLC increased its position in SYNNEX by 4.7% in the 3rd quarter. Copeland Capital Management LLC now owns 348,452 shares of the business services provider’s stock valued at $39,340,000 after buying an additional 15,509 shares in the last quarter. 75.68% of the stock is owned by hedge funds and other institutional investors.

SYNNEX Company Profile (NYSE:SNX)

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.

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