Fuller & Thaler Asset Management Inc. boosted its position in Synnex Corporation (NYSE:SNX) by 46.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,900 shares of the business services provider’s stock after purchasing an additional 8,800 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 0.07% of Synnex Corporation worth $3,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capstone Asset Management Co. increased its position in shares of Synnex Corporation by 5.8% during the second quarter. Capstone Asset Management Co. now owns 3,998 shares of the business services provider’s stock worth $480,000 after acquiring an additional 220 shares during the period. Bank of Montreal Can purchased a new position in shares of Synnex Corporation during the second quarter worth approximately $309,000. Oregon Public Employees Retirement Fund increased its position in shares of Synnex Corporation by 4.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 10,645 shares of the business services provider’s stock worth $1,277,000 after acquiring an additional 477 shares during the period. LS Investment Advisors LLC increased its position in shares of Synnex Corporation by 15.4% during the second quarter. LS Investment Advisors LLC now owns 2,259 shares of the business services provider’s stock worth $271,000 after acquiring an additional 302 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Synnex Corporation by 0.5% during the second quarter. Nisa Investment Advisors LLC now owns 11,160 shares of the business services provider’s stock worth $1,339,000 after acquiring an additional 50 shares during the period. 72.08% of the stock is owned by institutional investors and hedge funds.
Shares of Synnex Corporation (NYSE SNX) traded down $1.27 during mid-day trading on Friday, reaching $131.39. 88,600 shares of the company traded hands, compared to its average volume of 203,400. The stock has a market capitalization of $5,251.02, a price-to-earnings ratio of 15.23 and a beta of 1.09. The company has a current ratio of 1.61, a quick ratio of 0.80 and a debt-to-equity ratio of 0.25. Synnex Corporation has a 12 month low of $101.48 and a 12 month high of $135.87.
Synnex Corporation (NYSE:SNX) last issued its quarterly earnings data on Monday, September 25th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.19. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4 billion. Synnex Corporation had a net margin of 1.89% and a return on equity of 16.58%. Synnex Corporation’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company posted $1.73 earnings per share. analysts anticipate that Synnex Corporation will post 8.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 13th were issued a $0.30 dividend. This is a positive change from Synnex Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 0.91%. The ex-dividend date was Thursday, October 12th. Synnex Corporation’s payout ratio is currently 16.28%.
In other Synnex Corporation news, CEO Kevin M. Murai sold 2,000 shares of Synnex Corporation stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $128.81, for a total value of $257,620.00. Following the transaction, the chief executive officer now directly owns 144,125 shares of the company’s stock, valued at $18,564,741.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Dennis Polk sold 1,500 shares of Synnex Corporation stock in a transaction on Friday, September 1st. The stock was sold at an average price of $115.06, for a total transaction of $172,590.00. Following the completion of the transaction, the chief operating officer now directly owns 25,968 shares in the company, valued at $2,987,878.08. The disclosure for this sale can be found here. Insiders sold 12,421 shares of company stock worth $1,558,765 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.
A number of equities analysts have recently commented on SNX shares. Zacks Investment Research lowered shares of Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Pivotal Research started coverage on shares of Synnex Corporation in a research report on Friday, October 6th. They set a “hold” rating and a $137.00 target price on the stock. Needham & Company LLC lifted their price objective on shares of Synnex Corporation from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. ValuEngine raised shares of Synnex Corporation from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Loop Capital lifted their price objective on shares of Synnex Corporation from $140.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $135.13.
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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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