Thrivent Financial For Lutherans Acquires 470 Shares of Synnex Corporation (SNX)

PNC Financial Services Group Inc. boosted its stake in Synnex Corporation (NYSE:SNX) by 8.8% during the first quarter, according to its most recent 13F filing with the SEC. Moreover, Parametrica Management Ltd has 1.13% invested in the company for 9,418 shares. Thrivent Financial For Lutherans' holdings in Synnex Corporation were worth $616,000 at the end of the most recent reporting period.

Other firms have also shifted positions in (SNX). American International Group Inc claims 76,951 shares worth $9,231,000. First Midwest Bank Trust Division now owns 4,547 shares of the business services provider's stock valued at $509,000 after buying an additional 155 shares during the last quarter. Jane Street Group LLC acquired a new position in Synnex Corporation during the first quarter worth about $228,000. Citadel Advisors LLC owns 269,111 shares valued at $32,283,000. DUPONT CAPITAL MANAGEMENT Corp raised its position in Synnex Corporation by 174.2% in the first quarter. Oakbrook Investments LLC now owns 2,150 shares of the business services provider's stock valued at $258,000 after buying an additional 50 shares during the last quarter. It dived, as 28 investors sold SYNNEX Corporation shares while 85 reduced holdings. Nordea Investment Management AB now owns 13,840 shares of the business services provider's stock worth $1,549,000 after buying an additional 3,542 shares in the last quarter. Vanguard Group Inc. boosted its position in Synnex Corporation by 3.1% in the first quarter. During the same quarter in the prior year, the company earned $1.37 earnings per share.

Synnex Corporation shares had a trading volume of 119K in the last trading session. During the same quarter in the previous year, the company posted $1.37 earnings per share.

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 company has market cap of $4.74 billion.

CLSA downgraded SYNNEX Corporation (NYSE:SNX) on Thursday, October 29 to "Underperform" rating. The business services provider reported $2.08 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $1.79 by $0.29. 1,500 SYNNEX Corporation (NYSE:SNX) shares with value of $167,955 were sold by POLK DENNIS. The firm had revenue of $3.94 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period a year ago, the firm posted $1.37 EPS. Synnex Corporation's revenue was up 16.5% compared to the same quarter a year ago. On average, equities research analysts predict that Synnex Corporation will post $8.41 EPS for the current year.

Synnex Corporation declared that its board has approved a share repurchase plan on Thursday, June 22nd that allows the company to buyback $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 buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a $0.25 dividend. The dividend payment was $0.250 per share for the quarter or $1.00 on an annualized basis. This dividend represents a yield of $0.84.

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SNX has been the topic of several research analyst reports. Stifel Nicolaus reaffirmed a "buy" rating and set a $128.00 price objective (up previously from $120.00) on shares of Synnex Corporation in a research report on Friday, June 9th. Zacks Investment Research cut shares of Synnex Corporation from a "buy" rating to a "hold" rating in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. On Tuesday, September 27 the stock rating was maintained by Stifel Nicolaus with "Hold". The stock was sold at an average price of $125.00, for a total value of $39,750.00. Following the transaction, the senior vice president now owns 25,053 shares in the company, valued at approximately $3,000,597.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin M. Murai sold 2,000 shares of the company's stock in a transaction dated Tuesday, August 8th. The shares were sold on August 1st for an average price of $119.67. Following the completion of the sale, the chief executive officer now directly owns 142,311 shares in the company, valued at $16,708,734.51. Simon Leung, Sr VP disclosed the sale of 759 shares of SNX stock. Over the last three months, insiders have sold 27,028 shares of company stock worth $3,226,618. Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 0% of its portfolio in SYNNEX Corporation (NYSE:SNX).

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