American International Group Inc. lifted its holdings in shares of Synnex Corporation (NYSE:SNX) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,102 shares of the business services provider’s stock after buying an additional 2,151 shares during the period. American International Group Inc. owned approximately 0.20% of Synnex worth $10,007,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Advisor Group Inc. raised its holdings in Synnex by 50.1% during the second quarter. Advisor Group Inc. now owns 929 shares of the business services provider’s stock worth $112,000 after purchasing an additional 310 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Synnex by 9.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the business services provider’s stock worth $135,000 after purchasing an additional 96 shares in the last quarter. Opus Capital Group LLC purchased a new position in Synnex during the second quarter worth about $219,000. Affinity Wealth Management raised its holdings in Synnex by 1.9% during the second quarter. Affinity Wealth Management now owns 1,869 shares of the business services provider’s stock worth $224,000 after purchasing an additional 34 shares in the last quarter. Finally, Shelton Capital Management purchased a new position in Synnex during the second quarter worth about $246,000. Institutional investors and hedge funds own 71.72% of the company’s stock.
In other news, Director Fred A. Breidenbach sold 1,321 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $127.92, for a total value of $168,982.32. Following the transaction, the director now owns 18,087 shares of the company’s stock, valued at approximately $2,313,689.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin M. Murai sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $130.37, for a total transaction of $260,740.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,721 shares of company stock worth $1,667,635. 3.20% of the stock is owned by company insiders.
Several research analysts recently issued reports on the stock. Loop Capital began coverage on shares of Synnex in a report on Thursday, August 24th. They set a “buy” rating and a $140.00 price target for the company. Pivotal Research began coverage on shares of Synnex in a report on Friday, October 6th. They issued a “hold” rating and a $137.00 target price for the company. ValuEngine raised shares of Synnex from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research cut shares of Synnex from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. Finally, Needham & Company LLC increased their price target on shares of Synnex from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $136.22.
Shares of Synnex Corporation (SNX) opened at $131.05 on Friday. Synnex Corporation has a 1 year low of $101.48 and a 1 year high of $137.80. The stock has a market cap of $5,298.98, a P/E ratio of 15.36 and a beta of 1.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 1.61.
Synnex (NYSE:SNX) last announced its earnings results on Monday, September 25th. The business services provider reported $2.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.19. The firm had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4 billion. Synnex had a net margin of 1.89% and a return on equity of 16.58%. Synnex’s revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.73 earnings per share. analysts forecast that Synnex Corporation will post 8.78 EPS for the current year.
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Synnex Company Profile
Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.
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