Synnex Corporation (NYSE:SNX) Experiences Lighter than Usual Trading Volume
Synnex Corporation (NYSE:SNX) Experiences Lighter than Usual Trading Volume
12 Agosto, 2017, 06:33
DUPONT CAPITAL MANAGEMENT Corp now owns 20,264 shares of the business services provider's stock worth $2,268,000 after buying an additional 12,873 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Synnex Corporation by 0.4% in the first quarter. Citadel Advisors LLC now owns 269,111 shares valued at $32,283,000. Jane Street Group LLC acquired a new position in Synnex Corporation during the first quarter worth about $228,000. Northwestern Mutual Investment Management Company LLC now owns 5,023 shares of the business services provider's stock worth $562,000 after buying an additional 19 shares in the last quarter. First Midwest Bank Trust Division boosted its position in shares of Synnex Corporation by 3.5% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 20,264 shares of the business services provider's stock valued at $2,268,000 after buying an additional 12,873 shares in the last quarter. The firm owned 1,310 shares of the business services provider's stock after buying an additional 106 shares during the period.
Shares of Synnex Corporation (SNX) traded down 0.80% on Thursday, hitting $117.79.
In other news, COO Dennis Polk sold 1,500 shares of the business's stock in a transaction on Thursday, June 1st. The stock has a market cap of $4.74 billion, a PE ratio of 17.04 and a beta of 1.04. Synnex Corporation has a one year low of $100.06 and a one year high of $131.35. The firm's 50-day moving average price is $120.39 and its 200 day moving average price is $115.61.
Synnex Corporation (NYSE:SNX) last posted its quarterly earnings results on Thursday, June 22nd. The business services provider reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $1.79 by $0.29. Synnex Corporation had a return on equity of 16.29% and a net margin of 1.86%. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.79 billion. The stock had a trading volume of 54,380 shares. The business's quarterly revenue was up 16.5% compared to the same quarter past year. On average, equities research analysts forecast that Synnex Corporation will post $8.41 earnings per share for the current year.
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Synnex Corporation declared that its board has initiated a stock buyback program on Thursday, June 22nd that allows the company to repurchase $300.00 million in shares. This buyback authorization allows the business services provider to buy up to 6.2% of its stock through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. The ex-dividend date was set for Wednesday the 12th of July 2017. The dividend was $0.250 per share for the quarter which comes to $1.00 on an annualized basis. Synnex Corporation's dividend payout ratio is now 14.35%.
COPYRIGHT VIOLATION WARNING: This story was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. Sei Investments invested 0.01% in SYNNEX Corporation (NYSE:SNX). If you are viewing this piece on another domain, it was copied illegally and reposted in violation of global copyright & trademark laws. The original version of this report can be accessed at https://www.themarketsdaily.com/2017/08/11/paloma-partners-management-co-buys-shares-of-4852-synnex-corporation-snx-updated-updated-updated.html.
Several research firms recently issued reports on SNX.
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On May 19 the stock rating was upgraded to "Strong Buy" from "Outperform" by analysts at Raymond James. Finally, Zacks Investment Research downgraded shares of Synnex Corporation from a "buy" rating to a "hold" rating in a research report on Tuesday, May 30th. Stifel Nicolaus reissued a "buy" rating and issued a $132.00 price target on shares of Synnex Corporation in a research report on Thursday, August 3rd. They noted that the move was a valuation call. Vanguard Group Inc. boosted its position in Synnex Corporation by 3.1% in the first quarter. The stock of SYNNEX Corporation (NYSE:SNX) earned "Buy" rating by Citigroup on Tuesday, March 29.
Synnex Corporation (NYSE:SNX) CEO Kevin M. Murai sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $126.00, for a total transaction of $315,000.00. Following the completion of the sale, the chief executive officer now directly owns 142,311 shares in the company, valued at $16,708,734.51. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The stock was sold at an average price of $112.37, for a total value of $96,188.72. Following the transaction, the senior vice president now owns 27,078 shares in the company, valued at $3,042,754.86. Simon Leung, Sr VP disclosed the sale of 759 shares of SNX stock. Insiders have sold a total of 27,028 shares of company stock valued at $3,226,618 in the last three months.
Synnex Corporation is a business process services company. The Company provides a range of distribution, logistics and integration services for the technology industry and providing outsourced services focused on customer engagement strategy.
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The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . The institutional investor owned 142,670 shares of the technology company's stock at the end of the first quarter.
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