Campbell & CO Investment Adviser LLC increased its stake in SYNNEX Co. (NYSE:SNX) by 13.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,417 shares of the business services provider’s stock after purchasing an additional 417 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in SYNNEX were worth $386,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in SNX. Invesco Ltd. boosted its position in shares of SYNNEX by 112.0% in the second quarter. Invesco Ltd. now owns 130,051 shares of the business services provider’s stock worth $12,797,000 after acquiring an additional 68,714 shares during the last quarter. Copeland Capital Management LLC lifted its position in SYNNEX by 21.0% during the second quarter. Copeland Capital Management LLC now owns 332,943 shares of the business services provider’s stock valued at $32,761,000 after buying an additional 57,873 shares in the last quarter. Paradigm Capital Management Inc. NY lifted its position in SYNNEX by 2.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 109,703 shares of the business services provider’s stock valued at $10,795,000 after buying an additional 2,230 shares in the last quarter. JPMorgan Chase & Co. lifted its position in SYNNEX by 5.3% during the second quarter. JPMorgan Chase & Co. now owns 105,680 shares of the business services provider’s stock valued at $10,362,000 after buying an additional 5,346 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in SYNNEX during the second quarter valued at approximately $628,000. Institutional investors and hedge funds own 77.01% of the company’s stock.
A number of brokerages have weighed in on SNX. TheStreet raised shares of SYNNEX from a “c+” rating to a “b-” rating in a research report on Friday, September 27th. Zacks Investment Research upgraded 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. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Barrington Research reiterated a “buy” rating and set a $118.00 target price on shares of SYNNEX in a research note on Friday, September 20th. Finally, Bank of America began coverage on shares of SYNNEX in a report on Friday, September 6th. They set a “buy” rating and a $120.00 price target for the company. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $128.80.
In other news, insider Peter Larocque sold 10,163 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $112.74, for a total value of $1,145,776.62. Following the transaction, the insider now owns 25,003 shares in the company, valued at approximately $2,818,838.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrea M. Zulberti sold 500 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $107.83, for a total value of $53,915.00. Following the completion of the transaction, the director now owns 13,265 shares in the company, valued at approximately $1,430,364.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,902 shares of company stock worth $2,482,698. Corporate insiders own 3.20% of the company’s stock.
SNX stock traded down $1.09 during trading on Friday, hitting $119.22. The company had a trading volume of 294,960 shares, compared to its average volume of 374,593. The firm has a market capitalization of $6.17 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 0.92 and a beta of 1.01. The business has a 50 day moving average of $113.83 and a 200 day moving average of $99.33. SYNNEX Co. has a fifty-two week low of $71.82 and a fifty-two week high of $122.43. The company has a current ratio of 1.57, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.
SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Tuesday, September 24th. The business services provider reported $3.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.86 by $0.44. SYNNEX had a net margin of 1.92% and a return on equity of 17.96%. The company had revenue of $6.20 billion during the quarter, compared to the consensus estimate of $5.69 billion. During the same period in the prior year, the company earned $2.57 EPS. SYNNEX’s revenue was up 28.7% on a year-over-year basis. As a group, equities analysts predict that SYNNEX Co. will post 12.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.375 per share. The ex-dividend date was Thursday, October 10th. This represents a $1.50 annualized dividend and a yield of 1.26%. SYNNEX’s payout ratio is presently 13.77%.
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.
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