Virginia Retirement Systems ET AL Sells 300 Shares of SYNNEX Co. (NYSE:SNX)

Virginia Retirement Systems ET AL cut its stake in shares of SYNNEX Co. (NYSE:SNX) by 2.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,100 shares of the business services provider’s stock after selling 300 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in SYNNEX were worth $1,387,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its holdings in SYNNEX by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the business services provider’s stock worth $1,059,000 after buying an additional 100 shares in the last quarter. Investors Research Corp increased its holdings in SYNNEX by 17.6% in the 2nd quarter. Investors Research Corp now owns 843 shares of the business services provider’s stock worth $83,000 after buying an additional 126 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in SYNNEX by 1.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 7,034 shares of the business services provider’s stock worth $671,000 after buying an additional 128 shares in the last quarter. Private Trust Co. NA increased its holdings in SYNNEX by 2.8% in the 2nd quarter. Private Trust Co. NA now owns 5,531 shares of the business services provider’s stock worth $544,000 after buying an additional 151 shares in the last quarter. Finally, Huntington National Bank increased its holdings in SYNNEX by 21.6% in the 2nd quarter. Huntington National Bank now owns 1,111 shares of the business services provider’s stock worth $109,000 after buying an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 77.65% of the company’s stock.

SNX has been the subject of several research analyst reports. Zacks Investment Research upgraded SYNNEX from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a report on Friday, June 28th. Barrington Research set a $118.00 price objective on SYNNEX and gave the stock a “buy” rating in a report on Friday, July 12th. Finally, ValuEngine downgraded SYNNEX from a “sell” rating to a “strong sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. SYNNEX currently has a consensus rating of “Buy” and an average price target of $122.57.

NYSE:SNX traded down $1.56 on Friday, hitting $84.85. The stock had a trading volume of 210,061 shares, compared to its average volume of 318,733. The stock has a market cap of $4.43 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 0.60 and a beta of 0.96. The company has a current ratio of 1.57, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $96.08. SYNNEX Co. has a 52-week low of $71.82 and a 52-week high of $109.62.

SYNNEX (NYSE:SNX) last announced its earnings results on Tuesday, June 25th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $0.15. The business had revenue of $5.72 billion for the quarter, compared to analysts’ expectations of $5.53 billion. SYNNEX had a return on equity of 17.65% and a net margin of 1.79%. Equities analysts forecast that SYNNEX Co. will post 12.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a $0.375 dividend. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $1.50 annualized dividend and a yield of 1.77%. SYNNEX’s payout ratio is 13.77%.

In other SYNNEX news, SVP Simon Leung sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $100.03, for a total value of $100,030.00. Following the transaction, the senior vice president now directly owns 21,257 shares of the company’s stock, valued at $2,126,337.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall Witt sold 600 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $86.72, for a total value of $52,032.00. Following the completion of the transaction, the chief financial officer now directly owns 15,893 shares in the company, valued at $1,378,240.96. The disclosure for this sale can be found here. Insiders sold 4,851 shares of company stock worth $479,674 over the last three months. Insiders own 3.20% of the company’s stock.

About SYNNEX

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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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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