Synnex Corporation (SNX) COO Dennis Polk Sells 1,500 Shares
Synnex Corporation (NYSE:SNX) COO Dennis Polk sold 1,500 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $126.91, for a total value of $190,365.00. Following the completion of the sale, the chief operating officer now owns 22,468 shares in the company, valued at $2,851,413.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Dennis Polk also recently made the following trade(s):
- On Friday, September 1st, Dennis Polk sold 1,500 shares of Synnex Corporation stock. The shares were sold at an average price of $115.06, for a total transaction of $172,590.00.
- On Tuesday, August 1st, Dennis Polk sold 3,416 shares of Synnex Corporation stock. The stock was sold at an average price of $119.47, for a total transaction of $408,109.52.
Shares of Synnex Corporation (SNX) opened at 128.67 on Wednesday. The firm has a market capitalization of $5.14 billion, a P/E ratio of 18.47 and a beta of 1.08. The company’s 50 day moving average price is $117.32 and its 200 day moving average price is $115.15. Synnex Corporation has a one year low of $100.06 and a one year high of $131.35.
Synnex Corporation (NYSE:SNX) last announced its earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.19. The firm had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4 billion. Synnex Corporation had a return on equity of 16.58% and a net margin of 1.89%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS. On average, analysts expect that Synnex Corporation will post $8.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, October 12th. This is a boost from Synnex Corporation’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 0.93%. Synnex Corporation’s dividend payout ratio (DPR) is 13.57%.
Synnex Corporation declared that its board has initiated 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 repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of large investors have recently added to or reduced their stakes in SNX. Advisor Group Inc. raised its position in Synnex Corporation by 50.1% in the second quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock worth $112,000 after acquiring an additional 310 shares in the last quarter. US Bancorp DE lifted its stake in Synnex Corporation by 34.3% during the first quarter. US Bancorp DE now owns 1,112 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 284 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Synnex Corporation 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 last quarter. PNC Financial Services Group Inc. lifted its stake in Synnex Corporation by 8.8% during 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 purchasing an additional 106 shares during the last quarter. Finally, Invictus RG acquired a new stake in Synnex Corporation during the first quarter valued at approximately $196,000. 71.26% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on SNX. ValuEngine raised Synnex Corporation from a “hold” rating to a “buy” rating in a report on Monday. Citigroup Inc. upped their price objective on Synnex Corporation from $122.00 to $130.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 26th. Needham & Company LLC increased their price objective on Synnex Corporation from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. BidaskClub downgraded Synnex Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Loop Capital raised their target price on Synnex Corporation from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $134.86.
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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