Synnex Corp. (SNX) Director Gregory L. Quesnel Sells 7,000 Shares of Stock
Synnex Corp. (NYSE:SNX) Director Gregory L. Quesnel sold 7,000 shares of Synnex Corp. stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $111.98, for a total transaction of $783,860.00. Following the completion of the sale, the director now directly owns 8,876 shares of the company’s stock, valued at $993,934.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Synnex Corp. (NYSE:SNX) opened at 112.01 on Thursday. The firm has a market cap of $4.41 billion, a price-to-earnings ratio of 21.10 and a beta of 1.10. Synnex Corp. has a one year low of $75.87 and a one year high of $118.80. The firm has a 50-day moving average of $106.85 and a 200-day moving average of $95.75.
Synnex Corp. (NYSE:SNX) last released its quarterly earnings data on Monday, September 26th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.17. The company earned $3.67 billion during the quarter. Synnex Corp. had a net margin of 1.54% and a return on equity of 13.47%. Synnex Corp.’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.47 earnings per share. Analysts anticipate that Synnex Corp. will post $6.57 EPS for the current year.
The firm also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase 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 presently 15.07%.
Several institutional investors have recently added to or reduced their stakes in SNX. Vanguard Group Inc. increased its position in 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 during the last quarter. BlackRock Fund Advisors increased its position in shares of Synnex Corp. by 3.3% in the second quarter. BlackRock Fund Advisors now owns 1,425,615 shares of the company’s stock valued at $135,177,000 after buying an additional 45,946 shares in the last quarter. State Street Corp increased its position in shares of Synnex Corp. by 1.0% in the second quarter. State Street Corp now owns 900,446 shares of the company’s stock valued at $85,379,000 after buying an additional 8,892 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Synnex Corp. by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 883,556 shares of the company’s stock valued at $83,779,000 after buying an additional 18,825 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Synnex Corp. by 52.1% in the second quarter. JPMorgan Chase & Co. now owns 786,864 shares of the company’s stock valued at $74,611,000 after buying an additional 269,364 shares in the last quarter. 75.41% of the stock is owned by institutional investors.
SNX has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Synnex Corp. from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research note on Friday, September 9th. Stifel Nicolaus boosted their price objective on shares of Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday, September 27th. Raymond James Financial Inc. cut shares of Synnex Corp. from an “outperform” rating to a “market perform” rating in a research note on Wednesday, June 8th. Credit Agricole SA boosted their price objective on shares of Synnex Corp. from $88.00 to $113.00 and gave the company an “underperform” rating in a research note on Tuesday, September 27th. Finally, Brean Capital reissued a “buy” rating and set a $108.00 price objective (up from $97.00) on shares of Synnex Corp. in a research note on Friday, June 24th. One research 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. Synnex Corp. has an average rating of “Hold” and a consensus 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.
Receive News & Stock Ratings for Synnex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synnex Corp. and related stocks with our FREE daily email newsletter.