Synnex Corporation (NYSE:SNX) shares were down 6.3% on Thursday . The company traded as low as $130.84 and last traded at $131.79. Approximately 517,200 shares traded hands during trading, an increase of 82% from the average daily volume of 284,214 shares. The stock had previously closed at $140.70.

A number of research analysts have weighed in on SNX shares. Zacks Investment Research lowered Synnex from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Pivotal Research started coverage on Synnex in a report on Friday, October 6th. They set a “hold” rating and a $137.00 target price for the company. SunTrust Banks started coverage on Synnex in a report on Thursday, December 7th. They set a “buy” rating and a $145.00 target price for the company. Needham & Company LLC lifted their target price on Synnex from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, September 26th. Finally, ValuEngine raised Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $141.67.

The company has a quick ratio of 0.80, a current ratio of 1.61 and a debt-to-equity ratio of 0.25. The firm has a market cap of $5,270.00, a price-to-earnings ratio of 18.57 and a beta of 1.08.

Synnex (NYSE:SNX) last issued its quarterly earnings data on Tuesday, January 9th. The business services provider reported $2.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.10. Synnex had a return on equity of 16.58% and a net margin of 1.89%. The company had revenue of $5.31 billion during the quarter, compared to analyst estimates of $4.85 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. Synnex’s revenue was up 36.7% on a year-over-year basis. sell-side analysts predict that Synnex Corporation will post 8.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 19th will be issued a dividend of $0.35 per share. This is a positive change from Synnex’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, January 18th. This represents a $1.40 annualized dividend and a dividend yield of 1.02%. Synnex’s payout ratio is presently 16.28%.

In other news, CEO Kevin M. Murai sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $128.81, for a total transaction of $257,620.00. Following the completion of the transaction, the chief executive officer now owns 144,125 shares of the company’s stock, valued at $18,564,741.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 300 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $135.52, for a total value of $40,656.00. Following the transaction, the chief financial officer now directly owns 21,300 shares of the company’s stock, valued at approximately $2,886,576. The disclosure for this sale can be found here. Insiders have sold 7,900 shares of company stock valued at $1,050,392 in the last three months. 3.20% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio bought a new stake in Synnex in the 3rd quarter worth approximately $889,000. California Public Employees Retirement System lifted its position in Synnex by 5.7% in the 3rd quarter. California Public Employees Retirement System now owns 58,110 shares of the business services provider’s stock worth $7,351,000 after buying an additional 3,110 shares during the last quarter. Affinity Wealth Management lifted its position in Synnex by 72.4% in the 3rd quarter. Affinity Wealth Management now owns 3,222 shares of the business services provider’s stock worth $408,000 after buying an additional 1,353 shares during the last quarter. Jane Street Group LLC bought a new stake in Synnex in the 3rd quarter worth approximately $484,000. Finally, Invictus RG lifted its position in Synnex by 30.6% in the 3rd quarter. Invictus RG now owns 2,994 shares of the business services provider’s stock worth $379,000 after buying an additional 701 shares during the last quarter. Institutional investors own 71.68% of the company’s stock.

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Synnex 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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