Federated Investors Inc. PA Raises Stake in SYNNEX Co. (NYSE:SNX)

Federated Investors Inc. PA boosted its position in SYNNEX Co. (NYSE:SNX) by 84.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,461 shares of the business services provider’s stock after purchasing an additional 72,092 shares during the period. Federated Investors Inc. PA owned approximately 0.31% of SYNNEX worth $15,021,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Private Capital Group LLC bought a new stake in shares of SYNNEX during the first quarter valued at approximately $25,000. JOYN Advisors Inc. increased its holdings in SYNNEX by 375.0% during the fourth quarter. JOYN Advisors Inc. now owns 380 shares of the business services provider’s stock valued at $31,000 after buying an additional 300 shares during the period. Sage Capital Advisors llc purchased a new position in SYNNEX during the fourth quarter valued at approximately $40,000. Optimum Investment Advisors increased its holdings in SYNNEX by 5,000.0% during the first quarter. Optimum Investment Advisors now owns 612 shares of the business services provider’s stock valued at $58,000 after buying an additional 600 shares during the period. Finally, Investors Research Corp purchased a new position in SYNNEX during the first quarter valued at approximately $68,000. 77.45% of the stock is owned by institutional investors and hedge funds.

In related news, Director Kevin M. Murai sold 5,000 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $103.51, for a total transaction of $517,550.00. Following the completion of the transaction, the director now owns 19,362 shares in the company, valued at approximately $2,004,160.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Marshall Witt sold 600 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $108.28, for a total transaction of $64,968.00. Following the transaction, the chief financial officer now owns 16,493 shares of the company’s stock, valued at approximately $1,785,862.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,953 shares of company stock valued at $2,088,494. Insiders own 3.20% of the company’s stock.

Shares of SNX traded up $2.40 during trading hours on Monday, reaching $100.80. 536,900 shares of the company traded hands, compared to its average volume of 402,669. The company has a market capitalization of $5.04 billion, a PE ratio of 9.26, a P/E/G ratio of 0.68 and a beta of 1.00. The stock has a fifty day simple moving average of $94.42. SYNNEX Co. has a 12-month low of $71.82 and a 12-month high of $109.62. The company has a quick ratio of 0.99, a current ratio of 1.57 and a debt-to-equity ratio of 0.79.

SYNNEX (NYSE:SNX) last posted its earnings results on Tuesday, June 25th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.15. The company had revenue of $5.72 billion during the quarter, compared to the consensus estimate of $5.53 billion. SYNNEX had a net margin of 1.79% and a return on equity of 17.65%. On average, analysts anticipate that SYNNEX Co. will post 12.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a $1.50 dividend on an annualized basis and a yield of 1.49%. SYNNEX’s dividend payout ratio is presently 13.77%.

Several equities analysts recently issued reports on the stock. Barrington Research reissued a “buy” rating and set a $118.00 price objective on shares of SYNNEX in a report on Sunday. Zacks Investment Research raised shares of SYNNEX from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a report on Friday. ValuEngine lowered shares of SYNNEX from a “hold” rating to a “sell” rating in a report on Monday, May 13th. Citigroup set a $140.00 price target on shares of SYNNEX and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, TheStreet lowered shares of SYNNEX from a “b” rating to a “c+” rating in a report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $122.57.

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.

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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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