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.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Tuesday, January 22nd will be paid a $0.375 dividend. This is a positive change from SYNNEX’s previous quarterly dividend of $0.35. The ex-dividend date is Friday, January 18th. This represents a $1.50 annualized dividend and a dividend yield of 1.64%. SYNNEX’s dividend payout ratio is presently 12.86%.

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.

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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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