Integre Asset Management LLC lifted its stake in SYNNEX Co. (NYSE:SNX) by 54.5% during the first quarter, Holdings Channel reports. The institutional investor owned 1,700 shares of the business services provider’s stock after acquiring an additional 600 shares during the quarter. Integre Asset Management LLC’s holdings in SYNNEX were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of SNX. Boston Partners boosted its stake in shares of SYNNEX by 172.6% in the first quarter. Boston Partners now owns 798,150 shares of the business services provider’s stock worth $94,501,000 after buying an additional 505,382 shares during the last quarter. BlackRock Inc. boosted its stake in shares of SYNNEX by 8.1% in the fourth quarter. BlackRock Inc. now owns 3,582,707 shares of the business services provider’s stock worth $487,070,000 after buying an additional 269,430 shares during the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of SYNNEX by 143.2% in the fourth quarter. Mawer Investment Management Ltd. now owns 271,600 shares of the business services provider’s stock worth $36,924,000 after buying an additional 159,900 shares during the last quarter. Shellback Capital LP boosted its stake in shares of SYNNEX by 457.1% in the fourth quarter. Shellback Capital LP now owns 140,401 shares of the business services provider’s stock worth $19,088,000 after buying an additional 115,201 shares during the last quarter. Finally, Capital Analysts LLC boosted its stake in shares of SYNNEX by 1,069.4% in the fourth quarter. Capital Analysts LLC now owns 97,917 shares of the business services provider’s stock worth $8,125,000 after buying an additional 89,544 shares during the last quarter. Hedge funds and other institutional investors own 72.53% of the company’s stock.
In other SYNNEX news, CFO Marshall Witt sold 300 shares of the stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $107.66, for a total transaction of $32,298.00. Following the transaction, the chief financial officer now owns 19,310 shares in the company, valued at $2,078,914.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Simon Leung sold 1,000 shares of the stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $100.64, for a total value of $100,640.00. The disclosure for this sale can be found here. Insiders have sold 19,500 shares of company stock worth $2,014,020 in the last quarter. 3.20% of the stock is currently owned by company insiders.
SNX has been the topic of a number of recent research reports. Zacks Investment Research downgraded SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. SunTrust Banks restated a “buy” rating and issued a $130.00 target price on shares of SYNNEX in a research note on Tuesday, April 3rd. Pivotal Research set a $135.00 target price on SYNNEX and gave the stock a “buy” rating in a research note on Monday, April 2nd. Stifel Nicolaus restated a “hold” rating and issued a $140.00 target price (down previously from $152.00) on shares of SYNNEX in a research note on Monday, April 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $135.00 price target (down previously 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 investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $143.29.
SYNNEX traded down $1.14, reaching $115.15, during mid-day trading on Monday, Marketbeat Ratings reports. 1,748 shares of the company’s stock were exchanged, compared to its average volume of 152,436. The company has a market capitalization of $4.66 billion, a P/E ratio of 13.13 and a beta of 0.98. The company has a current ratio of 1.48, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. SYNNEX Co. has a 12-month low of $93.87 and a 12-month high of $141.94.
SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, March 29th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.03. The company had revenue of $4.55 billion for the quarter, compared to the consensus estimate of $4.47 billion. SYNNEX had a return on equity of 16.52% and a net margin of 1.46%. SYNNEX’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 earnings per share. research analysts predict that SYNNEX Co. will post 10.21 earnings per share for the current fiscal year.
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.
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