Rhumbline Advisers lifted its holdings in shares of SYNNEX Co. (NYSE:SNX) by 8.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,569 shares of the business services provider’s stock after purchasing an additional 8,949 shares during the quarter. Rhumbline Advisers owned about 0.22% of SYNNEX worth $8,229,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. THB Asset Management raised its holdings in SYNNEX by 13.5% in the first quarter. THB Asset Management now owns 5,456 shares of the business services provider’s stock valued at $398,000 after acquiring an additional 650 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in shares of SYNNEX by 120.1% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 248,898 shares of the business services provider’s stock worth $18,194,000 after purchasing an additional 135,831 shares during the period. Pearl River Capital LLC acquired a new position in SYNNEX during the 1st quarter worth approximately $172,000. Alps Advisors Inc. acquired a new position in shares of SYNNEX in the 1st quarter valued at approximately $219,000. Finally, Stone Ridge Asset Management LLC acquired a new position in shares of SYNNEX in the 1st quarter valued at approximately $751,000. 76.27% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on the company. Zacks Investment Research raised SYNNEX from a “sell” rating to a “hold” rating and set a $84.00 target price for the company in a report on Tuesday. Cross Research cut SYNNEX from a “buy” rating to a “hold” rating in a report on Wednesday, March 25th. TheStreet cut SYNNEX from a “b-” rating to a “c” rating in a research note on Monday, March 30th. Barrington Research reduced their target price on SYNNEX from $150.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Finally, Loop Capital lowered their target price on SYNNEX from $175.00 to $112.00 and set a “buy” rating on the stock in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $122.43.

In other SYNNEX news, Director Kevin M. Murai sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $105.09, for a total transaction of $262,725.00. Following the sale, the director now owns 10,202 shares of the company’s stock, valued at approximately $1,072,128.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Simon Leung sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $100.21, for a total transaction of $200,420.00. Following the sale, the senior vice president now directly owns 16,381 shares in the company, valued at approximately $1,641,540.01. The disclosure for this sale can be found here. In the last three months, insiders have acquired 61,000 shares of company stock worth $4,370,700 and have sold 5,436 shares worth $533,688. Company insiders own 2.80% of the company’s stock.

Shares of NYSE SNX opened at $100.59 on Friday. The company has a market cap of $5.28 billion, a PE ratio of 9.67, a P/E/G ratio of 2.26 and a beta of 1.48. The firm’s 50 day moving average price is $82.93 and its 200-day moving average price is $113.79. SYNNEX Co. has a 52-week low of $52.06 and a 52-week high of $153.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.00 and a current ratio of 1.64.

SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, March 24th. The business services provider reported $3.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.08 by $0.18. SYNNEX had a net margin of 2.26% and a return on equity of 19.04%. The business had revenue of $5.26 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $2.84 earnings per share. SYNNEX’s quarterly revenue was up .3% compared to the same quarter last year. On average, analysts forecast that SYNNEX Co. will post 4.85 earnings per share for the current fiscal year.

SYNNEX Company Profile

SYNNEX Corporation provides business process services in the Americas, Asia-Pacific, Europe and Africa. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center servers and storage solutions; system components; software; networking, communications, and security equipment; consumer electronics; and complementary products.

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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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