Hancock Whitney Corp acquired a new position in shares of SYNNEX Co. (NYSE:SNX) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,442 shares of the business services provider’s stock, valued at approximately $2,118,000.
Several other large investors also recently modified their holdings of the stock. 9258 Wealth Management LLC bought a new stake in shares of SYNNEX during the 4th quarter worth about $281,000. Swiss National Bank boosted its holdings in shares of SYNNEX by 1.3% during the 4th quarter. Swiss National Bank now owns 83,085 shares of the business services provider’s stock worth $10,701,000 after buying an additional 1,100 shares during the period. American International Group Inc. boosted its holdings in shares of SYNNEX by 0.6% during the 4th quarter. American International Group Inc. now owns 78,863 shares of the business services provider’s stock worth $10,158,000 after buying an additional 473 shares during the period. Regentatlantic Capital LLC boosted its holdings in shares of SYNNEX by 225.5% during the 4th quarter. Regentatlantic Capital LLC now owns 15,249 shares of the business services provider’s stock worth $1,964,000 after buying an additional 10,564 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of SYNNEX by 9.0% during the 4th quarter. US Bancorp DE now owns 11,252 shares of the business services provider’s stock worth $1,449,000 after buying an additional 928 shares during the period. Institutional investors and hedge funds own 75.73% of the company’s stock.
In other news, insider Peter Larocque sold 17,330 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $150.89, for a total transaction of $2,614,923.70. Following the completion of the sale, the insider now owns 18,363 shares of the company’s stock, valued at approximately $2,770,793.07. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrea M. Zulberti sold 500 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $129.71, for a total transaction of $64,855.00. Following the sale, the director now directly owns 13,265 shares of the company’s stock, valued at approximately $1,720,603.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,396 shares of company stock valued at $6,223,258. 3.20% of the stock is currently owned by insiders.
SYNNEX (NYSE:SNX) last posted its quarterly earnings data on Thursday, January 9th. The business services provider reported $4.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.61 by $0.65. SYNNEX had a net margin of 2.11% and a return on equity of 18.84%. The firm had revenue of $6.58 billion during the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the previous year, the firm posted $3.65 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. Equities analysts expect that SYNNEX Co. will post 13.97 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, January 23rd. This is an increase from SYNNEX’s previous quarterly dividend of $0.38. SYNNEX’s dividend payout ratio is 12.07%.
SNX has been the subject of a number of recent research reports. ValuEngine raised shares of SYNNEX from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 4th. Raymond James boosted their price objective on shares of SYNNEX from $140.00 to $165.00 and gave the company a “strong-buy” rating in a report on Friday, January 10th. They noted that the move was a valuation call. Citigroup boosted their price objective on shares of SYNNEX from $140.00 to $175.00 and gave the company a “buy” rating in a report on Monday, January 13th. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “strong-buy” rating and set a $153.00 price objective for the company in a report on Monday, January 13th. Finally, Stifel Nicolaus boosted their price objective on shares of SYNNEX from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $155.43.
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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