Insider Selling: SYNNEX Co. (NYSE:SNX) Director Sells 2,500 Shares of Stock

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SYNNEX Co. (NYSE:SNX) Director Kevin M. Murai sold 2,500 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $143.10, for a total value of $357,750.00. Following the transaction, the director now directly owns 10,363 shares in the company, valued at approximately $1,482,945.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

SYNNEX stock opened at $142.42 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.06 and a current ratio of 1.62. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 0.97 and a beta of 1.01. SYNNEX Co. has a fifty-two week low of $78.55 and a fifty-two week high of $153.07. The stock’s fifty day moving average is $139.10 and its two-hundred day moving average is $115.85.

SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, January 9th. The business services provider reported $4.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.61 by $0.65. The company had revenue of $6.58 billion for the quarter, compared to analyst estimates of $5.99 billion. SYNNEX had a return on equity of 18.84% and a net margin of 2.11%. SYNNEX’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.65 earnings per share. As a group, sell-side analysts forecast that SYNNEX Co. will post 13.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were issued a $0.40 dividend. This is a positive change from SYNNEX’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, January 23rd. This represents a $1.60 annualized dividend and a yield of 1.12%. SYNNEX’s dividend payout ratio is 12.07%.

A number of research analysts recently weighed in on SNX shares. Loop Capital reaffirmed a “buy” rating and set a $175.00 price objective on shares of SYNNEX in a report on Friday, January 10th. Stifel Nicolaus upped their price objective on SYNNEX from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, January 10th. ValuEngine raised SYNNEX from a “strong sell” rating to a “sell” rating in a report on Tuesday, February 4th. Raymond James upped their price objective on SYNNEX from $140.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Friday, January 10th. They noted that the move was a valuation call. Finally, Citigroup upped their price objective on SYNNEX from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, January 13th. One equities research 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 company’s stock. SYNNEX currently has an average rating of “Buy” and an average target price of $155.43.

A number of institutional investors have recently bought and sold shares of SNX. Amundi Pioneer Asset Management Inc. raised its position in SYNNEX by 6.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 48,980 shares of the business services provider’s stock worth $4,672,000 after buying an additional 2,881 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in SYNNEX during the 3rd quarter worth approximately $583,000. Campbell & CO Investment Adviser LLC raised its position in SYNNEX by 13.9% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 3,417 shares of the business services provider’s stock worth $386,000 after buying an additional 417 shares during the last quarter. Envestnet Asset Management Inc. raised its position in SYNNEX by 9.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 47,916 shares of the business services provider’s stock worth $5,410,000 after buying an additional 4,271 shares during the last quarter. Finally, Oakbrook Investments LLC purchased a new position in SYNNEX during the 3rd quarter worth approximately $418,000. 75.73% of the stock is currently owned by institutional investors.

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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Insider Buying and Selling by Quarter for SYNNEX (NYSE:SNX)

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