Synnex Corp. (SNX) COO Dennis Polk Sells 1,000 Shares of Stock
Synnex Corp. (NYSE:SNX) COO Dennis Polk sold 1,000 shares of the firm’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $114.11, for a total value of $114,110.00. Following the completion of the sale, the chief operating officer now directly owns 57,947 shares of the company’s stock, valued at approximately $6,612,332.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Dennis Polk also recently made the following trade(s):
- On Thursday, September 1st, Dennis Polk sold 1,000 shares of Synnex Corp. stock. The shares were sold at an average price of $105.91, for a total value of $105,910.00.
- On Monday, August 1st, Dennis Polk sold 2,000 shares of Synnex Corp. stock. The shares were sold at an average price of $101.47, for a total value of $202,940.00.
Synnex Corp. (NYSE:SNX) opened at 112.01 on Thursday. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 21.10 and a beta of 1.10. Synnex Corp. has a 52 week low of $75.87 and a 52 week high of $118.80. The company’s 50-day moving average price is $106.85 and its 200 day moving average price is $95.75.
Synnex Corp. (NYSE:SNX) last announced its quarterly earnings data on Monday, September 26th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.17. The business had revenue of $3.67 billion for the quarter. Synnex Corp. had a net margin of 1.54% and a return on equity of 13.47%. The business’s revenue was up 10.1% compared to the same quarter last year. During the same period last year, the business earned $1.47 earnings per share. On average, analysts predict that Synnex Corp. will post $6.57 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.89%. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, October 12th. Synnex Corp.’s dividend payout ratio (DPR) is 15.07%.
A number of hedge funds and other institutional investors have recently made changes to their positions in SNX. JPMorgan Chase & Co. boosted its position in shares of Synnex Corp. by 834.4% in the first quarter. JPMorgan Chase & Co. now owns 517,500 shares of the company’s stock worth $47,915,000 after buying an additional 462,117 shares during the period. Vanguard Group Inc. raised its stake in shares of Synnex Corp. by 12.2% in the second quarter. Vanguard Group Inc. now owns 2,935,569 shares of the company’s stock worth $278,350,000 after buying an additional 319,670 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Synnex Corp. by 168.8% in the first quarter. Goldman Sachs Group Inc. now owns 475,837 shares of the company’s stock worth $44,058,000 after buying an additional 298,824 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Synnex Corp. by 101.4% in the second quarter. AQR Capital Management LLC now owns 589,587 shares of the company’s stock worth $55,905,000 after buying an additional 296,882 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Synnex Corp. during the second quarter worth $22,606,000. 75.41% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on SNX. Credit Agricole SA lifted their price objective on Synnex Corp. from $88.00 to $113.00 and gave the company an “underperform” rating in a research report on Tuesday, September 27th. Stifel Nicolaus raised their target price on Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a report on Tuesday, September 27th. Brean Capital restated a “buy” rating and set a $108.00 target price (up from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Raymond James Financial Inc. lowered Synnex Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. One 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. Synnex Corp. has a consensus rating of “Hold” and an average target price of $106.71.
About Synnex Corp.
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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