Peter Larocque Sells 2,400 Shares of Synnex Corp. (SNX) Stock
Synnex Corp. (NYSE:SNX) insider Peter Larocque sold 2,400 shares of the company’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $111.28, for a total value of $267,072.00. Following the completion of the transaction, the insider now directly owns 17,293 shares of the company’s stock, valued at approximately $1,924,365.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Synnex Corp. (NYSE:SNX) opened at 107.78 on Wednesday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 20.31 and a beta of 1.10. Synnex Corp. has a 12 month low of $75.87 and a 12 month high of $118.80. The company’s 50 day moving average price is $107.48 and its 200 day moving average price is $96.12.
Synnex Corp. (NYSE:SNX) last issued its quarterly earnings results on Monday, September 26th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.17. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The firm earned $3.67 billion during the quarter. During the same period last year, the firm earned $1.47 EPS. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts expect that Synnex Corp. will post $6.57 EPS for the current fiscal year.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/peter-larocque-sells-2400-shares-of-synnex-corp-snx-stock.html
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 12th. This represents a $1.00 annualized dividend and a yield of 0.93%. This is a positive change from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s payout ratio is 15.07%.
A number of large investors have recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Synnex Corp. by 17.9% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 25,700 shares of the company’s stock valued at $2,437,000 after buying an additional 3,895 shares during the period. AXA purchased a new stake in shares of Synnex Corp. during the first quarter valued at about $2,037,000. Teachers Advisors Inc. raised its stake in shares of Synnex Corp. by 2.7% in the first quarter. Teachers Advisors Inc. now owns 42,554 shares of the company’s stock valued at $3,940,000 after buying an additional 1,130 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Synnex Corp. by 3.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 46,158 shares of the company’s stock valued at $4,274,000 after buying an additional 1,555 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Synnex Corp. during the second quarter valued at about $22,606,000. 75.41% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on SNX. Brean Capital reaffirmed a “buy” rating and issued a $108.00 target price (up previously from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Credit Agricole SA upped their target price on Synnex Corp. from $88.00 to $113.00 and gave the stock an “underperform” rating in a report on Tuesday, September 27th. Stifel Nicolaus upped their target price on Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Tuesday, September 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Raymond James Financial Inc. reissued a “market perform” rating on shares of Synnex Corp. in a research note on Saturday, June 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $106.71.
About Synnex Corp.
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
Receive News & Ratings for Synnex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synnex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.