Synnex Corporation (NYSE:SNX) CEO Kevin M. Murai sold 2,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $128.81, for a total transaction of $257,620.00. Following the completion of the sale, the chief executive officer now owns 144,125 shares of the company’s stock, valued at approximately $18,564,741.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Synnex Corporation (SNX) traded down $0.32 during trading on Friday, hitting $131.50. 110,780 shares of the stock were exchanged, compared to its average volume of 204,324. Synnex Corporation has a 1 year low of $101.48 and a 1 year high of $135.87. The company has a market cap of $5,161.90, a P/E ratio of 14.97 and a beta of 1.09. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 0.25.
Synnex Corporation (NYSE:SNX) last released its earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.19. Synnex Corporation had a net margin of 1.89% and a return on equity of 16.58%. The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4 billion. During the same period in the prior year, the firm earned $1.73 EPS. The company’s revenue was up 16.5% compared to the same quarter last year. research analysts expect that Synnex Corporation will post 8.79 earnings per share for the current fiscal year.
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SNX has been the subject of several analyst reports. ValuEngine lowered shares of Synnex Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. BidaskClub lowered shares of Synnex Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $132.00 price objective on shares of Synnex Corporation in a research note on Tuesday, October 17th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Synnex Corporation in a research note on Monday, September 18th. Finally, Citigroup Inc. increased their price objective on shares of Synnex Corporation from $122.00 to $130.00 and gave the company a “neutral” rating in a research note on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Synnex Corporation presently has a consensus rating of “Buy” and a consensus price target of $135.13.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNX. Advisor Group Inc. boosted its holdings in Synnex Corporation by 50.1% in the 2nd quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock worth $112,000 after buying an additional 310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Synnex Corporation by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock worth $135,000 after buying an additional 96 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Synnex Corporation by 8.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,310 shares of the business services provider’s stock worth $147,000 after buying an additional 106 shares during the period. Ronald Blue & Co. LLC bought a new position in Synnex Corporation in the 2nd quarter worth approximately $203,000. Finally, Opus Capital Group LLC bought a new position in Synnex Corporation in the 2nd quarter worth approximately $219,000. 71.89% of the stock is owned by institutional investors.
Synnex Corporation Company 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.
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