Comerica Bank cut its holdings in shares of Synnex (NYSE:SNX) by 40.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,352 shares of the business services provider’s stock after selling 18,847 shares during the period. Comerica Bank owned approximately 0.07% of Synnex worth $2,840,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Dupont Capital Management Corp boosted its position in shares of Synnex by 9.2% during the first quarter. Dupont Capital Management Corp now owns 32,438 shares of the business services provider’s stock valued at $3,841,000 after buying an additional 2,738 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Synnex by 72.6% during the first quarter. Wells Fargo & Company MN now owns 183,343 shares of the business services provider’s stock valued at $21,708,000 after buying an additional 77,144 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of Synnex during the fourth quarter valued at $348,000. MetLife Investment Advisors LLC purchased a new stake in shares of Synnex during the fourth quarter valued at $4,326,000. Finally, Jane Street Group LLC boosted its position in shares of Synnex by 48.3% during the fourth quarter. Jane Street Group LLC now owns 5,677 shares of the business services provider’s stock valued at $772,000 after buying an additional 1,850 shares during the last quarter. 72.59% of the stock is currently owned by institutional investors.
In other news, SVP Simon Leung sold 1,000 shares of Synnex stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $122.99, for a total transaction of $122,990.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Miau sold 500 shares of Synnex stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $97.95, for a total value of $48,975.00. Following the transaction, the director now directly owns 375,357 shares in the company, valued at $36,766,218.15. The disclosure for this sale can be found here. Insiders sold 19,500 shares of company stock worth $2,065,238 over the last three months. Insiders own 3.20% of the company’s stock.
Shares of Synnex opened at $109.90 on Tuesday, MarketBeat reports. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 12.40 and a beta of 1.01. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.48. Synnex has a 52-week low of $93.87 and a 52-week high of $141.94.
Synnex (NYSE:SNX) last announced its earnings results on Thursday, March 29th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.03. The business had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.47 billion. Synnex had a return on equity of 16.52% and a net margin of 1.46%. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period last year, the firm posted $1.82 earnings per share. equities analysts anticipate that Synnex will post 10.21 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, April 27th. Shareholders of record on Friday, April 13th were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, April 12th. This represents a $1.40 annualized dividend and a yield of 1.27%. Synnex’s payout ratio is 15.80%.
SNX has been the topic of several recent analyst reports. Pivotal Research raised Synnex from a “hold” rating to a “buy” rating and set a $150.00 price objective on the stock in a research report on Wednesday, January 31st. ValuEngine cut Synnex from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research cut Synnex from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Stifel Nicolaus reaffirmed a “hold” rating and set a $140.00 price objective (down from $152.00) on shares of Synnex in a research report on Monday, April 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $135.00 target price (down from $151.00) on shares of Synnex in a research report on Monday, April 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $143.29.
SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.
Want to see what other hedge funds are holding SNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Synnex (NYSE:SNX).
Receive News & Ratings for Synnex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Synnex and related companies with MarketBeat.com's FREE daily email newsletter.