Affinity Wealth Management grew its stake in shares of Synnex Corporation (NYSE:SNX) by 72.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,222 shares of the business services provider’s stock after acquiring an additional 1,353 shares during the quarter. Affinity Wealth Management’s holdings in Synnex were worth $408,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SNX. FMR LLC increased its holdings in shares of Synnex by 5.7% during the second quarter. FMR LLC now owns 5,587,157 shares of the business services provider’s stock valued at $670,236,000 after acquiring an additional 302,301 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Synnex by 189.1% during the third quarter. Victory Capital Management Inc. now owns 439,603 shares of the business services provider’s stock valued at $55,614,000 after acquiring an additional 287,522 shares in the last quarter. Teachers Advisors LLC increased its holdings in shares of Synnex by 190.5% during the second quarter. Teachers Advisors LLC now owns 251,605 shares of the business services provider’s stock valued at $30,183,000 after acquiring an additional 165,008 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Synnex by 13.3% during the second quarter. Goldman Sachs Group Inc. now owns 1,315,521 shares of the business services provider’s stock valued at $157,810,000 after acquiring an additional 154,174 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Synnex by 972.2% during the second quarter. Voya Investment Management LLC now owns 122,360 shares of the business services provider’s stock valued at $14,678,000 after acquiring an additional 110,948 shares in the last quarter. Hedge funds and other institutional investors own 71.72% of the company’s stock.

Several equities analysts have recently weighed in on SNX shares. ValuEngine upgraded Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Loop Capital raised their price target on Synnex from $140.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. Needham & Company LLC raised their price target on Synnex from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. Zacks Investment Research upgraded Synnex from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a report on Thursday, September 21st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $132.00 price objective on shares of Synnex in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $136.22.

Synnex Corporation (NYSE:SNX) traded up $0.71 during trading on Monday, hitting $131.43. The company had a trading volume of 127,100 shares, compared to its average volume of 201,802. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.61 and a quick ratio of 0.80. Synnex Corporation has a 12 month low of $101.48 and a 12 month high of $137.80. The stock has a market capitalization of $5,252.62, a PE ratio of 15.23 and a beta of 1.08.

Synnex (NYSE:SNX) last released its quarterly earnings data on Monday, September 25th. The business services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $1.97 by $0.19. Synnex 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 analysts’ expectations of $4 billion. During the same period last year, the firm posted $1.73 earnings per share. Synnex’s revenue was up 16.5% compared to the same quarter last year. research analysts anticipate that Synnex Corporation will post 8.78 earnings per share for the current fiscal year.

In other Synnex news, CEO Kevin M. Murai sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $113.66, for a total value of $227,320.00. Following the transaction, the chief executive officer now directly owns 142,311 shares of the company’s stock, valued at $16,175,068.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fred A. Breidenbach sold 1,321 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $127.92, for a total value of $168,982.32. Following the completion of the transaction, the director now directly owns 18,087 shares in the company, valued at $2,313,689.04. The disclosure for this sale can be found here. Insiders have sold 12,721 shares of company stock worth $1,629,475 over the last ninety days. 3.20% of the stock is currently owned by insiders.

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About Synnex

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 (NYSE:SNX)

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