Synnex Corp. (SNX) Director Gregory L. Quesnel Sells 2,000 Shares of Stock
Synnex Corp. (NYSE:SNX) Director Gregory L. Quesnel sold 2,000 shares of the company’s stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $112.87, for a total transaction of $225,740.00. Following the completion of the transaction, the director now directly owns 8,011 shares in the company, valued at approximately $904,201.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Synnex Corp. (NYSE:SNX) traded down 1.09% during mid-day trading on Friday, reaching $111.45. 27,158 shares of the company’s stock traded hands. The company has a market cap of $4.39 billion, a P/E ratio of 21.00 and a beta of 1.10. The company’s 50 day moving average is $107.13 and its 200 day moving average is $95.87. Synnex Corp. has a 12-month low of $75.87 and a 12-month high of $118.80.
Synnex Corp. (NYSE:SNX) last released its quarterly earnings data on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.17. The firm 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 firm’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.47 EPS. On average, analysts predict that Synnex Corp. will post $6.57 EPS for the current fiscal 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 paid a $0.25 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s dividend payout ratio is presently 15.07%.
Several research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Tuesday, September 27th. Citigroup Inc. upped their price target on shares of Synnex Corp. from $103.00 to $112.00 and gave the stock 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 reissued a “hold” rating on shares of Synnex Corp. in a research note on Friday, June 24th. Finally, Raymond James Financial Inc. reissued a “market perform” rating on shares of Synnex Corp. in a research note on Saturday, June 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Synnex Corp. currently has an average rating of “Hold” and a consensus target price of $106.71.
Several hedge funds have recently added to or reduced their stakes in SNX. JPMorgan Chase & Co. raised its stake in 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 last quarter. Vanguard Group Inc. raised its stake 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. Goldman Sachs Group Inc. raised its stake in 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 during the last quarter. AQR Capital Management LLC raised its stake in 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 during the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Synnex Corp. during the second quarter worth $22,606,000. Hedge funds and other institutional investors own 75.41% of the company’s stock.
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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