Synnex Corporation (SNX) Director Sells $40,215.00 in Stock

Synnex Corporation (NYSE:SNX) Director Thomas S. Wurster sold 300 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $134.05, for a total transaction of $40,215.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Synnex Corporation (NYSE:SNX) traded down $2.00 during trading on Friday, reaching $134.20. 142,121 shares of the company’s stock traded hands, compared to its average volume of 202,269. The stock has a market capitalization of $5,488.42, a price-to-earnings ratio of 15.91 and a beta of 1.09. Synnex Corporation has a one year low of $101.48 and a one year high of $137.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.61 and a quick ratio of 0.80.

Synnex (NYSE:SNX) last announced its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.19. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4 billion. Synnex had a net margin of 1.89% and a return on equity of 16.58%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 earnings per share. sell-side analysts predict that Synnex Corporation will post 8.79 earnings per share for the current year.

SNX has been the topic of several analyst reports. Zacks Investment Research cut shares of Synnex from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Pivotal Research initiated coverage on shares of Synnex in a report on Friday, October 6th. They issued a “hold” rating and a $137.00 target price on the stock. Needham & Company LLC raised their target price on shares of Synnex from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. ValuEngine raised shares of Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Loop Capital raised their target price on shares of Synnex from $140.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $135.13.

A number of institutional investors have recently made changes to their positions in SNX. Capstone Asset Management Co. increased its stake in Synnex by 5.8% in the second quarter. Capstone Asset Management Co. now owns 3,998 shares of the business services provider’s stock valued at $480,000 after purchasing an additional 220 shares during the last quarter. Bank of Montreal Can purchased a new position in Synnex in the second quarter valued at approximately $309,000. LS Investment Advisors LLC increased its stake in Synnex by 15.4% in the second quarter. LS Investment Advisors LLC now owns 2,259 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 302 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Synnex by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 11,160 shares of the business services provider’s stock valued at $1,339,000 after purchasing an additional 50 shares during the last quarter. Finally, Aperio Group LLC increased its stake in Synnex by 0.8% in the second quarter. Aperio Group LLC now owns 14,817 shares of the business services provider’s stock valued at $1,777,000 after purchasing an additional 114 shares during the last quarter. Institutional investors own 71.68% of the company’s stock.

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Synnex Company Profile

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 (NYSE:SNX)

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