Systematic Financial Management LP increased its stake in shares of Synnex Corp. (NYSE:SNX) by 10.5% during the second quarter, Holdings Channel reports. The institutional investor owned 19,575 shares of the company’s stock after buying an additional 1,855 shares during the period. Systematic Financial Management LP’s holdings in Synnex Corp. were worth $1,856,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its position in Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock valued at $104,000 after buying an additional 300 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Synnex Corp. by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 4,141 shares of the company’s stock valued at $393,000 after buying an additional 508 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its position in shares of Synnex Corp. by 2.7% in the second quarter. Paradigm Capital Management Inc. NY now owns 57,700 shares of the company’s stock valued at $5,471,000 after buying an additional 1,500 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Synnex Corp. by 52.1% in the second quarter. JPMorgan Chase & Co. now owns 786,864 shares of the company’s stock valued at $74,611,000 after buying an additional 269,364 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Synnex Corp. by 33.8% in the second quarter. Advisors Asset Management Inc. now owns 6,691 shares of the company’s stock valued at $634,000 after buying an additional 1,690 shares in the last quarter. 75.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Synnex Corp. (NYSE:SNX) traded up 0.11% on Wednesday, reaching $103.84. 48,128 shares of the company were exchanged. The firm has a 50 day moving average price of $104.17 and a 200-day moving average price of $94.69. The stock has a market capitalization of $4.13 billion, a PE ratio of 20.56 and a beta of 1.04. Synnex Corp. has a 12-month low of $75.87 and a 12-month high of $108.03.

Synnex Corp. (NYSE:SNX) last posted its earnings results on Thursday, June 23rd. The company reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.06. The business had revenue of $3.38 billion for the quarter. Synnex Corp. had a net margin of 1.50% and a return on equity of 13.22%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the company posted $1.55 EPS. On average, analysts predict that Synnex Corp. will post $6.23 EPS for the current fiscal year.

Several research analysts have recently commented on SNX shares. Raymond James Financial Inc. cut shares of Synnex Corp. from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 8th. Zacks Investment Research raised shares of Synnex Corp. from a “hold” rating to a “buy” rating and set a $117.00 target price on the stock in a report on Friday, September 9th. Brean Capital reaffirmed a “buy” rating and set a $108.00 target price (up from $97.00) on shares of Synnex Corp. in a report on Friday, June 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Synnex Corp. in a report on Friday, June 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $100.60.

In other news, insider Peter Larocque sold 996 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $92.45, for a total value of $92,080.20. Following the transaction, the insider now owns 25,884 shares of the company’s stock, valued at approximately $2,392,975.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Dennis Polk sold 1,000 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $105.91, for a total transaction of $105,910.00. Following the completion of the transaction, the chief operating officer now directly owns 59,697 shares in the company, valued at approximately $6,322,509.27. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

Synnex Corp. Company Profile

SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.

5 Day Chart for NYSE:SNX

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