Insider Selling: Synnex Corporation (SNX) Insider Sells 8,000 Shares of Stock

Synnex Corporation (NYSE:SNX) insider Peter Larocque sold 8,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $135.30, for a total value of $1,082,400.00. Following the completion of the sale, the insider now owns 18,060 shares of the company’s stock, valued at approximately $2,443,518. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Synnex Corporation (NYSE:SNX) traded down $3.41 on Tuesday, hitting $131.79. The stock had a trading volume of 602,800 shares, compared to its average volume of 314,614. The stock has a market cap of $5,403.29, a PE ratio of 17.57 and a beta of 1.08. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. Synnex Corporation has a 52 week low of $101.48 and a 52 week high of $141.94.

Synnex (NYSE:SNX) last released its earnings results on Tuesday, January 9th. The business services provider reported $2.79 EPS for the quarter, beating the Zacks’ consensus estimate of $2.69 by $0.10. The company had revenue of $5.31 billion during the quarter, compared to analysts’ expectations of $4.85 billion. Synnex had a return on equity of 16.43% and a net margin of 1.77%. The firm’s revenue for the quarter was up 36.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 EPS. sell-side analysts predict that Synnex Corporation will post 10.42 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 19th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Thursday, January 18th. This is a boost from Synnex’s previous quarterly dividend of $0.30. Synnex’s dividend payout ratio (DPR) is presently 18.67%.

A number of hedge funds have recently bought and sold shares of the stock. Globeflex Capital L P increased its position in Synnex by 0.3% during the 2nd quarter. Globeflex Capital L P now owns 3,531 shares of the business services provider’s stock valued at $424,000 after buying an additional 10 shares in the last quarter. Amalgamated Bank increased its position in Synnex by 1.5% during the 2nd quarter. Amalgamated Bank now owns 4,164 shares of the business services provider’s stock valued at $500,000 after buying an additional 60 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Synnex by 1.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,972 shares of the business services provider’s stock valued at $716,000 after buying an additional 106 shares in the last quarter. Suntrust Banks Inc. increased its position in Synnex by 3.9% during the 2nd quarter. Suntrust Banks Inc. now owns 4,700 shares of the business services provider’s stock valued at $563,000 after buying an additional 175 shares in the last quarter. Finally, Advisor Group Inc. increased its position in Synnex by 50.1% during the 2nd quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock valued at $112,000 after buying an additional 310 shares in the last quarter. 71.70% of the stock is owned by institutional investors.

Several equities research analysts have weighed in on SNX shares. Zacks Investment Research upgraded Synnex from a “hold” rating to a “buy” rating and set a $153.00 price objective for the company in a report on Saturday, January 13th. Loop Capital increased their price objective 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 objective on Synnex from $145.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. ValuEngine upgraded Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $132.00 price objective on shares of Synnex in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $145.38.

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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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