SYNNEX Co. (SNX) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in shares of SYNNEX Co. (NYSE:SNX) by 7.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,966 shares of the business services provider’s stock after acquiring an additional 4,455 shares during the period. JPMorgan Chase & Co.’s holdings in SYNNEX were worth $8,047,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of SNX. Meadow Creek Investment Management LLC raised its position in shares of SYNNEX by 28.6% in the fourth quarter. Meadow Creek Investment Management LLC now owns 3,978 shares of the business services provider’s stock valued at $541,000 after buying an additional 884 shares in the last quarter. Aperio Group LLC raised its position in shares of SYNNEX by 7.8% in the first quarter. Aperio Group LLC now owns 15,425 shares of the business services provider’s stock valued at $1,826,000 after buying an additional 1,113 shares in the last quarter. Swiss National Bank raised its position in shares of SYNNEX by 2.4% in the first quarter. Swiss National Bank now owns 52,200 shares of the business services provider’s stock valued at $6,180,000 after buying an additional 1,200 shares in the last quarter. Jane Street Group LLC raised its position in shares of SYNNEX by 48.3% in 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 in the last quarter. Finally, Zeke Capital Advisors LLC acquired a new stake in shares of SYNNEX in the fourth quarter valued at approximately $252,000. Institutional investors own 72.53% of the company’s stock.

A number of research firms have recently weighed in on SNX. Stifel Nicolaus reiterated a “hold” rating and issued a $140.00 price target (down from $152.00) on shares of SYNNEX in a research report on Monday, April 2nd. Zacks Investment Research downgraded shares of SYNNEX from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. SunTrust Banks restated a “buy” rating and set a $130.00 price objective on shares of SYNNEX in a research report on Tuesday, April 3rd. Pivotal Research set a $135.00 price objective on shares of SYNNEX and gave the company a “buy” rating in a research report on Monday, April 2nd. Finally, TheStreet downgraded shares of SYNNEX from a “b” rating to a “c+” rating in a research report on Friday, April 20th. Two investment 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. The stock presently has a consensus rating of “Hold” and an average target price of $143.29.

Shares of SYNNEX opened at $107.26 on Tuesday, according to MarketBeat. SYNNEX Co. has a one year low of $93.87 and a one year high of $141.94. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 12.11 and a beta of 0.98. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 0.86.

SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, March 29th. The business services provider reported $2.14 EPS for the quarter, beating the consensus estimate of $2.11 by $0.03. SYNNEX had a net margin of 1.46% and a return on equity of 16.52%. The business had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the business earned $1.82 earnings per share. The company’s revenue was up 29.3% on a year-over-year basis. sell-side analysts anticipate that SYNNEX Co. will post 10.21 earnings per share for the current fiscal year.

In other news, CEO Dennis Polk sold 2,000 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $100.09, for a total transaction of $200,180.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Miau sold 500 shares of the company’s stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $97.95, for a total transaction of $48,975.00. Following the transaction, the director now owns 375,357 shares of the company’s stock, valued at $36,766,218.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,500 shares of company stock valued at $2,014,020. Company insiders own 3.20% of the company’s stock.

SYNNEX Profile

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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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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