Insider Selling: SYNNEX Co. (NYSE:SNX) SVP Sells $19,557.00 in Stock

SYNNEX Co. (NYSE:SNX) SVP Simon Leung sold 159 shares of SYNNEX stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $123.00, for a total value of $19,557.00. Following the transaction, the senior vice president now directly owns 15,826 shares of the company’s stock, valued at approximately $1,946,598. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Simon Leung also recently made the following trade(s):

  • On Thursday, October 31st, Simon Leung sold 1,000 shares of SYNNEX stock. The stock was sold at an average price of $117.77, for a total transaction of $117,770.00.
  • On Monday, September 30th, Simon Leung sold 1,000 shares of SYNNEX stock. The shares were sold at an average price of $113.02, for a total transaction of $113,020.00.
  • On Wednesday, September 25th, Simon Leung sold 1,000 shares of SYNNEX stock. The shares were sold at an average price of $105.66, for a total transaction of $105,660.00.

Shares of SNX stock traded down $1.74 during trading on Tuesday, hitting $121.49. The company had a trading volume of 11,792 shares, compared to its average volume of 304,969. The company has a quick ratio of 0.96, a current ratio of 1.57 and a debt-to-equity ratio of 0.77. The stock’s 50-day moving average is $119.22 and its two-hundred day moving average is $101.03. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 11.15, a price-to-earnings-growth ratio of 0.94 and a beta of 1.01. SYNNEX Co. has a 52 week low of $72.76 and a 52 week high of $124.72.

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

Several analysts have issued reports on the stock. TheStreet upgraded shares of SYNNEX from a “c+” rating to a “b-” rating in a research note on Friday, September 27th. Barrington Research restated a “buy” rating and set a $118.00 price target on shares of SYNNEX in a research report on Friday, September 20th. ValuEngine lowered shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. 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 report on Tuesday, October 1st. Finally, Bank of America began coverage on SYNNEX in a research note on Friday, September 6th. They set a “buy” rating and a $120.00 price objective for the company. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company. SYNNEX presently has an average rating of “Buy” and an average price target of $128.80.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its holdings in shares of SYNNEX by 1.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,667 shares of the business services provider’s stock worth $754,000 after purchasing an additional 110 shares during the period. CWM LLC raised its position in SYNNEX by 187.3% during the 3rd quarter. CWM LLC now owns 227 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 148 shares during the last quarter. Bank of Montreal Can raised its position in SYNNEX by 16.0% during the 2nd quarter. Bank of Montreal Can now owns 1,327 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 183 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in SYNNEX by 6.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,956 shares of the business services provider’s stock worth $334,000 after buying an additional 186 shares during the period. Finally, Pitcairn Co. lifted its holdings in SYNNEX by 10.9% in the 2nd quarter. Pitcairn Co. now owns 2,377 shares of the business services provider’s stock worth $234,000 after buying an additional 233 shares during the period. 75.68% of the stock is owned by institutional investors.

SYNNEX Company 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.

Further Reading: Balance Sheet

Insider Buying and Selling by Quarter for SYNNEX (NYSE:SNX)

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