SYNNEX Co. (NYSE:SNX) has earned an average rating of “Buy” from the ten analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $127.00.
A number of analysts have issued reports on SNX shares. Zacks Investment Research raised SYNNEX from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Stifel Nicolaus reduced their target price on SYNNEX from $130.00 to $114.00 and set a “buy” rating for the company in a report on Thursday, October 4th. Needham & Company LLC raised SYNNEX from a “buy” rating to a “strong-buy” rating and set a $135.00 target price for the company in a report on Thursday, October 4th. SunTrust Banks reduced their target price on SYNNEX to $100.00 and set a “buy” rating for the company in a report on Thursday, October 4th. Finally, TheStreet downgraded SYNNEX from a “b-” rating to a “c+” rating in a report on Friday, October 12th.
NYSE SNX traded down $1.42 during trading on Monday, reaching $78.94. 315,245 shares of the company’s stock were exchanged, compared to its average volume of 568,672. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 8.91 and a beta of 0.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.94. SYNNEX has a 1 year low of $72.83 and a 1 year high of $141.94.
The company also recently announced a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend was Thursday, October 11th. SYNNEX’s payout ratio is currently 15.80%.
In related news, CFO Marshall Witt sold 600 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $78.22, for a total value of $46,932.00. Following the transaction, the chief financial officer now owns 18,874 shares in the company, valued at approximately $1,476,324.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dennis Polk sold 2,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $84.81, for a total value of $169,620.00. Following the completion of the transaction, the chief executive officer now owns 26,494 shares in the company, valued at approximately $2,246,956.14. The disclosure for this sale can be found here. Over the last three months, insiders bought 370,331 shares of company stock valued at $29,495,099 and sold 8,609 shares valued at $735,256. 3.20% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. increased its position in SYNNEX by 199.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,223 shares of the business services provider’s stock valued at $104,000 after acquiring an additional 814 shares during the period. Townsend & Associates Inc acquired a new position in SYNNEX in the 2nd quarter valued at about $108,000. Cornerstone Wealth Management LLC acquired a new position in SYNNEX in the 2nd quarter valued at about $131,000. Point72 Hong Kong Ltd acquired a new position in SYNNEX in the 2nd quarter valued at about $136,000. Finally, US Bancorp DE increased its position in SYNNEX by 66.6% in the 3rd quarter. US Bancorp DE now owns 2,456 shares of the business services provider’s stock valued at $208,000 after acquiring an additional 982 shares during the period. Hedge funds and other institutional investors own 71.66% of the company’s stock.
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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