Delphi Management Inc. MA bought a new position in shares of SYNNEX Co. (NYSE:SNX) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,097 shares of the business services provider’s stock, valued at approximately $1,553,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SNX. Mesirow Financial Investment Management Equity Management acquired a new stake in SYNNEX during the second quarter worth approximately $10,711,000. BlackRock Inc. boosted its position in SYNNEX by 2.4% during the first quarter. BlackRock Inc. now owns 3,669,389 shares of the business services provider’s stock worth $434,458,000 after acquiring an additional 86,682 shares during the last quarter. Wells Fargo & Company MN boosted its position in SYNNEX by 72.6% during the first quarter. Wells Fargo & Company MN now owns 183,343 shares of the business services provider’s stock worth $21,708,000 after acquiring an additional 77,144 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new stake in SYNNEX during the first quarter worth approximately $3,792,000. Finally, Paradigm Capital Management Inc. NY boosted its position in SYNNEX by 58.2% during the second quarter. Paradigm Capital Management Inc. NY now owns 84,500 shares of the business services provider’s stock worth $8,155,000 after acquiring an additional 31,100 shares during the last quarter. Hedge funds and other institutional investors own 71.66% of the company’s stock.

Shares of SNX opened at $93.41 on Tuesday. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 10.80 and a beta of 0.86. SYNNEX Co. has a fifty-two week low of $93.30 and a fifty-two week high of $141.94. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48.

SYNNEX (NYSE:SNX) last announced its quarterly earnings results on Thursday, June 28th. The business services provider reported $2.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.08. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.66 billion. SYNNEX had a net margin of 1.49% and a return on equity of 16.69%. SYNNEX’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter last year, the business earned $2.08 EPS. sell-side analysts forecast that SYNNEX Co. will post 10.1 earnings per share for the current fiscal year.

SNX has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of SYNNEX from a “hold” rating to a “sell” rating in a report on Wednesday, May 30th. Cross Research lowered shares of SYNNEX from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Pivotal Research decreased their price target on shares of SYNNEX from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, June 29th. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 26th. Finally, Stifel Nicolaus decreased their price target on shares of SYNNEX from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, June 29th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $141.14.

In related news, CEO Dennis Polk sold 2,000 shares of SYNNEX stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $95.89, for a total transaction of $191,780.00. Following the transaction, the chief executive officer now owns 26,295 shares in the company, valued at approximately $2,521,427.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall Witt sold 600 shares of SYNNEX stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $96.47, for a total transaction of $57,882.00. Following the transaction, the chief financial officer now owns 18,410 shares in the company, valued at approximately $1,776,012.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,057 shares of company stock worth $775,749. 3.20% of the stock is owned by company insiders.

About SYNNEX

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.

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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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