SYNNEX Co. (NYSE:SNX) Shares Sold by PNC Financial Services Group Inc.

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PNC Financial Services Group Inc. reduced its holdings in shares of SYNNEX Co. (NYSE:SNX) by 10.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,111 shares of the business services provider’s stock after selling 359 shares during the period. PNC Financial Services Group Inc.’s holdings in SYNNEX were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. increased its holdings in shares of SYNNEX by 6.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 48,980 shares of the business services provider’s stock valued at $4,672,000 after purchasing an additional 2,881 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of SYNNEX by 10.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,259 shares of the business services provider’s stock valued at $238,000 after purchasing an additional 307 shares during the period. State Street Corp increased its holdings in shares of SYNNEX by 0.4% in the first quarter. State Street Corp now owns 1,006,073 shares of the business services provider’s stock valued at $73,544,000 after purchasing an additional 3,686 shares during the period. Sowell Financial Services LLC increased its holdings in shares of SYNNEX by 2,128.6% in the first quarter. Sowell Financial Services LLC now owns 468 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 447 shares during the period. Finally, Vident Investment Advisory LLC acquired a new position in shares of SYNNEX in the first quarter valued at about $1,178,000. 75.60% of the stock is currently owned by institutional investors.

NYSE:SNX opened at $140.06 on Thursday. The firm has a market cap of $7.21 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.54. The stock has a fifty day moving average price of $127.59 and a 200 day moving average price of $106.52. SYNNEX Co. has a 12-month low of $52.06 and a 12-month high of $153.07. The company has a current ratio of 1.52, a quick ratio of 0.94 and a debt-to-equity ratio of 0.69.

SYNNEX (NYSE:SNX) last released its earnings results on Saturday, October 3rd. The business services provider reported $3.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.26 by $1.07. SYNNEX had a return on equity of 17.29% and a net margin of 2.03%. The firm had revenue of $6.47 billion during the quarter, compared to analyst estimates of $5.70 billion. During the same period last year, the business posted $3.30 earnings per share. SYNNEX’s revenue was up 4.2% compared to the same quarter last year. Equities analysts forecast that SYNNEX Co. will post 10.75 EPS for the current year.

SNX has been the topic of a number of research reports. Citigroup increased their price objective on SYNNEX from $150.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday. They noted that the move was a valuation call. Stifel Nicolaus increased their price objective on SYNNEX from $120.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 26th. Raymond James upped their target price on SYNNEX from $140.00 to $160.00 and gave the stock a “strong-buy” rating in a research note on Wednesday. Barrington Research upped their target price on SYNNEX from $125.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, ValuEngine upgraded SYNNEX from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a sell rating, five have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $152.71.

In related news, Director Dwight Steffensen sold 524 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $121.80, for a total value of $63,823.20. Following the sale, the director now owns 1,570 shares of the company’s stock, valued at approximately $191,226. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kevin M. Murai sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $125.63, for a total value of $577,898.00. Following the completion of the sale, the director now directly owns 11,709 shares in the company, valued at approximately $1,471,001.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,987 shares of company stock worth $4,729,703. 2.80% of the stock is owned by corporate insiders.

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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