PNC Financial Services Group Inc. Buys 106 Shares of Synnex Corporation (SNX)

The value of the investment in (SNX) increased from $8,414,000 to $9,231,000 a change of $817,000 quarter over quarter. The fund owned 111,700 shares of the business services provider's stock at the end of the second quarter.

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Other hedge funds and other institutional investors also recently bought and sold shares of the company. World Asset Management Inc boosted its position in shares of Synnex Corporation by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,150,496 shares of the business services provider's stock valued at $352,667,000 after buying an additional 95,341 shares during the period. Can now owns 17,701 shares of the business services provider's stock valued at $1,981,000 after buying an additional 827 shares during the last quarter. Curbstone Fincl Management Corporation holds 0.28% or 3,675 shares in its portfolio. Citigroup Inc. dropped their target price on shares of Synnex Corporation from $130.00 to $122.00 and set a "neutral" rating on the stock in a research report on Friday, June 9th. 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. US Bancorp DE increased its position in Synnex Corporation by 34.3% in the first quarter. The firm purchased 4,852 shares of the business services provider's stock, valued at approximately $543,000. Moreover, Garrison Bradford & Associates Inc has 0.16% invested in the company for 12,500 shares.

Shares of Synnex Corporation (SNX) traded down 0.80% on Thursday, hitting $117.79. 119,596 shares of the stock were exchanged. The company has a market capitalization of $4.64 billion, a P/E ratio of 16.69 and a beta of 1.04. Synnex Corporation has a 52-week low of $100.06 and a 52-week high of $131.35. The stock's 50 day moving average is $120.39 and its 200-day moving average is $115.61.

Analysts await SYNNEX Corporation (NYSE:SNX) to report earnings on September, 25. The business services provider reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks' 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 analysts' expectations of $3.79 billion. Synnex Corporation's revenue for the quarter was up 16.5% on a year-over-year basis. On average, analysts expect that Synnex Corporation will post $8.41 EPS for the current fiscal year. This buyback authorization allows the business services provider to reacquire up to 6.2% of its shares through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were given a dividend of $0.25 per share. The ex-dividend date was set for Wednesday the 12th of July 2017. The dividend payment was $0.250 per share for the quarter which is $1.00 annualized. Synnex Corporation's dividend payout ratio (DPR) is presently 14.35%. "Has $13,400,000 Stake in Synnex Corporation (SNX)" was posted by Transcript Daily and is the property of of Transcript Daily. If you are accessing this story on another site, it was illegally copied and republished in violation of worldwide copyright law. The correct version of this story can be viewed at

SNX has been the topic of several recent research reports. Finally, Raymond James Financial, Inc. raised Synnex Corporation from a "market perform" rating to a "strong-buy" rating and set a $122.00 price objective for the company in a research note on Friday, May 19th. Zacks Investment Research lowered shares of Synnex Corporation from a "buy" rating to a "hold" rating in a research report on Tuesday, May 30th. They noted that the move was a valuation call. Nordea Investment Management AB raised its position in shares of Synnex Corporation by 34.4% in the first quarter. Finally, BidaskClub lowered shares of Synnex Corporation from a "buy" rating to a "hold" rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. The stock has a consensus rating of "Hold" and a consensus price target of $126.67. Following the sale, the chief executive officer now owns 142,311 shares of the company's stock, valued at $16,910,816.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Simon Leung sold 856 shares of the business's stock in a transaction on Thursday, June 1st. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,028 shares of company stock valued at $3,226,618.