A number of other large investors have also modified their holdings of the company. World Asset Management Inc boosted its position in shares of Synnex Corporation by 0.8% in the first quarter. As of quarter end American International Group Inc had bought a total of 1,789 shares growing its stake by 2.4%. Hennessy Advisors Inc trimmed its holdings by selling 12,600 shares a decrease of 4.1% as of 06/30/2017. Citadel Advisors LLC now owns 269,111 shares valued at $32,283,000. Jane Street Group LLC acquired a new stake in Synnex Corporation during the first quarter valued at approximately $228,000. Tiaa Cref Investment Management LLC now controls 169,789 shares valued at $20,368,000. Oregon Public Employees Retirement Fund boosted its position in Synnex Corporation by 1.0% in the first quarter. 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 in the last quarter. DUPONT CAPITAL MANAGEMENT Corp boosted its position in Synnex Corporation by 174.2% in the first quarter. Stifel Nicolaus now has a $132.00 target price on the business services provider's stock. Hedge funds and other institutional investors own 70.97% of the company's stock. About shares traded. SYNNEX Corporation (NYSE:SNX) has risen 29.93% since August 10, 2016 and is uptrending.
In other news, Director Andrea M. Zulberti sold 2,500 shares of Synnex Corporation stock in a transaction dated Tuesday, June 27th. The company has a market capitalization of $4.64 billion, a P/E ratio of 16.69 and a beta of 1.04. The stock of SYNNEX Corporation (NYSE:SNX) has "Underperform" rating given on Wednesday, March 23 by Raymond James. The stock has a 50-day moving average price of $120.39 and a 200 day moving average price of $115.66.
Synnex Corporation (NYSE:SNX) last issued its earnings results on Thursday, June 22nd. The business services provider reported $2.08 EPS for the quarter, beating the Zacks' 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 during the quarter, compared to the consensus estimate of $3.79 billion. The stock had a trading volume of 54,380 shares.
Synnex Corporation declared that its board has initiated a stock repurchase program on Thursday, June 22nd that permits the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the business services provider to buy up to 6.2% of its stock through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.
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The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. Meeder Asset Mgmt has invested 0.02% in SYNNEX Corporation (NYSE:SNX).
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SNX has been the subject of several recent research reports. Zacks Investment Research cut Synnex Corporation from a "buy" rating to a "hold" rating in a research report on Tuesday, May 30th. Stifel Nicolaus restated a "buy" rating and issued a $128.00 price objective (up from $120.00) on shares of Synnex Corporation in a research report on Friday, June 9th. They noted that the move was a valuation call. Finally, First Midwest Bank Trust Division increased its stake in Synnex Corporation by 3.5% in the first quarter. BidaskClub raised Synnex Corporation from a hold rating to a buy rating in a research note on Tuesday, June 13th. 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. The total value of its holdings increased 12.1%. Following the sale, the chief executive officer now owns 142,311 shares of the company's stock, valued at $16,708,734.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The stock was sold at an average price of $112.37, for a total value of $96,188.72. Following the transaction, the senior vice president now owns 25,053 shares in the company, valued at approximately $3,000,597.81. Simon Leung, Sr VP disclosed the sale of 759 shares of SNX stock. During the same quarter in the previous year, the company posted $1.37 earnings per share. Zurcher Kantonalbank (Zurich Cantonalbank) stated it has 0% of its portfolio in SYNNEX Corporation (NYSE:SNX).
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