Barclays PLC cut its position in shares of SYNNEX Co. (NYSE:SNX) by 83.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 23,230 shares of the business services provider’s stock after selling 116,076 shares during the period. Barclays PLC’s holdings in SYNNEX were worth $2,622,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNX. Amundi Pioneer Asset Management Inc. increased its holdings in shares of SYNNEX by 6.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 48,980 shares of the business services provider’s stock valued at $4,672,000 after acquiring an additional 2,881 shares in the last quarter. Arizona State Retirement System raised its position in SYNNEX by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 30,110 shares of the business services provider’s stock worth $2,963,000 after buying an additional 323 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in SYNNEX by 14.2% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,487 shares of the business services provider’s stock valued at $244,000 after acquiring an additional 309 shares during the period. SG Americas Securities LLC boosted its holdings in shares of SYNNEX by 260.4% during the 2nd quarter. SG Americas Securities LLC now owns 20,060 shares of the business services provider’s stock valued at $1,974,000 after acquiring an additional 14,494 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of SYNNEX by 38.3% in the second quarter. First Trust Advisors LP now owns 52,613 shares of the business services provider’s stock worth $5,177,000 after acquiring an additional 14,568 shares during the period. Institutional investors own 75.68% of the company’s stock.
Shares of NYSE:SNX opened at $121.39 on Wednesday. The firm’s 50 day moving average price is $119.37 and its 200-day moving average price is $101.14. SYNNEX Co. has a twelve month low of $72.76 and a twelve month high of $124.72. The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $6.27 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 0.94 and a beta of 1.01.
Several research analysts have recently weighed in on SNX shares. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a report on Tuesday, October 1st. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Bank of America initiated coverage on SYNNEX in a report on Friday, September 6th. They set a “buy” rating and a $120.00 price target on the stock. TheStreet raised SYNNEX from a “c+” rating to a “b-” rating in a report on Friday, September 27th. Finally, Barrington Research restated a “buy” rating and issued a $118.00 price target on shares of SYNNEX in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $128.80.
In related news, CFO Marshall Witt sold 285 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $113.98, for a total value of $32,484.30. Following the transaction, the chief financial officer now directly owns 14,438 shares of the company’s stock, valued at approximately $1,645,643.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andrea M. Zulberti sold 500 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $107.83, for a total value of $53,915.00. Following the completion of the transaction, the director now directly owns 13,265 shares in the company, valued at $1,430,364.95. The disclosure for this sale can be found here. Insiders have sold a total of 25,927 shares of company stock worth $2,978,801 in the last quarter. Corporate insiders own 3.20% of the company’s stock.
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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