Mawer Investment Management Ltd. held its stake in shares of Synnex Corporation (NYSE:SNX) during the second quarter, according to its most recent filing with the SEC. The firm owned 1,310 shares of the business services provider's stock after buying an additional 106 shares during the period. Liberty Mutual Group Asset Management Inc. increased its stake in Synnex Corporation by 3.2% in the first quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Treasurer State of MI increased its stake in Synnex Corporation by 0.9% in the first quarter. As of quarter end Teachers Advisors, LLC had acquired a total of 165,008 shares growing its position 190.5%.
Hennessy Advisors Inc holds 1.38% of its portfolio in SYNNEX Corporation for 383,200 shares. Northwestern Mutual Investment Management Company LLC raised its position in Synnex Corporation by 0.4% in the first quarter. Finally, State Treasurer State of MI boosted its position in Synnex Corporation by 0.9% in the first quarter. Nisa Investment Advisors LLC now owns 11,160 shares of the business services provider's stock valued at $1,339,000 after buying an additional 50 shares during the last quarter. It dived, as 28 investors sold SYNNEX Corporation shares while 85 reduced holdings. Citadel Advisors LLC now owns 269,111 shares valued at $32,283,000.
Shares of Synnex Corporation (SNX) opened at 118.74 on Thursday.
About 33,779 shares traded.
The company now has a P/E ratio of 16.69 and the market cap is 4.64B.
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Synnex Corporation is a business process services company. The firm has a 50 day moving average of $120.39 and a 200-day moving average of $115.61.
CLSA downgraded SYNNEX Corporation (NYSE:SNX) on Thursday, October 29 to "Underperform" rating. The business services provider reported $2.08 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $1.79 by $0.29. 1,500 SYNNEX Corporation (NYSE:SNX) shares with value of $167,955 were sold by POLK DENNIS. During the same quarter in the prior year, the firm earned $1.37 EPS. The business's quarterly revenue was up 16.5% compared to the same quarter a year ago.
On average, analysts expect that Synnex Corporation will report full-year sales of $4.01 billion for the current financial year, with estimates ranging from $15.73 billion to $15.77 billion. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. This dividend amount represented a yeild of $0.84. The ex-dividend date was Wednesday the 12th of July 2017. The dividend payment was $0.250 per share for the quarter or $1.00 on an annualized basis. Synnex Corporation's dividend payout ratio (DPR) is now 14.35%.
ILLEGAL ACTIVITY WARNING: This piece was reported by Week Herald and is owned by of Week Herald. If you are viewing this piece on another domain, it was copied illegally and reposted in violation of worldwide copyright & trademark laws. The legal version of this piece can be viewed at https://weekherald.com/2017/08/11/pnc-financial-services-group-inc-increases-position-in-synnex-corporation-snx-updated-updated.html. Stifel Nicolaus reissued a "buy" rating and issued a $132.00 price target on shares of Synnex Corporation in a research report on Thursday, August 3rd. BidaskClub raised shares of Synnex Corporation from a "hold" rating to a "buy" rating in a research report on Tuesday, June 13th. Citigroup Inc reaffirmed a "neutral" rating and set a $133.00 price objective (up from $122.00) on shares of Synnex Corporation in a research note on Sunday, June 25th. Finally, Zacks Investment Research downgraded shares of Synnex Corporation from a "buy" rating to a "hold" rating in a research report on Tuesday, May 30th.
On May 19, 2017 the stock rating was changed to a "Strong Buy" in a report from Raymond James a boost from the previous "Outperform" rating. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The stock now has a consensus rating of "Hold" and an average price target of $126.67. The shares were sold at an average price of $112.37, for a total transaction of $96,188.72. Following the transaction, the senior vice president now owns 25,053 shares in the company, valued at approximately $3,000,597.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The stock was sold at an average price of $125.00, for a total value of $39,750.00. Following the transaction, the director now owns 14,922 shares in the company, valued at approximately $1,880,172. Simon Leung, Sr VP disclosed the sale of 759 shares of SNX stock. Over the last quarter, insiders have sold 27,028 shares of company stock valued at $3,226,618. Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 0% of its portfolio in SYNNEX Corporation (NYSE:SNX). The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy. The Company operates in two segments: Technology Solutions and Concentrix.