Public Employees Retirement Association of Colorado Has $12,260,000 Stake in Synnex Corp. (SNX)
Public Employees Retirement Association of Colorado held its position in shares of Synnex Corp. (NYSE:SNX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,300 shares of the company’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado owned approximately 0.33% of Synnex Corp. worth $12,260,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. LS Investment Advisors LLC raised its stake in shares of Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock valued at $164,000 after buying an additional 708 shares during the period. BlackRock Japan Co. Ltd purchased a new stake in shares of Synnex Corp. during the first quarter valued at $189,000. Meeder Asset Management Inc. purchased a new stake in shares of Synnex Corp. during the first quarter valued at $238,000. Parametrica Management Ltd purchased a new stake in shares of Synnex Corp. during the second quarter valued at $351,000. Finally, First Midwest Bank Trust Division raised its stake in shares of Synnex Corp. by 54.5% in the second quarter. First Midwest Bank Trust Division now owns 4,672 shares of the company’s stock valued at $443,000 after buying an additional 1,648 shares during the period. Institutional investors and hedge funds own 75.41% of the company’s stock.
Shares of Synnex Corp. (NYSE:SNX) traded down 0.21% during mid-day trading on Thursday, hitting $106.39. The stock had a trading volume of 164,913 shares. The stock’s 50-day moving average is $107.45 and its 200 day moving average is $96.19. Synnex Corp. has a 12 month low of $75.87 and a 12 month high of $118.80. The company has a market cap of $4.23 billion, a PE ratio of 20.04 and a beta of 1.10.
Synnex Corp. (NYSE:SNX) last posted its earnings results on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, beating 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 had revenue of $3.67 billion for the quarter. During the same period in the prior year, the company posted $1.47 EPS. The firm’s revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Synnex Corp. will post $6.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be issued a $0.25 dividend. This is an increase from Synnex Corp.’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, October 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. Synnex Corp.’s dividend payout ratio is currently 15.07%.
SNX has been the subject of several recent research reports. Zacks Investment Research raised Synnex Corp. from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, July 6th. Brean Capital reissued a “buy” rating and issued a $108.00 price objective (up previously from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Stifel Nicolaus lifted their price objective on Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a report on Tuesday, September 27th. Needham & Company LLC reissued a “hold” rating on shares of Synnex Corp. in a report on Tuesday, September 27th. Finally, Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Synnex Corp. in a report on Saturday, June 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $106.71.
In other Synnex Corp. news, COO Dennis Polk sold 1,000 shares of the company’s stock in a transaction dated 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 owns 57,947 shares in the company, valued at $6,612,332.17. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Peter Larocque sold 2,400 shares of the company’s stock in a transaction dated Friday, October 7th. The stock was sold at an average price of $111.28, for a total value of $267,072.00. Following the completion of the sale, the insider now owns 17,293 shares of the company’s stock, valued at approximately $1,924,365.04. The disclosure for this sale can be found here. 3.40% of the stock is owned by company insiders.
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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