Bailard Inc. Takes Position in SYNNEX Co. (SNX)

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Bailard Inc. acquired a new position in shares of SYNNEX Co. (NYSE:SNX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,500 shares of the business services provider’s stock, valued at approximately $531,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Townsend & Associates Inc acquired a new position in shares of SYNNEX during the second quarter worth $108,000. Cornerstone Wealth Management LLC acquired a new position in shares of SYNNEX during the second quarter worth $131,000. Integre Asset Management LLC lifted its position in shares of SYNNEX by 54.5% during the first quarter. Integre Asset Management LLC now owns 1,700 shares of the business services provider’s stock worth $201,000 after purchasing an additional 600 shares in the last quarter. Csenge Advisory Group acquired a new position in shares of SYNNEX during the first quarter worth $229,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of SYNNEX by 332.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,400 shares of the business services provider’s stock worth $285,000 after purchasing an additional 1,845 shares in the last quarter. Institutional investors own 73.12% of the company’s stock.

A number of research analysts have recently commented on SNX shares. Zacks Investment Research cut shares of SYNNEX from a “hold” rating to a “sell” rating in a research report on Wednesday, May 30th. Pivotal Research reduced their target price on shares of SYNNEX from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, June 29th. Cross Research cut shares of SYNNEX from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. ValuEngine cut shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 26th. Finally, Stifel Nicolaus reduced their target price on shares of SYNNEX from $140.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday, June 29th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $141.14.

SNX opened at $96.24 on Tuesday. The firm has a market capitalization of $3.76 billion, a P/E ratio of 11.01 and a beta of 0.89. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.91 and a current ratio of 1.49. SYNNEX Co. has a 12-month low of $93.80 and a 12-month high of $141.94.

SYNNEX (NYSE:SNX) last posted its quarterly earnings results on Thursday, June 28th. The business services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.08. The firm had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.66 billion. SYNNEX had a net margin of 1.49% and a return on equity of 16.69%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 earnings per share. equities research analysts anticipate that SYNNEX Co. will post 10.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 27th. Investors of record on Friday, July 13th were issued a $0.35 dividend. The ex-dividend date was Thursday, July 12th. This represents a $1.40 annualized dividend and a yield of 1.45%. SYNNEX’s dividend payout ratio is presently 15.80%.

In related news, SVP Simon Leung sold 1,000 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $107.92, for a total value of $107,920.00. Following the sale, the senior vice president now directly owns 21,876 shares of the company’s stock, valued at $2,360,857.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dennis Polk sold 2,000 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $107.37, for a total transaction of $214,740.00. Following the completion of the sale, the chief executive officer now directly owns 25,295 shares in the company, valued at $2,715,924.15. The disclosure for this sale can be found here. Insiders sold 8,757 shares of company stock worth $880,423 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

SYNNEX Company Profile

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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Institutional Ownership by Quarter for SYNNEX (NYSE:SNX)

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