Synnex Corporation (SNX) CEO Kevin M. Murai Sells 2000 Shares

World Asset Management Inc boosted its position in Synnex Corporation by 0.8% in the first quarter. The value of the company's investment in Synnex Corporation went from $9,694,000 to $30,183,000 increasing 211.4% since the last quarter.

Dimensional Fund Advisors Lp sold 173,564 shares in the previous quarter decreasing its holdings in Synnex Corporation by 7.2%. DUPONT CAPITAL MANAGEMENT Corp now owns 20,264 shares of the business services provider's stock worth $2,268,000 after buying an additional 12,873 shares in the last quarter. Can increased its stake in Synnex Corporation by 4.9% in the first quarter. Retirement Systems of Alabama boosted its position in shares of Synnex Corporation by 0.3% in the first quarter. Finally, Oakbrook Investments LLC purchased a new position in shares of Synnex Corporation during the first quarter valued at about $235,000.

Shares of Synnex Corporation (SNX) traded down 0.10% during trading on Friday, hitting $116.29. Moreover, Parametrica Management Ltd has 1.13% invested in the company for 9,418 shares.

It is trading at $116.29 which is a tad under the 50 day moving average which is $120.28 and a bit higher than the 200 day moving average of $115.62.

The P/E ratio is 16.69 and market capitalization is 4.64B.

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Synnex Corporation is a business process services company. The business services provider reported $2.08 EPS for the quarter, beating the Zacks' consensus estimate of $1.79 by $0.29. The firm had revenue of $3.94 billion during the quarter, compared to analysts' expectations of $3.79 billion. Synnex Corporation had a return on equity of 16.29% and a net margin of 1.86%. During the same period in the prior year, the company posted $1.37 earnings per share.

On average, analysts expect that Synnex Corporation will report full-year sales of $4.01 billion for the current financial year, with estimates ranging from $15.73 billion to $15.77 billion.

Synnex Corporation declared that its board has initiated a stock buyback program on Thursday, June 22nd that allows the company to repurchase $300.00 million in shares. This buyback authorization permits the business services provider to buy up to 6.2% of its shares through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued. The company announced a dividend that was paid on Friday July 28th, 2017. Shareholders of record on Friday, July 14th were issued a $0.25 dividend. The dividend was $0.250 per share for the quarter which comes to $1.00 on an annualized basis. The ex-dividend date was Wednesday, July 12th. Synnex Corporation's payout ratio is now 14.35%. If you are accessing this article on another publication, it was copied illegally and republished in violation of worldwide trademark and copyright law. The legal version of this piece can be viewed at https://weekherald.com/2017/08/11/pnc-financial-services-group-inc-increases-position-in-synnex-corporation-snx-updated-updated.html.

Cross Research downgraded the shares of SNX in report on Thursday, March 24 to "Hold" rating.

Tiaa Cref Investment Management LLC bolstered its stake by buying 60,637 shares an increase of 55.6% in the quarter. Zacks Investment Research lowered Synnex Corporation from a buy rating to a hold rating in a research note on Tuesday, May 30th. Finally, Raymond James Financial, Inc. raised shares of Synnex Corporation from a "market perform" rating to a "strong-buy" rating and set a $122.00 target price for the company in a research note on Friday, May 19th. Stifel Nicolaus reissued a "buy" rating and issued a $132.00 price target on shares of Synnex Corporation in a research report on Thursday, August 3rd. BidaskClub downgraded Synnex Corporation from a "buy" rating to a "hold" rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. On Tuesday, September 27 the stock rating was maintained by Stifel Nicolaus with "Hold". The hedge funds in our partner's database now own: 28.31 million shares, down from 29.57 million shares in 2016Q3. The shares were sold at an average price of $117.41, for a total value of $234,820.00. DUPONT CAPITAL MANAGEMENT Corp now owns 20,264 shares of the business services provider's stock valued at $2,268,000 after buying an additional 12,873 shares during the last quarter. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The shares were sold on August 1st for an average price of $119.67. Following the transaction, the director now owns 14,922 shares in the company, valued at approximately $1,880,172. The disclosure for this sale can be found here. Following the sale, the senior vice president now owns 27,078 shares in the company, valued at $3,042,754.86. Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 0% of its portfolio in SYNNEX Corporation (NYSE:SNX).

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