Synnex Corporation (NYSE:SNX) SVP Simon Leung sold 759 shares of Synnex Corporation stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $119.77, for a total value of $90,905.43. Following the transaction, the senior vice president now owns 25,053 shares of the company’s stock, valued at approximately $3,000,597.81. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Simon Leung also recently made the following trade(s):
- On Monday, July 3rd, Simon Leung sold 914 shares of Synnex Corporation stock. The shares were sold at an average price of $120.08, for a total value of $109,753.12.
- On Thursday, June 1st, Simon Leung sold 856 shares of Synnex Corporation stock. The shares were sold at an average price of $112.37, for a total value of $96,188.72.
Shares of Synnex Corporation (SNX) traded up 0.17% during trading on Friday, hitting $118.24. The company had a trading volume of 116,308 shares. The stock’s 50-day moving average is $120.39 and its 200 day moving average is $115.66. Synnex Corporation has a 52-week low of $99.75 and a 52-week high of $131.35. The firm has a market capitalization of $4.72 billion, a P/E ratio of 16.97 and a beta of 1.04.
Synnex Corporation (NYSE:SNX) last posted 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 firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Synnex Corporation had a net margin of 1.86% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 earnings per share. Equities research analysts predict that Synnex Corporation will post $8.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, July 12th. This represents a $1.00 annualized dividend and a yield of 0.85%. Synnex Corporation’s dividend payout ratio is currently 14.35%.
Synnex Corporation declared that its board has initiated a stock repurchase program on Thursday, June 22nd that permits the company to buyback $300.00 million in shares. This buyback authorization permits the business services provider to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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A number of research firms have weighed in on SNX. BidaskClub lowered Synnex Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Stifel Nicolaus reiterated a “buy” rating and set a $132.00 price objective on shares of Synnex Corporation in a research note on Thursday. Citigroup Inc. reduced their price objective on Synnex Corporation from $130.00 to $122.00 and set a “neutral” rating for the company in a research note on Friday, June 9th. Raymond James Financial, Inc. upgraded Synnex Corporation from a “market perform” rating to a “strong-buy” rating and set a $122.00 price objective for the company in a research note on Friday, May 19th. Finally, Zacks Investment Research lowered Synnex Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $126.67.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Synnex Corporation by 9,152.6% in the first quarter. BlackRock Inc. now owns 3,655,501 shares of the business services provider’s stock valued at $409,198,000 after buying an additional 3,615,993 shares in the last quarter. Kennedy Capital Management Inc. boosted its position in Synnex Corporation by 74.4% in the first quarter. Kennedy Capital Management Inc. now owns 286,482 shares of the business services provider’s stock valued at $32,069,000 after buying an additional 122,187 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Synnex Corporation by 9.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,161,347 shares of the business services provider’s stock valued at $130,001,000 after buying an additional 104,932 shares in the last quarter. Vanguard Group Inc. boosted its position in Synnex Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 3,150,496 shares of the business services provider’s stock valued at $352,667,000 after buying an additional 95,341 shares in the last quarter. Finally, IronBridge Capital Management LP purchased a new position in Synnex Corporation during the first quarter valued at about $5,734,000. 70.99% of the stock is owned by hedge funds and other institutional investors.
About Synnex Corporation
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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