Point72 Hong Kong Ltd Purchases Shares of 2,284 SYNNEX Co. (NYSE:SNX)

Point72 Hong Kong Ltd purchased a new stake in SYNNEX Co. (NYSE:SNX) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,284 shares of the business services provider’s stock, valued at approximately $294,000.

A number of other hedge funds have also recently made changes to their positions in SNX. Lyrical Asset Management LP bought a new position in shares of SYNNEX in the fourth quarter worth approximately $162,192,000. AQR Capital Management LLC lifted its stake in shares of SYNNEX by 202.4% in the 4th quarter. AQR Capital Management LLC now owns 417,537 shares of the business services provider’s stock valued at $53,779,000 after purchasing an additional 279,478 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of SYNNEX in the 4th quarter valued at $12,932,000. Mackay Shields LLC acquired a new stake in shares of SYNNEX in the 4th quarter valued at $11,703,000. Finally, SG Capital Management LLC bought a new position in SYNNEX in the 4th quarter worth $11,209,000. Hedge funds and other institutional investors own 76.60% of the company’s stock.

In other SYNNEX news, Director Kevin M. Murai sold 2,500 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $105.09, for a total transaction of $262,725.00. Following the sale, the director now directly owns 10,202 shares of the company’s stock, valued at $1,072,128.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Thomas S. Wurster sold 1,600 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $128.25, for a total transaction of $205,200.00. Following the completion of the sale, the director now directly owns 13,990 shares in the company, valued at $1,794,217.50. The disclosure for this sale can be found here. Insiders have sold 38,452 shares of company stock valued at $5,549,579 in the last 90 days. 2.80% of the stock is currently owned by corporate insiders.

SNX has been the topic of several recent analyst reports. Barrington Research dropped their target price on shares of SYNNEX from $150.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday. Stifel Nicolaus upped their target price on shares of SYNNEX from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Zacks Investment Research upgraded shares of SYNNEX from a “hold” rating to a “strong-buy” rating and set a $153.00 target price on the stock in a research report on Monday, January 13th. Citigroup upped their target price on shares of SYNNEX from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Raymond James reduced their target price on shares of SYNNEX from $165.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $132.29.

NYSE SNX traded down $7.06 during trading hours on Wednesday, hitting $74.00. The company’s stock had a trading volume of 1,081,783 shares, compared to its average volume of 436,063. The stock has a fifty day moving average of $119.47 and a 200 day moving average of $121.11. SYNNEX Co. has a twelve month low of $52.06 and a twelve month high of $153.07. The firm has a market capitalization of $3.83 billion, a P/E ratio of 7.61, a PEG ratio of 0.51 and a beta of 1.05. The company has a quick ratio of 1.06, a current ratio of 1.62 and a debt-to-equity ratio of 0.72.

SYNNEX (NYSE:SNX) last issued its earnings results on Tuesday, March 24th. The business services provider reported $3.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.08 by $0.18. SYNNEX had a net margin of 2.11% and a return on equity of 18.84%. The firm had revenue of $5.26 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the prior year, the firm earned $2.84 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, analysts predict that SYNNEX Co. will post 13.97 earnings per share for the current year.

About SYNNEX

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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