Rothschild Investment Corp IL acquired a new position in shares of SYNNEX Co. (NYSE:SNX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,620 shares of the business services provider’s stock, valued at approximately $466,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC increased its stake in shares of SYNNEX by 187.3% in the 3rd quarter. CWM LLC now owns 227 shares of the business services provider’s stock worth $26,000 after acquiring an additional 148 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of SYNNEX by 854.1% during the 4th quarter. CENTRAL TRUST Co now owns 582 shares of the business services provider’s stock valued at $75,000 after acquiring an additional 521 shares during the last quarter. Advisors Preferred LLC purchased a new stake in shares of SYNNEX in the fourth quarter valued at about $98,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of SYNNEX in the third quarter valued at about $113,000. Finally, Bank of Montreal Can increased its position in SYNNEX by 16.0% during the second quarter. Bank of Montreal Can now owns 1,327 shares of the business services provider’s stock worth $131,000 after purchasing an additional 183 shares during the last quarter. 75.72% of the stock is currently owned by institutional investors.
In other SYNNEX news, Director Andrea M. Zulberti sold 500 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $129.71, for a total transaction of $64,855.00. Following the sale, the director now directly owns 13,265 shares in the company, valued at approximately $1,720,603.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Peter Larocque sold 17,330 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $150.89, for a total transaction of $2,614,923.70. Following the completion of the transaction, the insider now directly owns 18,363 shares of the company’s stock, valued at approximately $2,770,793.07. The disclosure for this sale can be found here. Insiders sold a total of 40,610 shares of company stock worth $5,715,454 in the last quarter. Company insiders own 3.20% of the company’s stock.
SYNNEX (NYSE:SNX) last released its quarterly earnings results on Thursday, January 9th. The business services provider reported $4.26 EPS for the quarter, topping analysts’ consensus estimates of $3.61 by $0.65. SYNNEX had a return on equity of 18.84% and a net margin of 2.11%. The company had revenue of $6.58 billion for the quarter, compared to analysts’ expectations of $5.99 billion. During the same period in the prior year, the firm earned $3.65 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. Research analysts forecast that SYNNEX Co. will post 13.97 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, January 23rd. This is an increase from SYNNEX’s previous quarterly dividend of $0.38. SYNNEX’s payout ratio is currently 11.31%.
Several research firms have weighed in on SNX. Zacks Investment Research upgraded shares of SYNNEX from a “hold” rating to a “strong-buy” rating and set a $153.00 target price on the stock in a report on Monday, January 13th. TheStreet raised shares of SYNNEX from a “c+” rating to a “b-” rating in a research report on Friday, September 27th. Loop Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of SYNNEX in a research report on Friday, January 10th. Citigroup upped their price objective on SYNNEX from $140.00 to $175.00 and gave the company a “buy” rating in a report on Monday, January 13th. Finally, Stifel Nicolaus increased their price objective on SYNNEX from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. SYNNEX currently has an average rating of “Buy” and an average target price of $155.43.
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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