Delphi Management Inc. MA cut its holdings in SYNNEX Co. (NYSE:SNX) by 11.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,025 shares of the business services provider’s stock after selling 2,083 shares during the quarter. SYNNEX comprises approximately 1.4% of Delphi Management Inc. MA’s holdings, making the stock its 21st largest position. Delphi Management Inc. MA’s holdings in SYNNEX were worth $1,577,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of SYNNEX by 17.8% in the first quarter. FMR LLC now owns 7,661,397 shares of the business services provider’s stock worth $730,821,000 after buying an additional 1,158,462 shares during the last quarter. Northern Trust Corp lifted its stake in shares of SYNNEX by 0.9% in the first quarter. Northern Trust Corp now owns 1,180,762 shares of the business services provider’s stock worth $112,634,000 after buying an additional 10,106 shares during the last quarter. Prudential Financial Inc. lifted its stake in shares of SYNNEX by 20.6% in the second quarter. Prudential Financial Inc. now owns 742,424 shares of the business services provider’s stock worth $73,055,000 after buying an additional 126,922 shares during the last quarter. LSV Asset Management lifted its stake in shares of SYNNEX by 2.0% in the second quarter. LSV Asset Management now owns 641,526 shares of the business services provider’s stock worth $63,126,000 after buying an additional 12,747 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of SYNNEX by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 548,035 shares of the business services provider’s stock worth $44,302,000 after buying an additional 195,366 shares during the last quarter. Hedge funds and other institutional investors own 76.70% of the company’s stock.
In related news, CFO Marshall Witt sold 285 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $98.50, for a total transaction of $28,072.50. Following the transaction, the chief financial officer now owns 15,008 shares of the company’s stock, valued at $1,478,288. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Simon Leung sold 1,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $105.66, for a total transaction of $105,660.00. Following the transaction, the senior vice president now directly owns 17,357 shares in the company, valued at approximately $1,833,940.62. The disclosure for this sale can be found here. Insiders have sold 3,436 shares of company stock worth $348,911 in the last ninety days. 3.20% of the stock is currently owned by insiders.
SNX has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of SYNNEX from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. ValuEngine upgraded shares of SYNNEX from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 25th. Barrington Research restated a “buy” rating and issued a $118.00 price objective on shares of SYNNEX in a research note on Friday, September 20th. Finally, Bank of America initiated coverage on shares of SYNNEX in a research note on Friday, September 6th. They issued a “buy” rating and a $120.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $122.25.
SNX stock traded up $0.38 on Monday, reaching $112.90. 206,818 shares of the company were exchanged, compared to its average volume of 429,106. SYNNEX Co. has a 12 month low of $71.82 and a 12 month high of $114.91. The stock’s fifty day moving average price is $89.71 and its 200 day moving average price is $95.80. The firm has a market capitalization of $5.82 billion, a PE ratio of 10.37, a PEG ratio of 0.87 and a beta of 0.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.57 and a quick ratio of 0.99.
SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, September 24th. The business services provider reported $3.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.86 by $0.44. SYNNEX had a net margin of 1.92% and a return on equity of 17.96%. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $5.69 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. SYNNEX’s revenue was up 28.7% compared to the same quarter last year. As a group, research analysts expect that SYNNEX Co. will post 12.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Thursday, October 10th. SYNNEX’s dividend payout ratio (DPR) is currently 13.77%.
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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