ING Groep NV Has $598,000 Position in SYNNEX Co. (SNX)

ING Groep NV increased its holdings in shares of SYNNEX Co. (NYSE:SNX) by 23.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,402 shares of the business services provider’s stock after buying an additional 831 shares during the quarter. ING Groep NV’s holdings in SYNNEX were worth $598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SNX. Victory Capital Management Inc. lifted its position in SYNNEX by 189.1% during the third quarter. Victory Capital Management Inc. now owns 439,603 shares of the business services provider’s stock worth $55,614,000 after buying an additional 287,522 shares during the period. Assenagon Asset Management S.A. lifted its position in SYNNEX by 541.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 205,406 shares of the business services provider’s stock worth $27,925,000 after buying an additional 173,406 shares during the period. Russell Investments Group Ltd. lifted its position in SYNNEX by 155.9% during the third quarter. Russell Investments Group Ltd. now owns 109,140 shares of the business services provider’s stock worth $13,808,000 after buying an additional 66,484 shares during the period. Wells Fargo & Company MN lifted its position in SYNNEX by 104.9% during the third quarter. Wells Fargo & Company MN now owns 110,873 shares of the business services provider’s stock worth $14,027,000 after buying an additional 56,764 shares during the period. Finally, Shell Asset Management Co. raised its holdings in shares of SYNNEX by 282.8% in the 3rd quarter. Shell Asset Management Co. now owns 67,441 shares of the business services provider’s stock worth $4,359,000 after purchasing an additional 49,824 shares during the period. Hedge funds and other institutional investors own 70.73% of the company’s stock.

Shares of SYNNEX Co. (SNX) opened at $120.63 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.42 and a debt-to-equity ratio of 0.50. SYNNEX Co. has a 12 month low of $101.48 and a 12 month high of $141.94. The stock has a market capitalization of $4,729.86, a PE ratio of 16.08 and a beta of 0.93.

SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, January 9th. The business services provider reported $2.79 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.31 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The company’s revenue for the quarter was up 36.7% compared to the same quarter last year. analysts expect that SYNNEX Co. will post 10.42 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 19th were paid a $0.35 dividend. The ex-dividend date was Thursday, January 18th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from SYNNEX’s previous quarterly dividend of $0.30. SYNNEX’s dividend payout ratio (DPR) is 18.67%.

In other news, CFO Marshall Witt sold 300 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $122.00, for a total value of $36,600.00. Following the completion of the sale, the chief financial officer now owns 10,531 shares in the company, valued at $1,284,782. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Star Developments Ltd Silver sold 451,000 shares of the stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $130.30, for a total value of $58,765,300.00. Following the completion of the sale, the insider now owns 4,997,878 shares of the company’s stock, valued at approximately $651,223,503.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,268,900 shares of company stock valued at $165,389,136. Insiders own 3.20% of the company’s stock.

A number of equities analysts have recently commented on the company. Needham & Company LLC raised their price objective on SYNNEX from $145.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Zacks Investment Research downgraded SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Citigroup restated a “neutral” rating and issued a $150.00 price objective on shares of SYNNEX in a report on Wednesday, January 10th. ValuEngine downgraded SYNNEX from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Pivotal Research restated a “hold” rating and issued a $150.00 price objective (up from $138.00) on shares of SYNNEX in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $145.38.

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SYNNEX 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.

Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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