SYNNEX Co. (NYSE:SNX) CFO Marshall Witt sold 600 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $82.13, for a total value of $49,278.00. Following the completion of the transaction, the chief financial officer now owns 18,274 shares in the company, valued at approximately $1,500,843.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Marshall Witt also recently made the following trade(s):
- On Thursday, November 1st, Marshall Witt sold 600 shares of SYNNEX stock. The shares were sold at an average price of $78.22, for a total value of $46,932.00.
- 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.
NYSE:SNX traded up $0.50 during mid-day trading on Thursday, reaching $77.25. The stock had a trading volume of 2,826 shares, compared to its average volume of 348,482. SYNNEX Co. has a fifty-two week low of $71.82 and a fifty-two week high of $141.94. The company has a market capitalization of $3.93 billion, a P/E ratio of 8.66 and a beta of 0.82. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 1.51.
Large investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. increased its holdings 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 worth $104,000 after buying an additional 814 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in SYNNEX in the second quarter worth approximately $131,000. Point72 Hong Kong Ltd acquired a new position in SYNNEX in the second quarter worth approximately $136,000. US Bancorp DE increased its holdings in SYNNEX by 66.6% in the third quarter. US Bancorp DE now owns 2,456 shares of the business services provider’s stock worth $208,000 after buying an additional 982 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in SYNNEX in the second quarter worth approximately $210,000. Hedge funds and other institutional investors own 57.76% of the company’s stock.
SNX has been the topic of a number of research reports. Zacks Investment Research upgraded SYNNEX from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Stifel Nicolaus dropped their target price on SYNNEX from $130.00 to $114.00 and set a “buy” rating on the stock 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 on the stock in a report on Thursday, October 4th. SunTrust Banks dropped their target price on SYNNEX to $100.00 and set a “buy” rating on the stock in a report on Thursday, October 4th. Finally, TheStreet downgraded SYNNEX from a “b-” rating to a “c+” rating in a report on Friday, October 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. SYNNEX presently has an average rating of “Buy” and a consensus price target of $127.00.
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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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