SYNNEX Co. (SNX) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in SYNNEX Co. (NYSE:SNX) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 391,245 shares of the business services provider’s stock after buying an additional 8,603 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.99% of SYNNEX worth $37,760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Arizona State Retirement System lifted its stake in shares of SYNNEX by 2.7% in the 2nd quarter. Arizona State Retirement System now owns 20,328 shares of the business services provider’s stock valued at $1,962,000 after purchasing an additional 528 shares during the period. Janus Henderson Group PLC lifted its stake in shares of SYNNEX by 45.3% in the 2nd quarter. Janus Henderson Group PLC now owns 2,523 shares of the business services provider’s stock valued at $243,000 after purchasing an additional 786 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of SYNNEX by 5.8% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 17,437 shares of the business services provider’s stock valued at $1,683,000 after purchasing an additional 950 shares during the period. Capital Fund Management S.A. lifted its stake in shares of SYNNEX by 21.3% in the 2nd quarter. Capital Fund Management S.A. now owns 5,700 shares of the business services provider’s stock valued at $550,000 after purchasing an additional 1,000 shares during the period. Finally, Rothschild Asset Management Inc. lifted its stake in shares of SYNNEX by 1.4% in the 2nd quarter. Rothschild Asset Management Inc. now owns 83,687 shares of the business services provider’s stock valued at $8,077,000 after purchasing an additional 1,178 shares during the period. Institutional investors and hedge funds own 71.66% of the company’s stock.

A number of research firms have recently commented on SNX. Zacks Investment Research upgraded SYNNEX from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Tuesday, October 9th. TheStreet cut SYNNEX from a “b-” rating to a “c+” rating in a research note on Friday, October 12th. 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 research note on Thursday, October 4th. Stifel Nicolaus lowered their target price on SYNNEX from $130.00 to $114.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. Finally, SunTrust Banks lowered their target price on SYNNEX to $100.00 and set a “buy” rating for the company in a research note on Thursday, October 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. SYNNEX currently has an average rating of “Buy” and an average target price of $127.00.

In related news, major shareholder Star Developments Ltd Silver acquired 113,000 shares of SYNNEX stock in a transaction that occurred on Monday, October 22nd. The stock was bought at an average price of $80.53 per share, with a total value of $9,099,890.00. Following the transaction, the insider now directly owns 5,125,080 shares in the company, valued at $412,722,692.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Miau acquired 122,202 shares of SYNNEX stock in a transaction that occurred on Friday, October 19th. The shares were bought at an average cost of $78.27 per share, with a total value of $9,564,750.54. Following the transaction, the director now owns 364,352 shares in the company, valued at $28,517,831.04. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 370,331 shares of company stock valued at $29,495,099 and have sold 8,609 shares valued at $735,256. 3.20% of the stock is owned by company insiders.

SNX stock opened at $75.33 on Friday. SYNNEX Co. has a twelve month low of $72.83 and a twelve month high of $141.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.94. The company has a market cap of $3.79 billion, a P/E ratio of 8.50 and a beta of 0.83.

SYNNEX (NYSE:SNX) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.88 billion. During the same quarter last year, the company earned $2.16 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Equities research analysts forecast that SYNNEX Co. will post 10.12 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 12th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date was Thursday, October 11th. SYNNEX’s dividend payout ratio (DPR) is presently 15.80%.

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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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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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