Insider Selling: Dennis Polk Unloads 2,400 Shares of SYNNEX Stock (SNX)
SYNNEX (NYSE:SNX) COO Dennis Polk unloaded 2,400 shares of SYNNEX stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $73.92, for a total value of $177,408.00. Following the sale, the chief operating officer now directly owns 53,900 shares in the company, valued at approximately $3,984,288. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC raised their price target on shares of SYNNEX from $74.00 to $78.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Bank of America reiterated a “buy” rating on shares of SYNNEX in a research note on Thursday. They now have a $85.00 price target on the stock, up previously from $80.00. Finally, analysts at Credit Agricole upgraded shares of SYNNEX from an “outperform” rating to a “buy” rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $79.84.
Shares of SYNNEX (NYSE:SNX) traded down 4.82% on Thursday, hitting $70.37. 1,095,407 shares of the company’s stock traded hands. SYNNEX has a 52 week low of $43.43 and a 52 week high of $79.44. The stock has a 50-day moving average of $67.11 and a 200-day moving average of $63.7. The company has a market cap of $2.717 billion and a P/E ratio of 23.13.
SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Wednesday, July 2nd. The company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.16. The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. Analysts expect that SYNNEX will post $5.88 EPS for the current fiscal year.
Synnex Corporation is a business process services company. The Company provides services to resellers, retailers and original equipment manufacturers (NYSE:SNX), in multiple regions around the world.
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