Crossmark Global Holdings Inc. Reduces Holdings in SYNNEX Co. (NYSE:SNX)

Crossmark Global Holdings Inc. lessened its position in shares of SYNNEX Co. (NYSE:SNX) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,820 shares of the business services provider’s stock after selling 185 shares during the period. Crossmark Global Holdings Inc.’s holdings in SYNNEX were worth $770,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of SYNNEX by 112.0% during the 2nd quarter. Invesco Ltd. now owns 130,051 shares of the business services provider’s stock valued at $12,797,000 after buying an additional 68,714 shares during the last quarter. Copeland Capital Management LLC lifted its position in shares of SYNNEX by 21.0% during the 2nd quarter. Copeland Capital Management LLC now owns 332,943 shares of the business services provider’s stock valued at $32,761,000 after buying an additional 57,873 shares during the last quarter. Paradigm Capital Management Inc. NY lifted its position in shares of SYNNEX by 2.1% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 109,703 shares of the business services provider’s stock valued at $10,795,000 after buying an additional 2,230 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of SYNNEX by 5.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 105,680 shares of the business services provider’s stock valued at $10,362,000 after buying an additional 5,346 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of SYNNEX during the 2nd quarter valued at $628,000. 76.94% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on the company. Zacks Investment Research upgraded SYNNEX from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Tuesday, October 1st. Bank of America assumed coverage on SYNNEX in a research note on Friday, September 6th. They set a “buy” rating and a $120.00 price objective on the stock. TheStreet upgraded SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, September 27th. Barrington Research reiterated a “buy” rating and set a $118.00 price objective on shares of SYNNEX in a research note on Friday, September 20th. Finally, ValuEngine lowered SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $128.80.

NYSE:SNX opened at $114.43 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 1.57. SYNNEX Co. has a 52-week low of $71.82 and a 52-week high of $115.72. The firm has a market cap of $5.81 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 0.87 and a beta of 1.02. The business’s fifty day moving average is $100.00 and its 200 day moving average is $97.49.

SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, September 24th. The business services provider reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.44. SYNNEX had a return on equity of 17.96% and a net margin of 1.92%. The company had revenue of $6.20 billion for the quarter, compared to analyst estimates of $5.69 billion. During the same period in the previous year, the company posted $2.57 EPS. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year. Equities analysts predict that SYNNEX Co. will post 12.61 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.50 dividend on an annualized basis and a yield of 1.31%. SYNNEX’s dividend payout ratio is currently 13.77%.

In other SYNNEX news, SVP Simon Leung sold 1,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $105.66, for a total value of $105,660.00. Following the transaction, the senior vice president now directly owns 17,357 shares in the company, valued at approximately $1,833,940.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Marshall Witt sold 285 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $98.50, for a total value of $28,072.50. Following the completion of the transaction, the chief financial officer now owns 15,008 shares in the company, valued at $1,478,288. The disclosure for this sale can be found here. Insiders sold a total of 16,518 shares of company stock worth $1,828,178 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

SYNNEX Profile

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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