Marshall Witt Sells 600 Shares of SYNNEX Co. (SNX) Stock

SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 600 shares of SYNNEX stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $78.22, for a total value of $46,932.00. Following the completion of the transaction, the chief financial officer now owns 18,874 shares of the company’s stock, valued at $1,476,324.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Marshall Witt also recently made the following trade(s):

  • On Monday, October 1st, Marshall Witt sold 600 shares of SYNNEX stock. The shares were sold at an average price of $85.10, for a total value of $51,060.00.
  • On Tuesday, September 4th, Marshall Witt sold 600 shares of SYNNEX stock. The shares were sold at an average price of $96.44, for a total value of $57,864.00.

SYNNEX stock opened at $81.85 on Friday. SYNNEX Co. has a 1-year low of $72.83 and a 1-year high of $141.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 1.51. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 8.28 and a beta of 0.83.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Wednesday, October 3rd. The business services provider reported $2.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.46 by $0.11. SYNNEX had a return on equity of 17.16% and a net margin of 1.41%. The company had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.88 billion. During the same period last year, the firm earned $2.16 earnings per share. SYNNEX’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, analysts anticipate that SYNNEX Co. will post 10.12 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 12th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Thursday, October 11th. SYNNEX’s dividend payout ratio is presently 15.80%.

A number of institutional investors have recently bought and sold shares of the business. Arizona State Retirement System raised its stake in SYNNEX by 2.7% in the second quarter. Arizona State Retirement System now owns 20,328 shares of the business services provider’s stock valued at $1,962,000 after buying an additional 528 shares in the last quarter. Visionary Asset Management Inc. raised its stake in SYNNEX by 20.4% in the third quarter. Visionary Asset Management Inc. now owns 3,617 shares of the business services provider’s stock valued at $306,000 after buying an additional 612 shares in the last quarter. Janus Henderson Group PLC raised its stake in SYNNEX by 45.3% in the second quarter. Janus Henderson Group PLC now owns 2,523 shares of the business services provider’s stock valued at $243,000 after buying an additional 786 shares in the last quarter. Meeder Asset Management Inc. raised its stake in SYNNEX by 199.0% in the third quarter. Meeder Asset Management Inc. now owns 1,223 shares of the business services provider’s stock valued at $104,000 after buying an additional 814 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its stake in SYNNEX by 5.8% in the second quarter. Metropolitan Life Insurance Co. NY now owns 17,437 shares of the business services provider’s stock valued at $1,683,000 after buying an additional 950 shares in the last quarter. Institutional investors own 71.66% of the company’s stock.

SNX has been the subject of a number of recent research reports. Zacks Investment Research lowered SYNNEX from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. SunTrust Banks decreased their target price on SYNNEX to $100.00 and set a “buy” rating for the company in a report on Thursday, October 4th. Stifel Nicolaus decreased 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 upgraded 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. Finally, TheStreet lowered SYNNEX from a “b-” rating to a “c+” rating in a report on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $127.00.

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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