HL Financial Services LLC increased its position in shares of SYNNEX Co. (NYSE:SNX) by 2.2% during the 4th quarter, Holdings Channel reports. The firm owned 29,575 shares of the business services provider’s stock after purchasing an additional 625 shares during the quarter. HL Financial Services LLC’s holdings in SYNNEX were worth $4,021,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in SNX. Advisor Group Inc. boosted its holdings in SYNNEX by 50.1% during the second quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock worth $112,000 after purchasing an additional 310 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in SYNNEX by 48.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,663 shares of the business services provider’s stock worth $226,000 after purchasing an additional 541 shares during the last quarter. Shelton Capital Management purchased a new position in SYNNEX during the second quarter worth about $246,000. Canada Pension Plan Investment Board boosted its holdings in SYNNEX by 175.0% during the third quarter. Canada Pension Plan Investment Board now owns 2,200 shares of the business services provider’s stock worth $278,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Oakbrook Investments LLC boosted its holdings in SYNNEX by 30.3% during the fourth 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 last quarter. Institutional investors and hedge funds own 71.02% of the company’s stock.
In other SYNNEX news, major shareholder Star Developments Ltd Silver sold 451,000 shares of the business’s 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 transaction, the insider now directly owns 4,997,878 shares in the company, valued at $651,223,503.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrea M. Zulberti sold 1,500 shares of the business’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $137.91, for a total transaction of $206,865.00. Following the completion of the transaction, the director now owns 13,922 shares in the company, valued at $1,919,983.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,270,900 shares of company stock worth $165,646,756. Corporate insiders own 3.20% of the company’s stock.
SYNNEX (NYSE:SNX) last released its earnings results on Tuesday, January 9th. The business services provider reported $2.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.69 by $0.10. The firm had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $4.85 billion. SYNNEX had a net margin of 1.77% and a return on equity of 16.43%. The company’s quarterly revenue was up 36.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.57 earnings per share. equities research analysts anticipate 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. Shareholders of record on Friday, January 19th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.17%. This is a boost from SYNNEX’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, January 18th. SYNNEX’s payout ratio is presently 18.67%.
Several research analysts recently weighed in on the stock. Loop Capital boosted their price target on shares of SYNNEX from $1.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC boosted their price target on shares of SYNNEX from $145.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Citigroup restated a “neutral” rating and set a $150.00 price target on shares of SYNNEX in a report on Wednesday, January 10th. Pivotal Research restated a “hold” rating and set a $150.00 price target (up from $138.00) on shares of SYNNEX in a report on Wednesday, January 10th. Finally, Zacks Investment Research upgraded shares of SYNNEX from a “hold” rating to a “buy” rating and set a $153.00 price target on the stock in a report on Saturday, January 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. SYNNEX currently has a consensus rating of “Buy” and an average target price of $145.38.
SYNNEX 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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