Teachers Retirement System of The State of Kentucky reduced its position in shares of SYNNEX Co. (NYSE:SNX) by 11.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,898 shares of the business services provider’s stock after selling 800 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in SYNNEX were worth $500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of SYNNEX by 0.4% during the 2nd quarter. BlackRock Inc. now owns 3,684,947 shares of the business services provider’s stock valued at $355,633,000 after acquiring an additional 15,558 shares in the last quarter. Northern Trust Corp raised its position in shares of SYNNEX by 6.1% during the 2nd quarter. Northern Trust Corp now owns 906,408 shares of the business services provider’s stock valued at $87,477,000 after acquiring an additional 52,225 shares in the last quarter. Boston Partners raised its position in shares of SYNNEX by 2.1% during the 2nd quarter. Boston Partners now owns 815,045 shares of the business services provider’s stock valued at $78,660,000 after acquiring an additional 16,895 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of SYNNEX by 2.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 391,245 shares of the business services provider’s stock valued at $37,760,000 after acquiring an additional 8,603 shares in the last quarter. Finally, Prudential Financial Inc. raised its position in shares of SYNNEX by 8.2% during the 3rd quarter. Prudential Financial Inc. now owns 378,225 shares of the business services provider’s stock valued at $32,035,000 after acquiring an additional 28,685 shares in the last quarter. 57.76% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Marshall Witt sold 600 shares of the stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $82.13, for a total value of $49,278.00. Following the completion of the transaction, the chief financial officer now owns 18,274 shares of the company’s stock, valued at $1,500,843.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dennis Polk sold 2,000 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $84.81, for a total value of $169,620.00. Following the completion of the transaction, the chief executive officer now directly owns 26,494 shares of the company’s stock, valued at approximately $2,246,956.14. The disclosure for this sale can be found here. In the last three months, insiders bought 370,331 shares of company stock valued at $29,495,099 and sold 6,609 shares valued at $534,250. Corporate insiders own 3.20% of the company’s stock.

SNX has been the topic of several analyst reports. SunTrust Banks dropped their target price on SYNNEX to $100.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. Stifel Nicolaus dropped their target price on SYNNEX from $130.00 to $114.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. Zacks Investment Research raised SYNNEX from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research report on Tuesday, October 9th. TheStreet lowered SYNNEX from a “b-” rating to a “c+” rating in a research report on Friday, October 12th. Finally, Needham & Company LLC raised SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 target price on the stock in a research report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. SYNNEX has a consensus rating of “Buy” and a consensus target price of $127.00.

Shares of NYSE SNX opened at $75.59 on Friday. SYNNEX Co. has a 1-year low of $71.82 and a 1-year high of $141.94. The company has a current ratio of 1.51, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 7.82 and a beta of 0.82.

SYNNEX (NYSE:SNX) last issued its earnings results on Wednesday, October 3rd. The business services provider reported $2.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.46 by $0.11. SYNNEX had a return on equity of 17.16% and a net margin of 1.41%. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same period last year, the company earned $2.16 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Sell-side analysts anticipate that SYNNEX Co. will post 10.12 EPS for the current fiscal year.

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SYNNEX Profile

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

Further Reading: How to use beta for portfolio diversification

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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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