Huntington National Bank grew its holdings in shares of SYNNEX Co. (NYSE:SNX) by 31.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 914 shares of the business services provider’s stock after buying an additional 220 shares during the quarter. Huntington National Bank’s holdings in SYNNEX were worth $87,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in SNX. BlackRock Inc. grew its stake in shares of SYNNEX by 31.4% during the fourth quarter. BlackRock Inc. now owns 4,965,381 shares of the business services provider’s stock valued at $401,402,000 after buying an additional 1,187,745 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SYNNEX by 44.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,563,670 shares of the business services provider’s stock valued at $207,246,000 after buying an additional 788,533 shares during the last quarter. Boston Partners grew its stake in shares of SYNNEX by 86.3% during the fourth quarter. Boston Partners now owns 1,521,539 shares of the business services provider’s stock valued at $123,002,000 after buying an additional 704,910 shares during the last quarter. LSV Asset Management grew its stake in shares of SYNNEX by 1,793.4% during the fourth quarter. LSV Asset Management now owns 622,916 shares of the business services provider’s stock valued at $50,356,000 after buying an additional 590,016 shares during the last quarter. Finally, FMR LLC grew its stake in shares of SYNNEX by 9.4% during the fourth quarter. FMR LLC now owns 6,502,935 shares of the business services provider’s stock valued at $525,697,000 after buying an additional 558,710 shares during the last quarter. 77.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE SNX opened at $107.36 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $5.51 billion, a P/E ratio of 9.86, a PEG ratio of 0.75 and a beta of 0.73. SYNNEX Co. has a 52-week low of $71.82 and a 52-week high of $116.47.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $0.375 dividend. The ex-dividend date is Thursday, April 11th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.40%. SYNNEX’s payout ratio is 13.77%.
A number of research analysts have recently commented on SNX shares. ValuEngine cut SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Citigroup set a $140.00 target price on SYNNEX and gave the company a “buy” rating in a research note on Friday, April 12th. TheStreet raised SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, January 25th. Zacks Investment Research cut SYNNEX from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. Finally, Cross Research upgraded SYNNEX from a “hold” rating to a “buy” rating in a report on Friday, January 11th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. SYNNEX presently has a consensus rating of “Buy” and an average target price of $123.00.
In other SYNNEX news, SVP Simon Leung sold 1,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $100.16, for a total transaction of $100,160.00. Following the completion of the sale, the senior vice president now owns 23,043 shares in the company, valued at $2,307,986.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dwight Steffensen sold 1,295 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $100.76, for a total value of $130,484.20. The disclosure for this sale can be found here. Insiders sold 13,553 shares of company stock valued at $1,399,978 in the last quarter. 3.20% of the stock is owned by company insiders.
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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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