ClariVest Asset Management LLC lessened its stake in shares of Synnex (NYSE:SNX) by 17.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,000 shares of the business services provider’s stock after selling 12,900 shares during the period. ClariVest Asset Management LLC owned about 0.15% of Synnex worth $7,104,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Synnex by 48.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,663 shares of the business services provider’s stock worth $226,000 after buying an additional 541 shares during the last quarter. Zeke Capital Advisors LLC purchased a new stake in Synnex during the fourth quarter worth about $252,000. BlueCrest Capital Management Ltd purchased a new stake in Synnex during the fourth quarter worth about $280,000. Oakbrook Investments LLC increased its holdings in Synnex by 30.3% during the fourth quarter. Oakbrook Investments LLC now owns 2,150 shares of the business services provider’s stock worth $292,000 after buying an additional 500 shares during the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new stake in Synnex during the fourth quarter worth about $348,000. Institutional investors and hedge funds own 72.63% of the company’s stock.
Shares of Synnex opened at $110.26 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.48 and a quick ratio of 0.86. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 12.49 and a beta of 1.01. Synnex has a twelve month low of $110.00 and a twelve month high of $110.89.
Synnex (NYSE:SNX) last issued its earnings results on Thursday, March 29th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.03. The firm had revenue of $4.55 billion during the quarter, compared to analyst estimates of $4.47 billion. Synnex had a net margin of 1.46% and a return on equity of 16.52%. The company’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter last year, the business earned $1.82 earnings per share. analysts predict that Synnex will post 10.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 27th. Shareholders of record on Friday, April 13th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, April 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.27%. Synnex’s dividend payout ratio is presently 15.80%.
In other Synnex news, Director Matthew Miau sold 500 shares of the stock in a transaction dated Wednesday, April 4th. The shares were sold at an average price of $97.95, for a total transaction of $48,975.00. Following the completion of the transaction, the director now owns 375,357 shares in the company, valued at $36,766,218.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Simon Leung sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $122.99, for a total transaction of $122,990.00. The disclosure for this sale can be found here. Insiders have sold 19,500 shares of company stock valued at $2,065,238 in the last quarter. Company insiders own 3.20% of the company’s stock.
A number of research firms recently issued reports on SNX. Zacks Investment Research downgraded shares of Synnex from a “buy” rating to a “hold” rating in a report on Wednesday, March 14th. ValuEngine downgraded shares of Synnex from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Pivotal Research upgraded shares of Synnex from a “hold” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Wednesday, January 31st. Stifel Nicolaus restated a “hold” rating and set a $140.00 price objective (down previously from $152.00) on shares of Synnex in a report on Monday, April 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $135.00 price objective (down previously from $151.00) on shares of Synnex in a report on Monday, April 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Synnex currently has a consensus rating of “Hold” and a consensus target price of $140.63.
Synnex Company Profile
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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