Todays Report: Today, Virginia Retirement Systems ET AL Buys Shares of 3,100 Synnex Corp. (SNX)

Today, Virginia Retirement Systems ET AL Buys Shares of 3,100 Synnex Corp. (SNX)

Virginia Retirement Systems ET AL bought a new stake in Synnex Corp. (NYSE:SNX) during the third quarter, Holdings Channel reports. The fund bought 3,100 shares of the company’s stock, valued at approximately $354,000.

Several other large investors also recently bought and sold shares of SNX. Acrospire Investment Management LLC boosted its stake in Synnex Corp. by 37.5% in the second quarter. Acrospire Investment Management LLC now owns 1,100 shares of the company’s stock valued at $104,000 after buying an additional 300 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in Synnex Corp. by 85.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,300 shares of the company’s stock valued at $123,000 after buying an additional 600 shares in the last quarter. Societe Generale bought a new stake in Synnex Corp. during the second quarter valued at approximately $156,000. LS Investment Advisors LLC boosted its stake in Synnex Corp. by 69.0% in the second quarter. LS Investment Advisors LLC now owns 1,734 shares of the company’s stock valued at $164,000 after buying an additional 708 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new stake in Synnex Corp. during the second quarter valued at approximately $175,000. 74.31% of the stock is owned by hedge funds and other institutional investors.

Shares of Synnex Corp. (NYSE:SNX) traded up 0.99% on Friday, hitting $118.71. 44,293 shares of the company traded hands. The firm’s 50-day moving average is $107.23 and its 200 day moving average is $100.86. The firm has a market capitalization of $4.72 billion, a P/E ratio of 22.36 and a beta of 1.22. Synnex Corp. has a 1-year low of $75.87 and a 1-year high of $118.80.

Synnex Corp. (NYSE:SNX) last posted its quarterly earnings data on Monday, September 26th. The company reported $1.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.17. Synnex Corp. had a net margin of 1.54% and a return on equity of 13.47%. The business had revenue of $3.67 billion for the quarter. During the same quarter last year, the firm earned $1.47 EPS. The company’s revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that Synnex Corp. will post $6.57 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Friday, October 14th were given a dividend of $0.25 per share. This is a boost from Synnex Corp.’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, October 12th. This represents a $1.00 dividend on an annualized basis and a yield of 0.84%. Synnex Corp.’s payout ratio is 18.83%.

Several research firms have recently commented on SNX. Stifel Nicolaus raised their target price on shares of Synnex Corp. from $98.00 to $104.00 and gave the stock a “hold” rating in a research report on Tuesday, September 27th. Citigroup Inc. raised their target price on shares of Synnex Corp. from $103.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 27th. Zacks Investment Research cut shares of Synnex Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, August 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Synnex Corp. in a research report on Tuesday, September 27th. Finally, raised their target price on shares of Synnex Corp. from $88.00 to $113.00 and gave the stock an “underperform” rating in a research report on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Synnex Corp. presently has an average rating of “Hold” and a consensus target price of $106.71.

In other news, major shareholder Star Developments Ltd Silver sold 5,000 shares of the business’s stock in a transaction on Friday, October 14th. The shares were sold at an average price of $106.46, for a total transaction of $532,300.00. Following the completion of the sale, the insider now directly owns 5,550,364 shares of the company’s stock, valued at $590,891,751.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Developments Ltd Peer sold 6,600 shares of the business’s stock in a transaction on Monday, October 17th. The shares were sold at an average price of $105.40, for a total transaction of $695,640.00. Following the sale, the insider now directly owns 4,278,048 shares of the company’s stock, valued at $450,906,259.20. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.

About Synnex Corp.

SYNNEX Corporation is a process services company. The Company offers a range of services to resellers, retailers, original equipment manufacturers (OEMs), financial and insurance institutions, and other industry verticals across the world. The Company operates in two segments: Technology Solutions and Concentrix.

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