Insider Selling: SYNNEX Co. (SNX) SVP Sells 1,000 Shares of Stock

SYNNEX Co. (NYSE:SNX) SVP Simon Leung sold 1,000 shares of SYNNEX stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $100.16, for a total transaction of $100,160.00. Following the sale, the senior vice president now directly owns 23,043 shares of the company’s stock, valued at approximately $2,307,986.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of NYSE:SNX opened at $106.89 on Friday. SYNNEX Co. has a 12-month low of $71.82 and a 12-month high of $116.47. The company has a market cap of $5.47 billion, a price-to-earnings ratio of 9.82, a price-to-earnings-growth ratio of 0.75 and a beta of 0.73. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.81.

SYNNEX (NYSE:SNX) last announced its earnings results on Wednesday, March 27th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.75 by $0.09. SYNNEX had a net margin of 1.75% and a return on equity of 17.78%. The firm had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.29 billion. During the same quarter in the prior year, the business posted $2.14 EPS. The business’s revenue was up 16.8% compared to the same quarter last year. Equities analysts expect that SYNNEX Co. will post 11.89 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Thursday, April 11th. SYNNEX’s dividend payout ratio (DPR) is presently 13.77%.

SNX has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “buy” rating and set a $102.00 target price on the stock in a report on Tuesday, March 26th. ValuEngine raised shares of SYNNEX from a “sell” rating to a “hold” rating in a report on Monday, April 15th. TheStreet cut shares of SYNNEX from a “b” rating to a “c+” rating in a report on Tuesday, April 2nd. Citigroup set a $140.00 price target on shares of SYNNEX and gave the company a “buy” rating in a research note on Friday, April 12th. Finally, Barrington Research began coverage on shares of SYNNEX in a research note on Thursday, April 4th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $123.00.

Several institutional investors have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its holdings in shares of SYNNEX by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the business services provider’s stock worth $1,059,000 after acquiring an additional 100 shares during the period. Huntington National Bank lifted its holdings in shares of SYNNEX by 31.7% during the 1st quarter. Huntington National Bank now owns 914 shares of the business services provider’s stock worth $87,000 after acquiring an additional 220 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of SYNNEX by 103.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 498 shares of the business services provider’s stock worth $40,000 after acquiring an additional 253 shares during the period. Private Capital Group LLC bought a new position in SYNNEX in the 1st quarter valued at approximately $25,000. Finally, Retirement Systems of Alabama lifted its stake in SYNNEX by 0.5% in the 1st quarter. Retirement Systems of Alabama now owns 54,002 shares of the business services provider’s stock valued at $5,151,000 after purchasing an additional 273 shares during the last quarter. 77.70% of the stock is owned by institutional investors.

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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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Insider Buying and Selling by Quarter for SYNNEX (NYSE:SNX)

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