Zurcher Kantonalbank Zurich Cantonalbank Has $264,000 Position in SYNNEX Co. (SNX)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of SYNNEX Co. (NYSE:SNX) by 5.5% during the first quarter, Holdings Channel reports. The fund owned 2,770 shares of the business services provider’s stock after selling 160 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SYNNEX were worth $264,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SNX. World Asset Management Inc raised its stake in shares of SYNNEX by 32.8% in the 1st quarter. World Asset Management Inc now owns 3,376 shares of the business services provider’s stock valued at $322,000 after acquiring an additional 834 shares during the period. James Investment Research Inc. raised its stake in shares of SYNNEX by 27.2% in the 1st quarter. James Investment Research Inc. now owns 31,397 shares of the business services provider’s stock valued at $2,995,000 after acquiring an additional 6,705 shares during the period. Private Capital Group LLC purchased a new position in shares of SYNNEX in the 1st quarter valued at $25,000. BNP Paribas Arbitrage SA raised its stake in shares of SYNNEX by 252.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,922 shares of the business services provider’s stock valued at $1,042,000 after acquiring an additional 7,827 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of SYNNEX by 23.6% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 32,399 shares of the business services provider’s stock valued at $3,091,000 after acquiring an additional 6,190 shares during the period. Hedge funds and other institutional investors own 77.39% of the company’s stock.

In related news, CFO Marshall Witt sold 600 shares of SYNNEX stock in a transaction on Friday, March 1st. The shares were sold at an average price of $99.04, for a total transaction of $59,424.00. Following the sale, the chief financial officer now owns 17,693 shares of the company’s stock, valued at approximately $1,752,314.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Simon Leung sold 1,000 shares of SYNNEX stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $100.16, for a total transaction of $100,160.00. Following the sale, the senior vice president now directly owns 23,043 shares in the company, valued at approximately $2,307,986.88. The disclosure for this sale can be found here. Insiders have sold a total of 19,553 shares of company stock worth $2,053,720 in the last ninety days. 3.20% of the stock is currently owned by insiders.

A number of brokerages have recently commented on SNX. ValuEngine raised shares of SYNNEX from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Citigroup set a $140.00 target price on shares of SYNNEX and gave the company a “buy” rating in a research note on Friday, April 12th. Barrington Research began coverage on shares of SYNNEX in a research note on Thursday, April 4th. They issued an “outperform” rating on the stock. TheStreet downgraded shares of SYNNEX from a “b” rating to a “c+” rating in a research note on Tuesday, April 2nd. Finally, Zacks Investment Research downgraded shares of SYNNEX from a “buy” rating to a “hold” rating in a research note on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. SYNNEX currently has an average rating of “Buy” and an average target price of $123.00.

SYNNEX stock opened at $99.89 on Thursday. SYNNEX Co. has a 12-month low of $71.82 and a 12-month high of $116.47. The firm has a market cap of $5.11 billion, a P/E ratio of 9.17, a PEG ratio of 0.69 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.81.

SYNNEX (NYSE:SNX) last released its quarterly earnings results on Wednesday, March 27th. The business services provider reported $2.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.75 by $0.09. SYNNEX had a net margin of 1.75% and a return on equity of 17.78%. The firm had revenue of $5.25 billion for the quarter, compared to the consensus estimate of $5.29 billion. During the same quarter in the previous year, the firm posted $2.14 EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities analysts expect that SYNNEX Co. will post 11.91 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, April 11th. SYNNEX’s dividend payout ratio (DPR) is 13.77%.

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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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