Synnex Corp. (NYSE:SNX) announced a quarterly dividend on Monday, September 26th. Investors of record on Friday, October 14th will be given a dividend of 0.25 per share on Friday, October 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Wednesday, October 12th. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20.

Shares of Synnex Corp. (NYSE:SNX) opened at 112.68 on Friday. The company’s 50 day moving average is $107.13 and its 200-day moving average is $95.87. Synnex Corp. has a 1-year low of $75.87 and a 1-year high of $118.80. The company has a market capitalization of $4.43 billion, a P/E ratio of 21.23 and a beta of 1.10.

Synnex Corp. (NYSE:SNX) last released its quarterly earnings results on Monday, September 26th. The company reported $1.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.17. Synnex Corp. had a net margin of 1.54% and a return on equity of 13.47%. The business had revenue of $3.67 billion for the quarter. During the same quarter last year, the company posted $1.47 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Synnex Corp. will post $6.57 EPS for the current year.

Dividend History for Synnex Corp. (NYSE:SNX)

A number of brokerages have issued reports on SNX. Stifel Nicolaus increased their price objective on shares of Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a research note on Tuesday, September 27th. Citigroup Inc. increased their price objective on shares of Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 27th. Zacks Investment Research downgraded shares of Synnex Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th. Needham & Company LLC reiterated a “hold” rating on shares of Synnex Corp. in a research note on Friday, June 24th. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a research note on Saturday, June 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Synnex Corp. presently has an average rating of “Hold” and an average target price of $106.71.

In related news, COO Dennis Polk sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $101.47, for a total value of $202,940.00. Following the completion of the transaction, the chief operating officer now owns 62,347 shares in the company, valued at approximately $6,326,350.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gregory L. Quesnel sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $111.98, for a total transaction of $783,860.00. Following the completion of the transaction, the director now owns 8,876 shares of the company’s stock, valued at approximately $993,934.48. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SNX. BlackRock Investment Management LLC raised its position in shares of Synnex Corp. by 8.3% in the second quarter. BlackRock Investment Management LLC now owns 192,427 shares of the company’s stock worth $18,246,000 after buying an additional 14,741 shares during the period. BlackRock Inc. raised its position in shares of Synnex Corp. by 80.9% in the second quarter. BlackRock Inc. now owns 28,924 shares of the company’s stock worth $2,743,000 after buying an additional 12,937 shares during the period. BlackRock Fund Advisors raised 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 worth $135,177,000 after buying an additional 45,946 shares during the period. BlackRock Institutional Trust Company N.A. raised 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 worth $83,779,000 after buying an additional 18,825 shares during the period. Finally, South Dakota Investment Council acquired a new position in shares of Synnex Corp. during the second quarter worth about $379,000. Institutional investors and hedge funds 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.

5 Day Chart for NYSE:SNX

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