Synnex Corporation (SNX) Shares Bought by Invictus RG
Invictus RG increased its holdings in Synnex Corporation (NYSE:SNX) by 30.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,994 shares of the business services provider’s stock after acquiring an additional 701 shares during the period. Invictus RG’s holdings in Synnex were worth $379,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Advisor Group Inc. raised its stake in shares of Synnex by 50.1% during the 2nd quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock worth $112,000 after purchasing an additional 310 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Synnex by 9.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock worth $135,000 after purchasing an additional 96 shares in the last quarter. Opus Capital Group LLC purchased a new stake in shares of Synnex during the 2nd quarter worth about $219,000. Affinity Wealth Management raised its stake in shares of Synnex by 1.9% during the 2nd quarter. Affinity Wealth Management now owns 1,869 shares of the business services provider’s stock worth $224,000 after purchasing an additional 34 shares in the last quarter. Finally, Shelton Capital Management purchased a new stake in shares of Synnex during the 2nd quarter worth about $246,000. 71.72% of the stock is owned by hedge funds and other institutional investors.
In other Synnex news, COO Dennis Polk sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $135.39, for a total value of $203,085.00. Following the sale, the chief operating officer now owns 20,374 shares of the company’s stock, valued at approximately $2,758,435.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas S. Wurster sold 300 shares of Synnex stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $134.05, for a total value of $40,215.00. The disclosure for this sale can be found here. Insiders sold a total of 12,721 shares of company stock worth $1,629,475 in the last ninety days. Insiders own 3.20% of the company’s stock.
A number of research analysts have recently commented on the company. Stifel Nicolaus reissued a “buy” rating and set a $132.00 price objective on shares of Synnex in a report on Tuesday, October 17th. Zacks Investment Research lowered Synnex from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Pivotal Research assumed coverage on Synnex in a report on Friday, October 6th. They set a “hold” rating and a $137.00 price objective on the stock. ValuEngine raised Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub lowered Synnex from a “hold” rating to a “sell” rating in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Synnex currently has a consensus rating of “Buy” and a consensus price target of $135.13.
Shares of Synnex Corporation (SNX) traded up $0.58 during midday trading on Wednesday, hitting $132.67. The stock had a trading volume of 121,300 shares, compared to its average volume of 202,254. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 1.61. The firm has a market cap of $5,279.00, a price-to-earnings ratio of 15.31 and a beta of 1.08. Synnex Corporation has a fifty-two week low of $101.48 and a fifty-two week high of $137.80.
Synnex (NYSE:SNX) last issued its quarterly earnings data on Monday, September 25th. The business services provider reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.19. The business had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4 billion. Synnex had a return on equity of 16.58% and a net margin of 1.89%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 EPS. analysts predict that Synnex Corporation will post 8.79 earnings per share for the current year.
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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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