Synnex Corporation (SNX) Holdings Raised by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its position in Synnex Corporation (NYSE:SNX) by 5.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 200,725 shares of the business services provider’s stock after purchasing an additional 9,833 shares during the period. Schwab Charles Investment Management Inc. owned about 0.50% of Synnex worth $25,394,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of SNX. Bank of Montreal Can bought a new position in shares of Synnex during the 2nd quarter valued at approximately $309,000. Janney Montgomery Scott LLC bought a new position in shares of Synnex during the 2nd quarter valued at approximately $412,000. Great West Life Assurance Co. Can grew its position in shares of Synnex by 0.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 17,844 shares of the business services provider’s stock valued at $2,138,000 after acquiring an additional 143 shares during the period. Sei Investments Co. grew its position in shares of Synnex by 8.0% during the 2nd quarter. Sei Investments Co. now owns 19,612 shares of the business services provider’s stock valued at $2,353,000 after acquiring an additional 1,461 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Synnex by 1.7% during the 2nd quarter. Arizona State Retirement System now owns 12,300 shares of the business services provider’s stock valued at $1,476,000 after acquiring an additional 200 shares during the period. 71.72% of the stock is owned by institutional investors and hedge funds.
In other Synnex news, COO Dennis Polk sold 1,500 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 22,468 shares in the company, valued at approximately $2,851,413.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kevin M. Murai sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $132.74, for a total transaction of $265,480.00. Following the completion of the sale, the chief executive officer now owns 144,125 shares in the company, valued at $19,131,152.50. The disclosure for this sale can be found here. Insiders have sold a total of 12,721 shares of company stock worth $1,667,635 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.
Shares of Synnex Corporation (SNX) traded up $0.94 during mid-day trading on Thursday, hitting $133.53. 108,400 shares of the company were exchanged, compared to its average volume of 201,339. The stock has a market cap of $5,298.98, a PE ratio of 15.36 and a beta of 1.08. The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 0.25. Synnex Corporation has a 12 month low of $101.48 and a 12 month high of $137.80.
Synnex (NYSE:SNX) last announced its quarterly earnings results on Monday, September 25th. The business services provider reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.19. The company had revenue of $4.28 billion for 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%. Synnex’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. sell-side analysts anticipate that Synnex Corporation will post 8.78 EPS for the current fiscal year.
A number of research analysts have recently weighed in on the stock. SunTrust Banks assumed coverage on shares of Synnex in a research report on Thursday, December 7th. They set a “buy” rating and a $145.00 target price for the company. Zacks Investment Research downgraded shares of Synnex from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Stifel Nicolaus reissued a “buy” rating and set a $132.00 target price on shares of Synnex in a research report on Tuesday, October 17th. Pivotal Research assumed coverage on shares of Synnex in a research report on Friday, October 6th. They set a “hold” rating and a $137.00 target price for the company. Finally, ValuEngine raised shares of Synnex from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $136.22.
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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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