Synnex Corporation (NYSE:SNX) Director Fred A. Breidenbach sold 1,321 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $127.92, for a total value of $168,982.32. Following the sale, the director now owns 18,087 shares in the company, valued at approximately $2,313,689.04. The sale was disclosed in a filing with the SEC, which is available through this link.

Synnex Corporation (NYSE SNX) opened at 128.72 on Thursday. Synnex Corporation has a one year low of $100.06 and a one year high of $131.35. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 18.47 and a beta of 1.08. The firm has a 50-day moving average price of $117.65 and a 200 day moving average price of $115.25.

Synnex Corporation (NYSE:SNX) last announced its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.19. Synnex Corporation had a return on equity of 16.58% and a net margin of 1.89%. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4 billion. During the same quarter in the previous year, the business earned $1.73 EPS. Synnex Corporation’s revenue was up 16.5% compared to the same quarter last year. Equities analysts expect that Synnex Corporation will post $8.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, October 12th. This is an increase from Synnex Corporation’s previous quarterly dividend of $0.25. Synnex Corporation’s payout ratio is currently 13.57%.

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

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Several equities research analysts recently commented on SNX shares. Zacks Investment Research lowered Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Citigroup Inc. restated a “neutral” rating and set a $133.00 target price (up previously from $122.00) on shares of Synnex Corporation in a research report on Sunday, June 25th. BidaskClub lowered Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. ValuEngine lowered Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Needham & Company LLC upped their target price on Synnex Corporation from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Synnex Corporation presently has a consensus rating of “Buy” and a consensus target price of $134.86.

Institutional investors have recently bought and sold shares of the business. Advisor Group Inc. boosted its position in Synnex Corporation by 50.1% during the 2nd quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 310 shares in the last quarter. US Bancorp DE boosted its position in Synnex Corporation by 34.3% during the 1st quarter. US Bancorp DE now owns 1,112 shares of the business services provider’s stock valued at $124,000 after acquiring an additional 284 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Synnex Corporation by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 96 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Synnex Corporation by 8.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,310 shares of the business services provider’s stock valued at $147,000 after acquiring an additional 106 shares in the last quarter. Finally, Ronald Blue & Co. LLC bought a new stake in Synnex Corporation during the 2nd quarter valued at approximately $203,000. 71.26% of the stock is currently owned by institutional investors and hedge funds.

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.

Insider Buying and Selling by Quarter for Synnex Corporation (NYSE:SNX)

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