Synnex Corporation (NYSE:SNX) major shareholder Star Developments Ltd Silver sold 451,000 shares of the stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $130.30, for a total value of $58,765,300.00. Following the transaction, the insider now owns 4,997,878 shares in the company, valued at $651,223,503.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of Synnex Corporation (NYSE SNX) traded down $0.74 on Thursday, hitting $133.61. The company had a trading volume of 261,944 shares, compared to its average volume of 303,092. Synnex Corporation has a 12 month low of $101.48 and a 12 month high of $141.94. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. The company has a market cap of $5,424.87, a PE ratio of 17.81 and a beta of 1.08.

Synnex (NYSE:SNX) last issued its earnings results on Tuesday, January 9th. The business services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.10. Synnex had a return on equity of 16.43% and a net margin of 1.77%. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $4.85 billion. During the same period last year, the business earned $2.57 EPS. Synnex’s quarterly revenue was up 36.7% compared to the same quarter last year. analysts anticipate that Synnex Corporation will post 10.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 19th will be issued a $0.35 dividend. This is a boost from Synnex’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, January 18th. Synnex’s dividend payout ratio (DPR) is currently 16.00%.

SNX has been the topic of a number of research analyst reports. Loop Capital increased their price target on Synnex from $1.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC increased their price target on Synnex from $145.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research upgraded Synnex 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. ValuEngine upgraded Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus restated a “buy” rating and set a $132.00 price target on shares of Synnex in a report on Tuesday, October 17th. One 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’s stock. The company currently has an average rating of “Buy” and a consensus price target of $145.38.

Several institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its holdings in shares of Synnex by 5.7% in the 2nd quarter. FMR LLC now owns 5,587,157 shares of the business services provider’s stock worth $670,236,000 after purchasing an additional 302,301 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Synnex by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,221,813 shares of the business services provider’s stock worth $386,489,000 after purchasing an additional 71,317 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Synnex by 13.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,315,521 shares of the business services provider’s stock worth $157,810,000 after purchasing an additional 154,174 shares in the last quarter. State Street Corp lifted its holdings in shares of Synnex by 3.8% in the 2nd quarter. State Street Corp now owns 993,336 shares of the business services provider’s stock worth $119,164,000 after purchasing an additional 36,210 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Synnex by 189.1% in the 3rd quarter. Victory Capital Management Inc. now owns 439,603 shares of the business services provider’s stock valued at $55,614,000 after buying an additional 287,522 shares during the last quarter. Institutional investors own 71.67% 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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