California Public Employees Retirement System lifted its stake in shares of SYNNEX Co. (NYSE:SNX) by 31.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,141 shares of the business services provider’s stock after buying an additional 24,725 shares during the period. California Public Employees Retirement System owned approximately 0.20% of SYNNEX worth $11,645,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CIBC Asset Management Inc purchased a new stake in shares of SYNNEX during the third quarter worth about $210,000. Steward Partners Investment Advisory LLC grew its stake in SYNNEX by 1,159.7% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 31,328 shares of the business services provider’s stock valued at $3,537,000 after acquiring an additional 28,841 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in SYNNEX during the 3rd quarter valued at about $4,110,000. CWM LLC grew its stake in SYNNEX by 187.3% during the 3rd quarter. CWM LLC now owns 227 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 148 shares in the last quarter. Finally, Legacy Capital Partners Inc. purchased a new stake in SYNNEX during the 3rd quarter valued at about $276,000. Institutional investors own 75.68% of the company’s stock.
In related news, CFO Marshall Witt sold 285 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $122.83, for a total value of $35,006.55. Following the completion of the sale, the chief financial officer now owns 15,357 shares in the company, valued at $1,886,300.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Simon Leung sold 1,000 shares of SYNNEX stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $105.66, for a total transaction of $105,660.00. Following the transaction, the senior vice president now owns 17,357 shares of the company’s stock, valued at approximately $1,833,940.62. The disclosure for this sale can be found here. Insiders sold a total of 25,927 shares of company stock valued at $2,978,801 in the last 90 days. Company insiders own 3.20% of the company’s stock.
Several brokerages recently issued reports on SNX. Bank of America began coverage on shares of SYNNEX in a research note on Friday, September 6th. They set a “buy” rating and a $120.00 price objective for the company. TheStreet raised shares of SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, September 27th. ValuEngine cut shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Tuesday, October 1st. Finally, Barrington Research restated a “buy” rating and issued a $118.00 price objective on shares of SYNNEX in a report on Friday, September 20th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $128.80.
SYNNEX stock traded up $2.61 during mid-day trading on Wednesday, reaching $124.00. 321,228 shares of the company’s stock were exchanged, compared to its average volume of 371,755. SYNNEX Co. has a twelve month low of $72.76 and a twelve month high of $125.35. The company has a fifty day moving average of $119.37 and a 200-day moving average of $101.14. The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.77. The company has a market cap of $6.27 billion, a P/E ratio of 11.39, a P/E/G ratio of 0.94 and a beta of 1.01.
SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, September 24th. The business services provider reported $3.30 EPS for the quarter, beating the Zacks’ consensus estimate of $2.86 by $0.44. The firm had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $5.69 billion. SYNNEX had a net margin of 1.92% and a return on equity of 17.96%. The company’s revenue was up 28.7% on a year-over-year basis. During the same period last year, the firm posted $2.57 EPS. Equities research analysts expect that SYNNEX Co. will post 12.61 earnings per share for the current fiscal year.
SYNNEX Corporation provides business process services in the Americas, Asia-Pacific, Europe and Africa. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center servers and storage solutions; system components; software; networking, communications, and security equipment; consumer electronics; and complementary products.
Read More: Short Selling
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.