Capital Analysts LLC acquired a new stake in shares of Synnex Corporation (NYSE:SNX) during the second quarter, according to its most recent filing with the SEC. The fund acquired 8,053 shares of the business services provider’s stock, valued at approximately $966,000.

Other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Synnex Corporation by 3.1% in the first quarter. First Trust Advisors LP now owns 21,722 shares of the business services provider’s stock valued at $2,432,000 after buying an additional 659 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Synnex Corporation by 26.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,622 shares of the business services provider’s stock valued at $1,749,000 after buying an additional 3,278 shares during the last quarter. 361 Capital LLC bought a new position in shares of Synnex Corporation during the first quarter valued at approximately $785,000. Capital One National Association raised its position in shares of Synnex Corporation by 3.7% in the first quarter. Capital One National Association now owns 9,127 shares of the business services provider’s stock valued at $1,022,000 after buying an additional 326 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Synnex Corporation by 1.0% in the first quarter. LSV Asset Management now owns 38,600 shares of the business services provider’s stock valued at $4,320,000 after buying an additional 400 shares during the last quarter. 71.39% of the stock is owned by hedge funds and other institutional investors.

Synnex Corporation (NYSE:SNX) opened at 116.63 on Wednesday. The company has a 50-day moving average of $118.53 and a 200 day moving average of $115.29. Synnex Corporation has a one year low of $100.06 and a one year high of $131.35. The firm has a market cap of $4.66 billion, a P/E ratio of 16.74 and a beta of 1.04.

Synnex Corporation (NYSE:SNX) last announced its quarterly earnings results on Thursday, June 22nd. The business services provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.29. The business had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.79 billion. Synnex Corporation had a return on equity of 16.29% and a net margin of 1.86%. The business’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. Equities research analysts expect that Synnex Corporation will post $8.40 earnings per share for the current fiscal year.

Synnex Corporation announced that its Board of Directors has authorized a stock repurchase plan on Thursday, June 22nd that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 6.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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SNX has been the topic of several research reports. Citigroup Inc. reiterated a “neutral” rating and issued a $133.00 price target (up previously from $122.00) on shares of Synnex Corporation in a report on Sunday, June 25th. BidaskClub downgraded shares of Synnex Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Stifel Nicolaus reiterated a “buy” rating and issued a $128.00 price target (up previously from $120.00) on shares of Synnex Corporation in a report on Friday, June 9th. Loop Capital initiated coverage on shares of Synnex Corporation in a report on Thursday, August 24th. They issued a “buy” rating and a $140.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Synnex Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $128.57.

In other Synnex Corporation news, COO Dennis Polk sold 1,500 shares of Synnex Corporation stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $111.51, for a total transaction of $167,265.00. Following the sale, the chief operating officer now owns 35,468 shares of the company’s stock, valued at approximately $3,955,036.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea M. Zulberti sold 2,500 shares of Synnex Corporation stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $126.00, for a total value of $315,000.00. Following the sale, the director now directly owns 14,922 shares in the company, valued at approximately $1,880,172. The disclosure for this sale can be found here. In the last three months, insiders sold 27,028 shares of company stock worth $3,226,618. Company insiders own 3.20% of the company’s stock.

Synnex Corporation Company Profile

Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.

Institutional Ownership by Quarter for Synnex Corporation (NYSE:SNX)

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