Citigroup Maintains SYNNEX Corporation to Neutral with Price Target $112.00

Brokerage firm Citigroup Maintains its rating on SYNNEX Corporation(NYSE:SNX). In a research note issued to the investors, the brokerage major Raises the price-target to $112.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Sep 27, 2016.

SYNNEX Corporation (SNX) made into the market gainers list on Fridays trading session with the shares advancing 0.58% or 0.66 points. Due to strong positive momentum, the stock ended at $114.11, which is also near the day’s high of $115.2. The stock began the session at $114.38 and the volume stood at 2,34,893 shares. The 52-week high of the shares is $118.8 and the 52 week low is $75.87. The company has a current market capitalization of $4,537 M and it has 3,97,63,867 shares in outstanding.

SYNNEX Corporation(SNX) last announced its earnings results on Sep 26, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $3.67B. Analysts had an estimated revenue of $3.48B. Earnings per share were $1.73. Analysts had estimated an EPS of $1.56.

Several Insider Transactions has been reported to the SEC. On Sep 6, 2016, Dennis Polk (Chief Operating Officer) sold 2,000 shares at $105.90 per share price.Also, On Aug 12, 2016, Duane E Zitzner (director) sold 950 shares at $105.00 per share price.On Jul 8, 2016, Peter Larocque (President, N.A. Distribution) sold 7,000 shares at $94.22 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

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