Chicago Equity Partners LLC Takes Position in SYNNEX Co. (NYSE:SNX)

Chicago Equity Partners LLC bought a new stake in shares of SYNNEX Co. (NYSE:SNX) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,240 shares of the business services provider’s stock, valued at approximately $1,528,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in SYNNEX in the 3rd quarter worth approximately $4,048,000. Quantbot Technologies LP bought a new stake in SYNNEX in the 3rd quarter worth approximately $1,212,000. Legal & General Group Plc lifted its position in SYNNEX by 5.8% in the 3rd quarter. Legal & General Group Plc now owns 41,308 shares of the business services provider’s stock worth $5,229,000 after buying an additional 2,268 shares during the last quarter. SG Americas Securities LLC lifted its position in SYNNEX by 51.6% in the 4th quarter. SG Americas Securities LLC now owns 22,444 shares of the business services provider’s stock worth $3,051,000 after buying an additional 7,637 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in SYNNEX by 8.4% in the second quarter. UBS Asset Management Americas Inc. now owns 17,011 shares of the business services provider’s stock valued at $2,041,000 after purchasing an additional 1,318 shares during the last quarter. 71.93% of the stock is owned by institutional investors.

Several analysts have weighed in on the company. Pivotal Research reiterated a “hold” rating and issued a $150.00 price objective (up previously from $138.00) on shares of SYNNEX in a research report on Wednesday, January 10th. ValuEngine downgraded SYNNEX from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Loop Capital upped their target price on SYNNEX from $1.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC upped their target price on SYNNEX from $145.00 to $151.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, Zacks Investment Research downgraded SYNNEX from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $145.38.

SYNNEX Co. (NYSE SNX) opened at $123.80 on Friday. The stock has a market capitalization of $4,854.12, a price-to-earnings ratio of 16.51 and a beta of 0.93. The company has a current ratio of 1.42, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. SYNNEX Co. has a 1-year low of $101.48 and a 1-year high of $141.94.

SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, January 9th. The business services provider reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.10. SYNNEX had a return on equity of 16.43% and a net margin of 1.77%. The company had revenue of $5.31 billion for the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter in the prior year, the company earned $2.57 earnings per share. SYNNEX’s revenue was up 36.7% on a year-over-year basis. analysts predict that SYNNEX Co. will post 10.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Friday, January 19th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, January 18th. This represents a $1.40 annualized dividend and a dividend yield of 1.13%. This is an increase from SYNNEX’s previous quarterly dividend of $0.30. SYNNEX’s dividend payout ratio (DPR) is 18.67%.

In related news, major shareholder Star Developments Ltd Silver sold 451,000 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $130.30, for a total transaction of $58,765,300.00. Following the completion of the sale, the insider now owns 4,997,878 shares in the company, valued at $651,223,503.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas S. Wurster sold 300 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $134.05, for a total value of $40,215.00. The disclosure for this sale can be found here. Insiders sold 1,268,900 shares of company stock worth $165,389,136 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

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SYNNEX 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.

Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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