BNP Paribas Arbitrage SA decreased its holdings in shares of SYNNEX Co. (NYSE:SNX) by 43.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,049 shares of the business services provider’s stock after selling 6,213 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in SYNNEX were worth $953,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in SYNNEX by 48.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,663 shares of the business services provider’s stock worth $226,000 after acquiring an additional 541 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of SYNNEX by 1.4% in the first quarter. New York State Common Retirement Fund now owns 43,445 shares of the business services provider’s stock valued at $5,144,000 after buying an additional 600 shares in the last quarter. Bahl & Gaynor Inc. grew its stake in shares of SYNNEX by 2.5% in the first quarter. Bahl & Gaynor Inc. now owns 28,214 shares of the business services provider’s stock valued at $3,341,000 after buying an additional 690 shares in the last quarter. ING Groep NV grew its stake in shares of SYNNEX by 23.3% in the fourth quarter. ING Groep NV now owns 4,402 shares of the business services provider’s stock valued at $598,000 after buying an additional 831 shares in the last quarter. Finally, Meadow Creek Investment Management LLC grew its stake in shares of SYNNEX by 28.6% in the fourth quarter. Meadow Creek Investment Management LLC now owns 3,978 shares of the business services provider’s stock valued at $541,000 after buying an additional 884 shares in the last quarter. 72.53% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on SNX shares. Zacks Investment Research cut SYNNEX from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Pivotal Research set a $135.00 target price on SYNNEX and gave the stock a “buy” rating in a research note on Monday, April 2nd. Stifel Nicolaus reissued a “hold” rating and set a $140.00 target price (down from $152.00) on shares of SYNNEX in a research note on Monday, April 2nd. Needham & Company LLC reissued a “buy” rating and set a $135.00 target price (down from $151.00) on shares of SYNNEX in a research note on Monday, April 2nd. They noted that the move was a valuation call. Finally, SunTrust Banks reissued a “buy” rating and set a $130.00 target price on shares of SYNNEX in a research note on Tuesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $143.29.
SYNNEX opened at $110.43 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $4.49 billion, a PE ratio of 12.21 and a beta of 0.98. SYNNEX Co. has a fifty-two week low of $93.87 and a fifty-two week high of $141.94. The company has a quick ratio of 0.86, a current ratio of 1.48 and a debt-to-equity ratio of 0.48.
SYNNEX (NYSE:SNX) last issued its quarterly earnings results on Thursday, March 29th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.03. The firm had revenue of $4.55 billion for the quarter, compared to analysts’ expectations of $4.47 billion. SYNNEX had a return on equity of 16.52% and a net margin of 1.46%. The firm’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 EPS. equities research analysts expect that SYNNEX Co. will post 10.21 EPS for the current year.
In other SYNNEX news, Director Thomas S. Wurster sold 600 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was sold at an average price of $110.01, for a total transaction of $66,006.00. Following the transaction, the director now owns 11,426 shares in the company, valued at approximately $1,256,974.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Simon Leung sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $100.64, for a total value of $100,640.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,500 shares of company stock worth $2,014,020 in the last quarter. 3.20% of the stock is currently owned by insiders.
SYNNEX Corporation provides business process services in North and South America, the Asia-Pacific, Europe, and internationally. It operates in two segments, Technology Solutions and Concentrix. The Technology Solutions segment distributes peripherals; information technology systems, including data center server and storage solutions; system components; software; networking/communications/security equipment; consumer electronics; and complementary products.
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