First Citizens Bank & Trust Co. reduced its stake in Synnex Corporation (NYSE:SNX) by 20.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,315 shares of the business services provider’s stock after selling 613 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Synnex were worth $315,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Public Employees Retirement System of Ohio acquired a new stake in Synnex in the 3rd quarter worth approximately $889,000. California Public Employees Retirement System lifted its holdings in Synnex by 5.7% in the 3rd quarter. California Public Employees Retirement System now owns 58,110 shares of the business services provider’s stock worth $7,351,000 after purchasing an additional 3,110 shares during the last quarter. Affinity Wealth Management lifted its holdings in Synnex by 72.4% in the 3rd quarter. Affinity Wealth Management now owns 3,222 shares of the business services provider’s stock worth $408,000 after purchasing an additional 1,353 shares during the last quarter. Jane Street Group LLC acquired a new stake in Synnex in the 3rd quarter worth approximately $484,000. Finally, Invictus RG lifted its holdings in Synnex by 30.6% in the 3rd quarter. Invictus RG now owns 2,994 shares of the business services provider’s stock worth $379,000 after purchasing an additional 701 shares during the last quarter. Hedge funds and other institutional investors own 71.68% of the company’s stock.
Several equities research analysts recently weighed in on the company. Pivotal Research assumed coverage on Synnex in a report on Friday, October 6th. They issued a “hold” rating and a $137.00 target price for the company. Needham & Company LLC boosted their target price on Synnex from $145.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday. ValuEngine upgraded Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research lowered Synnex from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Finally, Citigroup restated a “neutral” rating and issued a $150.00 target price on shares of Synnex in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Synnex presently has an average rating of “Buy” and a consensus price target of $145.38.
Synnex Corporation (SNX) opened at $137.97 on Friday. Synnex Corporation has a 1-year low of $101.48 and a 1-year high of $141.94. The company has a market capitalization of $5,510.00, a P/E ratio of 18.37 and a beta of 1.08. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.50.
Synnex (NYSE:SNX) last issued its quarterly earnings results on Tuesday, January 9th. The business services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.10. Synnex had a return on equity of 16.43% and a net margin of 1.77%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same period in the previous year, the company earned $2.57 earnings per share. The company’s quarterly revenue was up 36.7% compared to the same quarter last year. equities research analysts anticipate that Synnex Corporation will post 10.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 19th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, January 18th. This is a positive change from Synnex’s previous quarterly dividend of $0.30. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.01%. Synnex’s payout ratio is 15.98%.
In other news, COO Dennis Polk sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $134.91, for a total transaction of $202,365.00. Following the sale, the chief operating officer now directly owns 21,874 shares in the company, valued at $2,951,021.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas S. Wurster sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $136.57, for a total value of $40,971.00. Following the sale, the director now owns 10,531 shares in the company, valued at $1,438,218.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,900 shares of company stock valued at $1,050,392. Corporate insiders own 3.20% of the company’s stock.
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.
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