Synnex Corporation (NYSE:SNX) COO Dennis Polk sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $134.91, for a total value of $202,365.00. Following the transaction, the chief operating officer now directly owns 21,874 shares in the company, valued at $2,951,021.34. The sale was disclosed in a document filed with the SEC, which is available at this link.

Dennis Polk also recently made the following trade(s):

  • On Monday, October 2nd, Dennis Polk sold 1,500 shares of Synnex Corporation stock. The shares were sold at an average price of $126.91, for a total value of $190,365.00.
  • On Friday, September 1st, Dennis Polk sold 1,500 shares of Synnex Corporation stock. The shares were sold at an average price of $115.06, for a total value of $172,590.00.

Synnex Corporation (NYSE:SNX) last announced its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Synnex Corporation had a return on equity of 16.58% and a net margin of 1.89%. The company had revenue of $4.28 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the prior year, the company earned $1.73 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, October 12th. This is an increase from Synnex Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 dividend on an annualized basis and a yield of 0.89%. Synnex Corporation’s dividend payout ratio is 16.28%.

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Hedge funds have recently modified their holdings of the business. Advisor Group Inc. raised its position in Synnex Corporation by 50.1% during the second quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Synnex Corporation by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 96 shares during the period. PNC Financial Services Group Inc. raised its position in Synnex Corporation by 8.8% during the first quarter. PNC Financial Services Group Inc. now owns 1,310 shares of the business services provider’s stock valued at $147,000 after purchasing an additional 106 shares during the period. Ronald Blue & Co. LLC purchased a new stake in Synnex Corporation during the second quarter valued at approximately $203,000. Finally, Opus Capital Group LLC purchased a new stake in Synnex Corporation during the second quarter valued at approximately $219,000. Institutional investors and hedge funds own 71.36% of the company’s stock.

SNX has been the topic of a number of research reports. ValuEngine raised Synnex Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Loop Capital raised their price objective on Synnex Corporation from $140.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. Stifel Nicolaus reissued a “buy” rating and set a $132.00 price objective on shares of Synnex Corporation in a report on Thursday, August 3rd. Needham & Company LLC raised their price objective on Synnex Corporation from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. Finally, Zacks Investment Research raised Synnex Corporation from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $135.13.

About Synnex Corporation

Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.

Insider Buying and Selling by Quarter for Synnex Corporation (NYSE:SNX)

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