Insider Selling: Dennis Polk Sells 2,400 Shares of SYNNEX Stock (SNX)
SYNNEX (NYSE:SNX) COO Dennis Polk sold 2,400 shares of SYNNEX stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $64.16, for a total value of $153,984.00. Following the transaction, the chief operating officer now directly owns 53,500 shares of the company’s stock, valued at approximately $3,432,560. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of SYNNEX (NYSE:SNX) traded down 0.78% on Tuesday, hitting $63.80. 118,395 shares of the company’s stock traded hands. SYNNEX has a 52-week low of $46.87 and a 52-week high of $79.44. The stock’s 50-day moving average is $67.86 and its 200-day moving average is $64.00. The company has a market cap of $2.469 billion and a P/E ratio of 18.96.
SYNNEX (NYSE:SNX) last posted its quarterly earnings results 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 $5.95 EPS for the current fiscal year.
A number of research firms have recently commented on SNX. 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, July 3rd. 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, July 3rd. 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 given a buy rating to the company. SYNNEX has an average rating of “Buy” and an average target price of $79.84.
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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