Insider Selling: SYNNEX Co. (NYSE:SNX) Director Sells 111 Shares of Stock

Last updated on Monday, July 26, 2021 | 2021 MarketBeat

SYNNEX Co. (NYSE:SNX) Director Dwight Steffensen sold 111 shares of the firm's stock in a transaction dated Friday, July 23rd. The shares were sold at an average price of $116.75, for a total value of $12,959.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Dwight Steffensen also recently made the following trade(s):

  • On Tuesday, July 20th, Dwight Steffensen sold 300 shares of SYNNEX stock. The shares were sold at an average price of $113.78, for a total value of $34,134.00.

Shares of NYSE:SNX traded up $1.16 during mid-day trading on Monday, reaching $118.27. 3,384 shares of the stock were exchanged, compared to its average volume of 325,235. The company has a current ratio of 1.70, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $6.14 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.37 and a beta of 1.72. SYNNEX Co. has a one year low of $49.24 and a one year high of $130.55. The business's 50 day moving average price is $121.71.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Wednesday, June 23rd. The business services provider reported $2.09 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.93 by $0.16. The firm had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $4.96 billion. SYNNEX had a return on equity of 19.97% and a net margin of 2.15%. The business's revenue was up 31.0% compared to the same quarter last year. During the same period last year, the company earned $1.26 earnings per share. As a group, research analysts forecast that SYNNEX Co. will post 8.14 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Friday, July 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, July 15th. This represents a $0.80 dividend on an annualized basis and a yield of 0.68%. SYNNEX's dividend payout ratio is 5.85%.

A number of hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its stake in SYNNEX by 2.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 14,028 shares of the business services provider's stock valued at $1,708,000 after purchasing an additional 348 shares in the last quarter. Raymond James Trust N.A. bought a new position in shares of SYNNEX during the 2nd quarter worth approximately $258,000. New Mexico Educational Retirement Board boosted its stake in shares of SYNNEX by 19.4% during the 2nd quarter. New Mexico Educational Retirement Board now owns 8,602 shares of the business services provider's stock worth $1,047,000 after acquiring an additional 1,400 shares during the period. Principal Financial Group Inc. boosted its stake in shares of SYNNEX by 11.4% during the 1st quarter. Principal Financial Group Inc. now owns 392,998 shares of the business services provider's stock worth $45,132,000 after acquiring an additional 40,236 shares during the period. Finally, One Wealth Advisors LLC boosted its stake in shares of SYNNEX by 8.1% during the 1st quarter. One Wealth Advisors LLC now owns 2,990 shares of the business services provider's stock worth $343,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 76.18% of the company's stock.

Several equities analysts have weighed in on the company. Barrington Research increased their target price on SYNNEX from $130.00 to $140.00 and gave the company an "outperform" rating in a research note on Monday, June 28th. Raymond James increased their target price on SYNNEX from $125.00 to $140.00 and gave the company a "strong-buy" rating in a research note on Friday, June 25th. raised their price target on SYNNEX from $120.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, May 24th. Finally, Citigroup reaffirmed a "buy" rating and set a $155.00 price target (up previously from $120.00) on shares of SYNNEX in a research report on Monday, May 24th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of "Buy" and an average target price of $131.00.

About SYNNEX

SYNNEX Corporation provides business process services in the United States and internationally. The company distributes peripherals; and information technology systems, including system components, software, networking, communications and security equipment, consumer electronics, and complementary products, as well as designs and integrates data center equipment.

Featured Article: What is Forex?

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Should you invest $1,000 in SYNNEX right now?

Before you consider SYNNEX, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SYNNEX wasn't on the list.

While SYNNEX currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.