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

The fund owned 111,700 shares of the business services provider's stock at the end of the second quarter.

Other institutional investors have also recently bought and sold shares of the company. American International Group Inc claims 76,951 shares worth $9,231,000. Citadel Advisors LLC owns 269,111 shares valued at $32,283,000. Regentatlantic Capital LLC boosted its position in shares of Synnex Corporation by 1.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 5,023 shares of the business services provider's stock worth $562,000 after buying an additional 19 shares in the last quarter.

Dimensional Fund Advisors Lp says it lowered its investment in Synnex Corporation stock by 173,564 shares in its quarterly SEC filing. Oregon Public Employees Retirement Fund now owns 10,168 shares of the business services provider's stock worth $1,138,000 after buying an additional 100 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Synnex Corporation by 0.3% in the first quarter. Stifel Nicolaus now has a $132.00 target price on the business services provider's stock. Institutional investors own 70.97% of the company's stock.

The company is so far trading down since yesterday's close of $116.41.

The company now has a P/E ratio of 16.69 and the market cap is 4.64B.

Synnex Corporation (NYSE:SNX) last posted its earnings results on Thursday, June 22nd. The business services provider reported $2.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.79 by $0.29. Synnex Corporation had a net margin of 1.86% and a return on equity of 16.29%. The firm had revenue of $3.94 billion for the quarter, compared to the consensus estimate of $3.79 billion. The company had a trading volume of 124,599 shares. The business's revenue for the quarter was up 16.5% compared to the same quarter past year. On average, analysts expect that Synnex Corporation will post $8.41 EPS for the current fiscal year.

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 allows the business services provider to reacquire up to 6.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were given a $0.25 dividend. The ex-dividend date was set for Wednesday the 12th of July 2017. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. Synnex Corporation's payout ratio is now 14.35%.

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A number of research firms have weighed in on SNX. Raymond James Financial, Inc. raised shares of Synnex Corporation from a "market perform" rating to a "strong-buy" rating and set a $122.00 price target for the company in a research report on Friday, May 19th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $132.00 price objective on shares of Synnex Corporation in a report on Thursday, August 3rd. They noted that the move was a valuation call.

Tiaa Cref Investment Management LLC bolstered its stake by buying 60,637 shares an increase of 55.6% in the quarter. Finally, BidaskClub lowered shares of 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 issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. On Tuesday, September 27 the stock rating was maintained by Stifel Nicolaus with "Hold". MURAI KEVIN M sold $217,360 worth of SYNNEX Corporation (NYSE:SNX) on Tuesday, May 9. The shares were sold at an average price of $126.00, for a total transaction of $315,000.00. Following the transaction, the chief operating officer now directly owns 35,468 shares in the company, valued at approximately $3,955,036.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The shares were sold at an average price of $112.37, for a total transaction of $96,188.72. Following the completion of the sale, the director now directly owns 14,922 shares in the company, valued at $1,880,172. Simon Leung, Sr VP disclosed the sale of 759 shares of SNX stock. In the last three months, insiders have sold 25,028 shares of company stock worth $2,988,958. The Business's Concentrix segment offers a portfolio of solutions and end-to-end business services focused on customer engagement strategy, process optimization, technology innovation, front and back-office automation and business transformation.

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