Aperio Group LLC Acquires 114 Shares of Synnex Corporation (NYSE:SNX)
Aperio Group LLC raised its stake in shares of Synnex Corporation (NYSE:SNX) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,817 shares of the business services provider’s stock after buying an additional 114 shares during the period. Aperio Group LLC’s holdings in Synnex Corporation were worth $1,777,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in SNX. US Bancorp DE raised its stake in shares of Synnex Corporation by 34.3% in the first quarter. US Bancorp DE now owns 1,112 shares of the business services provider’s stock valued at $124,000 after buying an additional 284 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Synnex Corporation by 8.8% in the first quarter. PNC Financial Services Group Inc. now owns 1,310 shares of the business services provider’s stock valued at $147,000 after buying an additional 106 shares during the period. Invictus RG acquired a new stake in shares of Synnex Corporation during the first quarter valued at about $196,000. Affinity Wealth Management acquired a new stake in shares of Synnex Corporation during the first quarter valued at about $205,000. Finally, Jane Street Group LLC acquired a new stake in shares of Synnex Corporation during the first quarter valued at about $228,000. Institutional investors own 70.97% of the company’s stock.
Synnex Corporation (NYSE SNX) traded down 1.04% during trading on Thursday, hitting $117.51. 41,944 shares of the company’s stock were exchanged. Synnex Corporation has a 12-month low of $100.06 and a 12-month high of $131.35. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 16.86 and a beta of 1.04. The company’s 50-day moving average price is $120.39 and its 200 day moving average price is $115.61.
Synnex Corporation (NYSE:SNX) last issued its quarterly earnings data on Thursday, June 22nd. The business services provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.29. The business had revenue of $3.94 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Synnex Corporation had a net margin of 1.86% and a return on equity of 16.29%. The business’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned $1.37 EPS. Equities analysts forecast that Synnex Corporation will post $8.41 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. Synnex Corporation’s payout ratio is 14.35%.
Synnex Corporation announced that its Board of Directors has approved a share repurchase program on Thursday, June 22nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 6.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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Several brokerages recently issued reports on SNX. Zacks Investment Research lowered shares of Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. BidaskClub lowered shares of Synnex Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Stifel Nicolaus restated a “buy” rating and set a $132.00 target price on shares of Synnex Corporation in a research report on Thursday, August 3rd. Citigroup Inc. restated a “neutral” rating and set a $133.00 target price (up from $122.00) on shares of Synnex Corporation in a research report on Sunday, June 25th. Finally, Raymond James Financial, Inc. upgraded shares of Synnex Corporation from a “market perform” rating to a “strong-buy” rating and set a $122.00 target price for the company in a research report on Friday, May 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $126.67.
In other news, CEO Kevin M. Murai sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $118.83, for a total transaction of $237,660.00. Following the sale, the chief executive officer now owns 142,311 shares of the company’s stock, valued at approximately $16,910,816.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Fred A. Breidenbach sold 318 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $125.00, for a total transaction of $39,750.00. Following the sale, the director now directly owns 19,408 shares in the company, valued at approximately $2,426,000. The disclosure for this sale can be found here. Insiders have sold a total of 27,028 shares of company stock worth $3,226,618 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.
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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