Several other analysts have also recently issued reports on the stock. Raymond James set a $140.00 target price on shares of SYNNEX and gave the stock a “buy” rating in a research note on Thursday, March 28th. Zacks Investment Research upgraded shares of SYNNEX from a “hold” rating to a “buy” rating and set a $102.00 price objective on the stock in a research report on Tuesday, March 26th. TheStreet upgraded shares of SYNNEX from a “c+” rating to a “b-” rating in a research report on Friday, January 25th. Citigroup upgraded shares of SYNNEX from a “neutral” rating to a “buy” rating and set a $97.02 price objective on the stock in a research report on Monday, January 28th. Finally, Cross Research upgraded shares of SYNNEX from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $123.00.
SNX traded up $0.07 on Monday, hitting $107.72. The company’s stock had a trading volume of 1,825 shares, compared to its average volume of 389,099. SYNNEX has a 12 month low of $71.82 and a 12 month high of $116.47. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.81. The company has a market cap of $5.51 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.75 and a beta of 0.73.
In other news, Director Kevin M. Murai sold 5,000 shares of SYNNEX stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $103.51, for a total transaction of $517,550.00. Following the sale, the director now owns 19,362 shares of the company’s stock, valued at approximately $2,004,160.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Witt sold 600 shares of SYNNEX stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $96.41, for a total transaction of $57,846.00. Following the sale, the chief financial officer now directly owns 18,293 shares in the company, valued at approximately $1,763,628.13. The disclosure for this sale can be found here. Insiders have sold a total of 18,553 shares of company stock worth $1,939,328 in the last ninety days. Insiders own 3.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. JOYN Advisors Inc. raised its holdings in SYNNEX by 375.0% in the fourth quarter. JOYN Advisors Inc. now owns 380 shares of the business services provider’s stock worth $31,000 after buying an additional 300 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in SYNNEX by 103.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 498 shares of the business services provider’s stock worth $40,000 after buying an additional 253 shares during the last quarter. Sage Capital Advisors llc purchased a new position in SYNNEX in the fourth quarter worth about $40,000. Investors Research Corp purchased a new position in SYNNEX in the first quarter worth about $68,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in SYNNEX in the fourth quarter worth about $70,000. 77.68% of the stock is currently owned by hedge funds and other institutional investors.
SYNNEX Company Profile
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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