SYNNEX Co. (NYSE:SNX)’s share price shot up 8.9% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $82.91 and last traded at $81.06, 626,858 shares traded hands during trading. An increase of 48% from the average session volume of 424,512 shares. The stock had previously closed at $74.41.

The business services provider reported $3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.08 by $0.18. SYNNEX had a return on equity of 18.84% and a net margin of 2.11%. The business had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the firm posted $2.84 EPS. The firm’s quarterly revenue was up .3% on a year-over-year basis.

Several research firms have weighed in on SNX. Barrington Research lowered their price target on SYNNEX from $150.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday. Zacks Investment Research upgraded SYNNEX from a “hold” rating to a “strong-buy” rating and set a $153.00 price target on the stock in a research report on Monday, January 13th. Loop Capital reduced their price target on SYNNEX from $175.00 to $112.00 and set a “buy” rating on the stock in a research report on Tuesday. Raymond James reduced their price target on SYNNEX from $165.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. Finally, ValuEngine lowered SYNNEX from a “sell” rating to a “strong sell” rating in a research report on Friday, March 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $132.29.

In other SYNNEX news, Director Andrea M. Zulberti sold 500 shares of SYNNEX stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $129.71, for a total transaction of $64,855.00. Following the completion of the transaction, the director now owns 13,265 shares in the company, valued at $1,720,603.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin M. Murai sold 2,500 shares of SYNNEX stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $105.09, for a total value of $262,725.00. Following the transaction, the director now owns 10,202 shares of the company’s stock, valued at approximately $1,072,128.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,452 shares of company stock worth $5,549,579. 2.80% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in SNX. Delta Asset Management LLC TN increased its holdings in shares of SYNNEX by 562.2% in the 4th quarter. Delta Asset Management LLC TN now owns 245 shares of the business services provider’s stock worth $32,000 after purchasing an additional 208 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in shares of SYNNEX in the 4th quarter worth $8,114,000. Assetmark Inc. bought a new stake in shares of SYNNEX in the 4th quarter worth $44,000. Fieldpoint Private Securities LLC increased its holdings in shares of SYNNEX by 52.4% in the 4th quarter. Fieldpoint Private Securities LLC now owns 480 shares of the business services provider’s stock worth $62,000 after purchasing an additional 165 shares in the last quarter. Finally, CENTRAL TRUST Co increased its holdings in shares of SYNNEX by 854.1% in the 4th quarter. CENTRAL TRUST Co now owns 582 shares of the business services provider’s stock worth $75,000 after purchasing an additional 521 shares in the last quarter. Institutional investors and hedge funds own 76.60% of the company’s stock.

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 cap of $3.83 billion, a P/E ratio of 7.61, a price-to-earnings-growth ratio of 0.51 and a beta of 1.05. The stock has a fifty day simple moving average of $119.47 and a 200 day simple moving average of $121.11.

SYNNEX Company Profile (NYSE:SNX)

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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