SYNNEX Corporation (SNX) : Causeway Capital Management reduced its stake in SYNNEX Corporation by 53.83% during the most recent quarter end. The investment management company now holds a total of 191,746 shares of SYNNEX Corporation which is valued at $20,054,714 after selling 223,514 shares in SYNNEX Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.SYNNEX Corporation makes up approximately 0.41% of Causeway Capital Management’s portfolio.
Other Hedge Funds, Including , Cubist Systematic Strategies added SNX to its portfolio by purchasing 11,695 company shares during the most recent quarter which is valued at $1,223,180. SYNNEX Corporation makes up approx 0.06% of Cubist Systematic Strategies’s portfolio. Columbia Partners L L C Investment Management sold out all of its stake in SNX during the most recent quarter. The investment firm sold 23,518 shares of SNX which is valued $2,459,748.Dimensional Fund Advisors Lp reduced its stake in SNX by selling 20,135 shares or 0.66% in the most recent quarter. The Hedge Fund company now holds 3,019,741 shares of SNX which is valued at $307,107,660. SYNNEX Corporation makes up approx 0.17% of Dimensional Fund Advisors Lp’s portfolio. Royce Associates Lp added SNX to its portfolio by purchasing 10,713 company shares during the most recent quarter which is valued at $1,119,937. SYNNEX Corporation makes up approx 0.01% of Royce Associates Lp’s portfolio.Sg Americas Securities reduced its stake in SNX by selling 8,709 shares or 84.14% in the most recent quarter. The Hedge Fund company now holds 1,641 shares of SNX which is valued at $166,266.
SYNNEX Corporation opened for trading at $105.91 and hit $106.74 on the upside on Thursday, eventually ending the session at $106.27, with a gain of 0.09% or 0.1 points. The heightened volatility saw the trading volume jump to 1,65,428 shares. Company has a market cap of $4,226 M.
On the company’s financial health, SYNNEX Corporation reported $1.37 EPS for the quarter, based on the information available during the earnings call on Mar 28, 2016. Analyst had a consensus estimate of $1.37. The company had revenue of $3125.60 million for the quarter, compared to analysts expectations of $3272.64 million. The company’s revenue was down -2.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.46 EPS.
Many Wall Street Analysts have commented on SYNNEX Corporation. SYNNEX Corporation was Resumed by Needham to “Hold” on Jun 24, 2016. SYNNEX Corporation was Downgraded by Raymond James to ” Mkt Perform” on Jun 8, 2016. SYNNEX Corporation was Upgraded by Raymond James to ” Outperform” on May 18, 2016.
Synnex Corporation is a business process services company. The Company offers a range of services to resellers retailers and original equipment manufacturers financial and insurance institutions and other industry verticals across the world. The Company’s primary business process services are wholesale information technology (IT) distribution and outsourcing services. The Company operates in two segments: distribution services also known as Technology Solutions and global business services also known as Concentrix. Its Technology Solutions segment distributes peripherals IT systems including data center server and storage solutions system components software networking equipment and consumer electronics. Its Concentrix segment offers a range of solutions and end-to-end business services focused on customer engagement strategy process optimization technology innovation front and back-office automation and business transformation to clients in various industry verticals.