ARP Americas LP Reduces Holdings in SYNNEX Co. (NYSE:SNX)

ARP Americas LP trimmed its stake in SYNNEX Co. (NYSE:SNX) by 56.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,546 shares of the business services provider’s stock after selling 3,254 shares during the period. ARP Americas LP’s holdings in SYNNEX were worth $305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Jacobi Capital Management LLC boosted its stake in SYNNEX by 3,039.1% during the 2nd quarter. Jacobi Capital Management LLC now owns 7,063 shares of the business services provider’s stock worth $27,000 after purchasing an additional 6,838 shares during the period. Sowell Financial Services LLC boosted its stake in SYNNEX by 2,128.6% during the 1st quarter. Sowell Financial Services LLC now owns 468 shares of the business services provider’s stock worth $34,000 after purchasing an additional 447 shares during the period. Cognios Capital LLC acquired a new stake in SYNNEX during the 1st quarter worth $46,000. Cutler Group LP acquired a new stake in SYNNEX during the 1st quarter worth $50,000. Finally, Optimum Investment Advisors boosted its stake in SYNNEX by 4,166.7% during the 2nd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $61,000 after purchasing an additional 500 shares during the period. 74.91% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE SNX traded up $0.53 during midday trading on Friday, hitting $124.74. The company had a trading volume of 255,446 shares, compared to its average volume of 334,345. The company has a quick ratio of 0.94, a current ratio of 1.52 and a debt-to-equity ratio of 0.69. SYNNEX Co. has a twelve month low of $52.06 and a twelve month high of $153.07. The business has a 50-day simple moving average of $114.51 and a two-hundred day simple moving average of $109.58. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 1.24 and a beta of 1.52.

SYNNEX (NYSE:SNX) last announced its quarterly earnings data on Thursday, June 25th. The business services provider reported $1.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.77) by $2.60. SYNNEX had a net margin of 2.03% and a return on equity of 17.29%. The firm had revenue of $5.53 billion during the quarter, compared to analysts’ expectations of $5.17 billion. During the same quarter last year, the business earned $2.86 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities analysts forecast that SYNNEX Co. will post 10.75 EPS for the current year.

In other SYNNEX news, CFO Marshall Witt sold 284 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $119.20, for a total transaction of $33,852.80. Following the completion of the transaction, the chief financial officer now directly owns 14,613 shares in the company, valued at approximately $1,741,869.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Simon Leung sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $100.21, for a total transaction of $200,420.00. Following the transaction, the senior vice president now owns 16,381 shares of the company’s stock, valued at $1,641,540.01. The disclosure for this sale can be found here. Insiders sold 27,571 shares of company stock valued at $3,240,211 in the last quarter. Company insiders own 2.80% of the company’s stock.

A number of analysts recently weighed in on SNX shares. ValuEngine cut shares of SYNNEX from a “sell” rating to a “strong sell” rating in a research note on Monday, May 18th. Zacks Investment Research upgraded shares of SYNNEX from a “sell” rating to a “strong-buy” rating and set a $111.00 target price for the company in a research note on Wednesday, May 27th. Barrington Research raised their target price on shares of SYNNEX from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, June 26th. Stifel Nicolaus raised their target price on shares of SYNNEX from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. Finally, Loop Capital raised their target price on shares of SYNNEX from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, June 26th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $130.86.

SYNNEX Company Profile

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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