SYNNEX Co. (SNX) Director Sells $218,527.20 in Stock
SYNNEX Co. (NYSE:SNX) Director Andrea M. Zulberti sold 2,416 shares of the business’s stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $90.45, for a total transaction of $218,527.20. Following the sale, the director now owns 14,717 shares of the company’s stock, valued at approximately $1,331,152.65. The sale was disclosed in a legal filing with the SEC, which is available at this link.
NYSE SNX opened at $91.60 on Friday. SYNNEX Co. has a 1 year low of $71.82 and a 1 year high of $136.08. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.45 and a quick ratio of 0.94. The firm has a market capitalization of $4.64 billion, a PE ratio of 8.41 and a beta of 0.69.
SYNNEX (NYSE:SNX) last posted its earnings results on Thursday, January 10th. The business services provider reported $3.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.25 by $0.40. SYNNEX had a net margin of 1.50% and a return on equity of 17.54%. The firm had revenue of $5.62 billion during the quarter, compared to analyst estimates of $5.54 billion. During the same quarter in the prior year, the business posted $2.79 EPS. The business’s revenue was up 5.8% compared to the same quarter last year. Analysts forecast that SYNNEX Co. will post 11.81 earnings per share for the current fiscal year.
SNX has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of SYNNEX from $130.00 to $114.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. Needham & Company LLC upgraded shares of SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 price target for the company in a research note on Thursday, October 4th. SunTrust Banks decreased their price target on shares of SYNNEX to $100.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. Zacks Investment Research lowered shares of SYNNEX from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Finally, TheStreet lowered shares of SYNNEX from a “b-” rating to a “c+” rating in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $113.80.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of SYNNEX by 199.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,223 shares of the business services provider’s stock worth $104,000 after buying an additional 814 shares during the last quarter. Cornerstone Wealth Management LLC boosted its holdings in shares of SYNNEX by 96.1% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 25,581 shares of the business services provider’s stock worth $196,000 after buying an additional 12,539 shares during the last quarter. US Bancorp DE boosted its holdings in shares of SYNNEX by 66.6% in the 3rd quarter. US Bancorp DE now owns 2,456 shares of the business services provider’s stock worth $208,000 after buying an additional 982 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of SYNNEX in the 2nd quarter worth about $210,000. Finally, First Hawaiian Bank purchased a new position in shares of SYNNEX in the 3rd quarter worth about $221,000. Hedge funds and other institutional investors own 57.75% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This news story was first published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://theolympiareport.com/2019/01/20/synnex-co-snx-director-sells-218527-20-in-stock.html.
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.
Featured Story: What are the Benefits of Index Funds?
Receive News & Ratings for SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.