Swiss National Bank Boosts Stock Holdings in SYNNEX Co. (NYSE:SNX)

Swiss National Bank lifted its holdings in SYNNEX Co. (NYSE:SNX) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 97,385 shares of the business services provider’s stock after acquiring an additional 700 shares during the quarter. Swiss National Bank’s holdings in SYNNEX were worth $10,138,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Spire Wealth Management grew its stake in SYNNEX by 4,000.0% in the third quarter. Spire Wealth Management now owns 615 shares of the business services provider’s stock valued at $64,000 after purchasing an additional 600 shares during the last quarter. Islay Capital Management LLC boosted its holdings in shares of SYNNEX by 13.5% in the 3rd quarter. Islay Capital Management LLC now owns 924 shares of the business services provider’s stock valued at $96,000 after buying an additional 110 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of SYNNEX during the 2nd quarter worth approximately $142,000. Lazard Asset Management LLC lifted its position in SYNNEX by 45.3% during the second quarter. Lazard Asset Management LLC now owns 1,183 shares of the business services provider’s stock valued at $144,000 after acquiring an additional 369 shares during the last quarter. Finally, Hilton Capital Management LLC acquired a new stake in SYNNEX in the second quarter valued at approximately $208,000. 86.13% of the stock is currently owned by institutional investors.

In other news, Director Ann F. Vezina sold 1,055 shares of the business’s stock in a transaction that occurred on Friday, October 29th. The stock was sold at an average price of $104.89, for a total value of $110,658.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dennis Polk sold 1,300 shares of the stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $106.82, for a total value of $138,866.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,655 shares of company stock valued at $385,089. Insiders own 3.00% of the company’s stock.

Several analysts have recently commented on SNX shares. Citigroup increased their price objective on SYNNEX from $155.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday. Cross Research raised SYNNEX from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a report on Wednesday. Barrington Research cut their price objective on shares of SYNNEX from $140.00 to $128.00 and set an “outperform” rating on the stock in a report on Thursday, September 30th. Zacks Investment Research cut shares of SYNNEX from a “buy” rating to a “hold” rating and set a $114.00 target price for the company. in a research note on Tuesday, November 30th. Finally, Raymond James upped their price target on shares of SYNNEX from $150.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $145.88.

Shares of SYNNEX stock opened at $106.82 on Friday. SYNNEX Co. has a 1 year low of $80.36 and a 1 year high of $130.93. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.25 and a quick ratio of 1.68. The stock has a market cap of $10.26 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.04 and a beta of 1.71. The firm has a fifty day moving average price of $110.67 and a 200 day moving average price of $114.20.

SYNNEX (NYSE:SNX) last released its quarterly earnings data on Tuesday, January 11th. The business services provider reported $2.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.18. The business had revenue of $15.61 billion during the quarter, compared to analyst estimates of $15.52 billion. SYNNEX had a return on equity of 15.61% and a net margin of 1.25%. The company’s revenue was up 110.6% on a year-over-year basis. During the same quarter last year, the business posted $5.21 EPS. As a group, equities analysts expect that SYNNEX Co. will post 10.1 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 28th. Stockholders of record on Friday, January 21st will be paid a dividend of $0.30 per share. This is a boost from SYNNEX’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, January 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. SYNNEX’s dividend payout ratio (DPR) is presently 12.27%.

SYNNEX Company Profile

TD SYNNEX Corp. engages in the provision of distribution, logistics and integration services for the technology industry. It operates through the following segments: Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals, IT systems including data center server and storage solutions, system components, software, networking equipment, consumer electronics, and complementary products.

Further Reading: Moving Average – How it Helps Investors in Stock Selection

Want to see what other hedge funds are holding SNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYNNEX Co. (NYSE:SNX).

Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

Receive News & Ratings for SYNNEX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYNNEX and related companies with MarketBeat.com's FREE daily email newsletter.