Martingale Asset Management L P Acquires 15,102 Shares of SYNNEX Co. (SNX)

Martingale Asset Management L P raised its holdings in SYNNEX Co. (NYSE:SNX) by 49.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 45,405 shares of the business services provider’s stock after acquiring an additional 15,102 shares during the quarter. Martingale Asset Management L P’s holdings in SYNNEX were worth $4,383,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SNX. Wells Fargo & Company MN increased its stake in SYNNEX by 72.6% in the 1st quarter. Wells Fargo & Company MN now owns 183,343 shares of the business services provider’s stock valued at $21,708,000 after buying an additional 77,144 shares during the last quarter. Dupont Capital Management Corp increased its stake in SYNNEX by 9.2% in the 1st quarter. Dupont Capital Management Corp now owns 32,438 shares of the business services provider’s stock valued at $3,841,000 after buying an additional 2,738 shares during the last quarter. American Century Companies Inc. increased its stake in SYNNEX by 26.7% in the 1st quarter. American Century Companies Inc. now owns 42,981 shares of the business services provider’s stock valued at $5,089,000 after buying an additional 9,058 shares during the last quarter. Boston Partners increased its stake in SYNNEX by 172.6% in the 1st quarter. Boston Partners now owns 798,150 shares of the business services provider’s stock valued at $94,501,000 after buying an additional 505,382 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in SYNNEX by 1.5% in the 1st quarter. Prudential Financial Inc. now owns 369,312 shares of the business services provider’s stock valued at $43,727,000 after buying an additional 5,620 shares during the last quarter. Hedge funds and other institutional investors own 71.57% of the company’s stock.

In other news, CFO Marshall Witt sold 300 shares of the business’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $107.66, for a total transaction of $32,298.00. Following the transaction, the chief financial officer now directly owns 19,310 shares in the company, valued at approximately $2,078,914.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Simon Leung sold 1,000 shares of the business’s stock in a transaction dated Friday, June 1st. The stock was sold at an average price of $107.92, for a total transaction of $107,920.00. Following the transaction, the senior vice president now owns 21,876 shares in the company, valued at $2,360,857.92. The disclosure for this sale can be found here. Insiders have sold a total of 8,757 shares of company stock worth $880,423 over the last 90 days. 3.20% of the stock is owned by company insiders.

Several equities research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of SYNNEX from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. TheStreet upgraded shares of SYNNEX from a “c+” rating to a “b” rating in a research note on Friday, June 29th. Cross Research lowered shares of SYNNEX from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. Stifel Nicolaus lowered their price target on shares of SYNNEX from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. Finally, Pivotal Research lowered their price target on shares of SYNNEX from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, June 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $141.14.

SYNNEX stock opened at $96.57 on Monday. The stock has a market cap of $3.83 billion, a PE ratio of 10.90 and a beta of 0.89. SYNNEX Co. has a fifty-two week low of $93.80 and a fifty-two week high of $141.94. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 0.48.

SYNNEX (NYSE:SNX) last released its quarterly earnings data on Thursday, June 28th. The business services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.08. The company had revenue of $4.97 billion for the quarter, compared to analyst estimates of $4.66 billion. SYNNEX had a net margin of 1.49% and a return on equity of 16.69%. SYNNEX’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.08 EPS. research analysts expect that SYNNEX Co. will post 10.1 EPS for the current fiscal year.

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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