Synnex Corporation (SNX) CEO Sells $257,620.00 in Stock
Synnex Corporation (NYSE:SNX) CEO Kevin M. Murai sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $128.81, for a total value of $257,620.00. Following the completion of the sale, the chief executive officer now directly owns 144,125 shares of the company’s stock, valued at approximately $18,564,741.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Synnex Corporation (NYSE:SNX) traded down $1.42 on Wednesday, hitting $129.16. The company’s stock had a trading volume of 76,100 shares, compared to its average volume of 203,493. The company has a market capitalization of $5,218.65, a price-to-earnings ratio of 15.13 and a beta of 1.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 1.61. Synnex Corporation has a 52-week low of $101.48 and a 52-week high of $135.87.
Synnex Corporation (NYSE:SNX) last issued its earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.19. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4 billion. Synnex Corporation had a return on equity of 16.58% and a net margin of 1.89%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 earnings per share. equities analysts forecast that Synnex Corporation will post 8.79 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in SNX. Teachers Advisors LLC grew its position in shares of Synnex Corporation by 15.2% in the first quarter. Teachers Advisors LLC now owns 86,597 shares of the business services provider’s stock valued at $9,694,000 after purchasing an additional 11,454 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Synnex Corporation by 8.8% in 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 in the last quarter. Renaissance Technologies LLC grew its position in shares of Synnex Corporation by 77.3% in the first quarter. Renaissance Technologies LLC now owns 93,600 shares of the business services provider’s stock valued at $10,478,000 after purchasing an additional 40,800 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Synnex Corporation in the first quarter valued at $306,000. Finally, Capstone Asset Management Co. grew its position in Synnex Corporation by 5.8% during the second quarter. Capstone Asset Management Co. now owns 3,998 shares of the business services provider’s stock worth $480,000 after buying an additional 220 shares in the last quarter. Institutional investors own 71.89% of the company’s stock.
Several research analysts recently issued reports on the company. Loop Capital assumed coverage on Synnex Corporation in a research report on Thursday, August 24th. They set a “buy” rating and a $140.00 target price on the stock. Pivotal Research assumed coverage on Synnex Corporation in a research report on Friday, October 6th. They set a “hold” rating and a $137.00 target price on the stock. ValuEngine raised Synnex Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. BidaskClub cut Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Zacks Investment Research upgraded Synnex Corporation from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Synnex Corporation currently has an average rating of “Buy” and a consensus price target 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.
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