Peter Larocque Sells 2,400 Shares of Synnex Corp. (SNX) Stock
Synnex Corp. (NYSE:SNX) insider Peter Larocque sold 2,400 shares of the firm’s stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $111.28, for a total value of $267,072.00. Following the completion of the transaction, the insider now owns 17,293 shares in the company, valued at approximately $1,924,365.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Synnex Corp. (NYSE:SNX) opened at 107.78 on Wednesday. The company has a market cap of $4.29 billion, a PE ratio of 20.31 and a beta of 1.10. Synnex Corp. has a 12-month low of $75.87 and a 12-month high of $118.80. The stock’s 50 day moving average price is $107.48 and its 200 day moving average price is $96.12.
Synnex Corp. (NYSE:SNX) last posted its quarterly earnings results on Monday, September 26th. The company reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.17. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The company earned $3.67 billion during the quarter. During the same period last year, the firm posted $1.47 EPS. Synnex Corp.’s quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Synnex Corp. will post $6.57 EPS for the current year.
The firm also recently declared 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 is Wednesday, October 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.93%. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20. Synnex Corp.’s payout ratio is 15.07%.
Several institutional investors have recently bought and sold shares of SNX. Vanguard Group Inc. boosted 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 period. BlackRock Fund Advisors boosted 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 last quarter. State Street Corp boosted 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 worth $85,379,000 after buying an additional 8,892 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted 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 last quarter. Finally, JPMorgan Chase & Co. boosted 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 worth $74,611,000 after buying an additional 269,364 shares during the last quarter. 75.41% of the stock is owned by institutional investors.
SNX has been the topic of several recent research reports. Zacks Investment Research upgraded Synnex Corp. from a “hold” rating to a “buy” rating and set a $117.00 price target on the stock in a report on Friday, September 9th. Stifel Nicolaus raised their price target on Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a report on Tuesday, September 27th. Credit Agricole SA raised their price target on Synnex Corp. from $88.00 to $113.00 and gave the company an “underperform” rating in a report on Tuesday, September 27th. Brean Capital reiterated a “buy” rating and issued a $108.00 price target (up previously from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $106.71.
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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