Dimensional Fund Advisors LP Has $257.35 Million Position in Synnex Corporation (SNX)
Dimensional Fund Advisors LP lowered its position in shares of Synnex Corporation (NYSE:SNX) by 9.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,034,221 shares of the business services provider’s stock after selling 209,718 shares during the quarter. Dimensional Fund Advisors LP owned 5.09% of Synnex worth $257,351,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisor Group Inc. grew 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 valued at $112,000 after purchasing an additional 310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Synnex by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 96 shares during the period. Opus Capital Group LLC acquired a new position in Synnex during the second quarter valued at approximately $219,000. Affinity Wealth Management grew its holdings in Synnex by 1.9% during the second quarter. Affinity Wealth Management now owns 1,869 shares of the business services provider’s stock valued at $224,000 after purchasing an additional 34 shares during the period. Finally, Shelton Capital Management acquired a new position in Synnex during the second quarter valued at approximately $246,000. Hedge funds and other institutional investors own 71.72% of the company’s stock.
Synnex Corporation (SNX) traded up $0.73 during trading on Friday, hitting $131.43. 127,178 shares of the stock traded hands, compared to its average volume of 185,177. The firm has a market capitalization of $5,250.00, a PE ratio of 15.23 and a beta of 1.08. Synnex Corporation has a 12 month low of $101.48 and a 12 month high of $137.80. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.61 and a quick ratio of 0.80.
Synnex (NYSE:SNX) last released its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.19. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4 billion. Synnex had a net margin of 1.89% and a return on equity of 16.58%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share. equities research analysts forecast that Synnex Corporation will post 8.78 EPS for the current fiscal year.
A number of research analysts recently issued reports on SNX shares. Zacks Investment Research upgraded shares of Synnex from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Thursday, September 21st. Pivotal Research started coverage on shares of Synnex in a report on Friday, October 6th. They set a “hold” rating and a $137.00 price objective for the company. ValuEngine cut shares of Synnex from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Needham & Company LLC restated a “buy” rating and set a $135.00 price objective on shares of Synnex in a report on Monday, September 18th. Finally, Stifel Nicolaus restated a “buy” rating and set a $132.00 price objective on shares of Synnex in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Synnex currently has a consensus rating of “Buy” and a consensus price target of $136.22.
In other news, Director Thomas S. Wurster sold 300 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $134.05, for a total value of $40,215.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Fred A. Breidenbach sold 1,321 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $127.92, for a total transaction of $168,982.32. Following the completion of the transaction, the director now owns 18,087 shares of the company’s stock, valued at approximately $2,313,689.04. The disclosure for this sale can be found here. Insiders sold 12,721 shares of company stock valued at $1,629,475 in the last quarter. Corporate insiders own 3.20% of the company’s stock.
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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