Synnex Corp. (SNX) Director Fred A. Breidenbach Sells 1,116 Shares
Synnex Corp. (NYSE:SNX) Director Fred A. Breidenbach sold 1,116 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $114.06, for a total transaction of $127,290.96. Following the completion of the transaction, the director now directly owns 20,387 shares of the company’s stock, valued at approximately $2,325,341.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Synnex Corp. (NYSE:SNX) opened at 112.08 on Wednesday. Synnex Corp. has a one year low of $75.87 and a one year high of $118.80. The firm has a market capitalization of $4.41 billion, a PE ratio of 21.12 and a beta of 1.10. The stock has a 50 day moving average of $106.60 and a 200-day moving average of $95.63.
Synnex Corp. (NYSE:SNX) last issued its earnings results on Monday, September 26th. The company reported $1.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.17. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The business earned $3.67 billion during the quarter. During the same quarter in the previous year, the firm posted $1.47 EPS. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Synnex Corp. will post $6.57 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s payout ratio is presently 15.07%.
Several analysts recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a report on Tuesday, September 27th. Citigroup Inc. raised their target price on shares of Synnex Corp. from $103.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, September 27th. Zacks Investment Research cut shares of Synnex Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $106.71.
Several hedge funds have recently modified their holdings of SNX. State Board of Administration of Florida Retirement System boosted its stake in shares of Synnex Corp. by 0.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 13,572 shares of the company’s stock worth $1,287,000 after buying an additional 86 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its position in Synnex Corp. by 0.6% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 21,805 shares of the company’s stock worth $2,019,000 after buying an additional 125 shares in the last quarter. United Services Automobile Association boosted its position in Synnex Corp. by 2.6% in the second quarter. United Services Automobile Association now owns 5,180 shares of the company’s stock worth $491,000 after buying an additional 130 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in Synnex Corp. by 2.3% in the second quarter. Ameritas Investment Partners Inc. now owns 6,802 shares of the company’s stock worth $645,000 after buying an additional 153 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its position in Synnex Corp. by 5.6% in the second quarter. Suntrust Banks Inc. now owns 4,768 shares of the company’s stock worth $452,000 after buying an additional 254 shares in the last quarter. Institutional investors and hedge funds own 75.41% of the company’s stock.
Synnex Corp. Company Profile
SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.
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