Stock Traders Purchase High Volume of SYNNEX Call Options (NYSE:SNX)

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SYNNEX Co. (NYSE:SNX) was the target of some unusual options trading on Monday. Investors purchased 1,830 call options on the company. This represents an increase of 1,505% compared to the average volume of 114 call options.

In other SYNNEX news, Director Kevin M. Murai sold 4,600 shares of SYNNEX stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $144.62, for a total transaction of $665,252.00. Following the completion of the sale, the director now owns 8,358 shares of the company’s stock, valued at approximately $1,208,733.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Michael Urban sold 350 shares of SYNNEX stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of $145.76, for a total value of $51,016.00. Following the sale, the insider now directly owns 10,610 shares of the company’s stock, valued at approximately $1,546,513.60. The disclosure for this sale can be found here. Insiders sold a total of 23,153 shares of company stock worth $3,352,059 over the last quarter. Company insiders own 2.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors purchased a new position in shares of SYNNEX during the 2nd quarter worth approximately $29,000. NEXT Financial Group Inc acquired a new position in shares of SYNNEX in the 3rd quarter valued at $30,000. Banque Cantonale Vaudoise acquired a new position in shares of SYNNEX in the 3rd quarter valued at $33,000. Signaturefd LLC boosted its holdings in shares of SYNNEX by 35.5% in the 3rd quarter. Signaturefd LLC now owns 286 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 75 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in shares of SYNNEX by 70.9% in the 3rd quarter. Acadian Asset Management LLC now owns 453 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 188 shares during the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on the company. Loop Capital boosted their price objective on SYNNEX from $140.00 to $170.00 in a research note on Wednesday, September 30th. Zacks Investment Research cut SYNNEX from a “hold” rating to a “sell” rating and set a $80.00 price objective on the stock. in a report on Wednesday, December 2nd. Cross Research cut SYNNEX from a “buy” rating to a “hold” rating in a report on Thursday, January 7th. Citigroup upped their price target on SYNNEX from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, September 30th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lowered SYNNEX from a “buy” rating to a “hold” rating and cut their price objective for the stock from $156.00 to $85.00 in a research report on Tuesday, December 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $123.29.

Shares of SNX stock traded up $1.31 during midday trading on Tuesday, reaching $89.00. 3,224 shares of the company traded hands, compared to its average volume of 523,133. The firm’s 50 day simple moving average is $95.99 and its two-hundred day simple moving average is $123.28. SYNNEX has a 1-year low of $21.25 and a 1-year high of $89.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.52 and a quick ratio of 1.02. The firm has a market cap of $4.59 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 1.30 and a beta of 1.51.

SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Monday, January 11th. The business services provider reported $5.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.83 by $1.38. SYNNEX had a net margin of 2.06% and a return on equity of 16.78%. The business had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same period last year, the company posted $4.26 EPS. The company’s revenue was up 12.7% on a year-over-year basis. As a group, research analysts anticipate that SYNNEX will post 12.25 earnings per share for the current fiscal year.

About SYNNEX

SYNNEX Corporation provides business process services in the United States and internationally. 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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