Peter Larocque Sells 9,551 Shares of Synnex Corp. (SNX) Stock
Synnex Corp. (NYSE:SNX) insider Peter Larocque sold 9,551 shares of the firm’s stock in a transaction that occurred on Wednesday, October 12th. The shares were sold at an average price of $106.62, for a total value of $1,018,327.62. Following the transaction, the insider now directly owns 19,150 shares of the company’s stock, valued at approximately $2,041,773. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Peter Larocque also recently made the following trade(s):
- On Thursday, October 13th, Peter Larocque sold 2,600 shares of Synnex Corp. stock. The shares were sold at an average price of $105.82, for a total value of $275,132.00.
- On Friday, October 7th, Peter Larocque sold 2,400 shares of Synnex Corp. stock. The stock was sold at an average price of $111.28, for a total value of $267,072.00.
Synnex Corp. (NYSE:SNX) opened at 104.23 on Tuesday. The stock has a 50 day moving average price of $107.34 and a 200-day moving average price of $96.50. Synnex Corp. has a 1-year low of $75.87 and a 1-year high of $118.80. The stock has a market capitalization of $4.15 billion, a P/E ratio of 19.64 and a beta of 1.10.
Synnex Corp. (NYSE:SNX) last announced its quarterly earnings results on Monday, September 26th. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.17. The firm 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 in the previous year, the firm posted $1.47 EPS. Equities research analysts expect 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 issued a $0.25 dividend. This is a positive change 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 dividend yield of 0.96%. Synnex Corp.’s payout ratio is presently 18.83%.
A number of research firms have commented on SNX. Raymond James Financial Inc. reissued a “market perform” rating on shares of Synnex Corp. in a report on Friday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. Citigroup Inc. lifted their target price on Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, September 27th. Brean Capital reissued a “buy” rating and issued a $108.00 target price (up previously from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Credit Agricole SA lifted their target price on Synnex Corp. from $88.00 to $113.00 and gave the stock an “underperform” rating in a report on Tuesday, September 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Synnex Corp. presently has an average rating of “Hold” and a consensus price target of $106.71.
Several hedge funds have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its stake in shares of 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 last quarter. Fuller & Thaler Asset Management Inc. raised its stake in 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 in the last quarter. Societe Generale bought a new stake in Synnex Corp. during the second quarter worth $156,000. LS Investment Advisors LLC raised its stake in 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 in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Synnex Corp. during the second quarter worth $175,000. Hedge funds and other institutional investors own 75.36% 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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