Geode Capital Management LLC Has $39.64 Million Stake in SYNNEX Co. (SNX)

Geode Capital Management LLC decreased its position in shares of SYNNEX Co. (NYSE:SNX) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 291,563 shares of the business services provider’s stock after selling 2,896 shares during the period. Geode Capital Management LLC’s holdings in SYNNEX were worth $39,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oakbrook Investments LLC grew its stake in shares of SYNNEX by 30.3% during the 4th quarter. Oakbrook Investments LLC now owns 2,150 shares of the business services provider’s stock worth $292,000 after purchasing an additional 500 shares during the period. Rhumbline Advisers lifted its position in shares of SYNNEX by 0.8% during the 3rd quarter. Rhumbline Advisers now owns 66,828 shares of the business services provider’s stock valued at $8,454,000 after buying an additional 526 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of SYNNEX by 48.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,663 shares of the business services provider’s stock valued at $226,000 after buying an additional 541 shares in the last quarter. HL Financial Services LLC lifted its position in shares of SYNNEX by 2.2% during the 4th quarter. HL Financial Services LLC now owns 29,575 shares of the business services provider’s stock valued at $4,021,000 after buying an additional 625 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of SYNNEX by 11.0% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 7,050 shares of the business services provider’s stock valued at $892,000 after buying an additional 700 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors and hedge funds.

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In other SYNNEX news, CEO Dennis Polk sold 2,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $123.02, for a total value of $246,040.00. Following the transaction, the chief executive officer now owns 22,408 shares in the company, valued at approximately $2,756,632.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Simon Leung sold 1,000 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $122.99, for a total value of $122,990.00. The disclosure for this sale can be found here. Insiders sold a total of 1,268,400 shares of company stock worth $165,286,532 in the last 90 days. 3.20% of the stock is currently owned by insiders.

SYNNEX Co. (NYSE:SNX) opened at $121.17 on Tuesday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $5,060.93, a price-to-earnings ratio of 14.26 and a beta of 0.90. SYNNEX Co. has a fifty-two week low of $101.48 and a fifty-two week high of $141.94.

SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Tuesday, January 9th. The business services provider reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.10. The company had revenue of $5.31 billion for the quarter, compared to analyst estimates of $4.85 billion. SYNNEX had a return on equity of 16.43% and a net margin of 1.77%. The firm’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 EPS. equities research analysts forecast that SYNNEX Co. will post 10.42 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on SNX. Zacks Investment Research lowered SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. ValuEngine lowered SYNNEX from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Pivotal Research upgraded SYNNEX from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Wednesday, January 31st. Loop Capital increased their target price on SYNNEX from $1.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Finally, Needham & Company LLC increased their target price on SYNNEX from $145.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $145.38.

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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.

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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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