Synnex Corp. (SNX) Insider Sells $275,132.00 in Stock
Synnex Corp. (NYSE:SNX) insider Peter Larocque sold 2,600 shares of the company’s stock in a transaction dated Thursday, October 13th. The shares were sold at an average price of $105.82, for a total value of $275,132.00. Following the completion of the sale, the insider now directly owns 14,303 shares of the company’s stock, valued at $1,513,543.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Peter Larocque also recently made the following trade(s):
- On Wednesday, October 12th, Peter Larocque sold 9,551 shares of Synnex Corp. stock. The shares were sold at an average price of $106.62, for a total value of $1,018,327.62.
- On Friday, October 7th, Peter Larocque sold 2,400 shares of Synnex Corp. stock. The shares were sold at an average price of $111.28, for a total value of $267,072.00.
Shares of Synnex Corp. (NYSE:SNX) traded down 1.09% during trading on Friday, hitting $104.90. The stock had a trading volume of 183,966 shares. The firm has a market cap of $4.17 billion, a P/E ratio of 19.76 and a beta of 1.10. The firm’s 50-day moving average is $107.42 and its 200-day moving average is $96.26. Synnex Corp. has a one year low of $75.87 and a one year high of $118.80.
Synnex Corp. (NYSE:SNX) last posted its quarterly earnings results on Monday, September 26th. The company reported $1.73 EPS for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.17. The business earned $3.67 billion during the quarter. Synnex Corp. had a return on equity of 13.47% and a net margin of 1.54%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $1.47 earnings per share. Equities research analysts forecast that Synnex Corp. will post $6.57 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. 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 18.83%.
A number of institutional investors have recently bought and sold shares of SNX. Acrospire Investment Management LLC increased its position in Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock worth $104,000 after buying an additional 300 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in shares of Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock worth $123,000 after buying an additional 600 shares during the last quarter. Societe Generale bought a new position in shares of Synnex Corp. during the second quarter worth approximately $156,000. LS Investment Advisors LLC increased its position 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 worth $164,000 after buying an additional 708 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Synnex Corp. during the second quarter worth approximately $175,000. Institutional investors and hedge funds own 75.41% of the company’s stock.
A number of brokerages recently issued reports on SNX. Brean Capital reissued a “buy” rating and issued a $124.00 target price (up from $108.00) on shares of Synnex Corp. in a research report on Wednesday, September 28th. Credit Agricole SA upped their target price on Synnex Corp. from $88.00 to $113.00 and gave the company an “underperform” rating in a research report on Tuesday, September 27th. Citigroup Inc. upped their target price on Synnex Corp. from $103.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, September 27th. Stifel Nicolaus upped their price objective on Synnex Corp. from $98.00 to $104.00 and gave the company a “hold” rating in a research note on Tuesday, September 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Synnex Corp. in a research note on Tuesday, September 27th. 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. The company currently has a consensus rating of “Hold” and a consensus price target 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.
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