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.

The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This is a boost from Synnex Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 0.93%. Synnex Corporation’s payout ratio is 16.28%.

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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.

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

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