SYNNEX COO Sells $168,864 in Stock (SNX)
SYNNEX (NYSE:SNX) COO Dennis Polk unloaded 2,400 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $70.36, for a total transaction of $168,864.00. Following the completion of the sale, the chief operating officer now directly owns 53,100 shares of the company’s stock, valued at approximately $3,736,116. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on SNX shares. Analysts at Zacks downgraded shares of SYNNEX from an “outperform” rating to a “neutral” rating in a research note on Tuesday. They now have a $77.90 price target on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $79.84.
Shares of SYNNEX (NYSE:SNX) traded down 1.74% on Thursday, hitting $68.24. 143,930 shares of the company’s stock traded hands. SYNNEX has a 1-year low of $46.87 and a 1-year high of $79.44. The stock’s 50-day moving average is $66.56 and its 200-day moving average is $65.52. The company has a market cap of $2.641 billion and a P/E ratio of 20.47.
SYNNEX (NYSE:SNX) last released its earnings data on Wednesday, July 2nd. The company reported $1.52 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.81 earnings per share. SYNNEX’s revenue was up 33.3% compared to the same quarter last year. Analysts expect that SYNNEX will post $5.95 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.