Parametrica Management Ltd buys $633,602 stake in SYNNEX Corporation (SNX)

SYNNEX Corporation (SNX) : Parametrica Management Ltd scooped up 2,274 additional shares in SYNNEX Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 13, 2016. The investment management firm now holds a total of 5,974 shares of SYNNEX Corporation which is valued at $633,602.SYNNEX Corporation makes up approximately 1.79% of Parametrica Management Ltd’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in SNX in the latest quarter, The investment management firm added 1,826 additional shares and now holds a total of 1,828 shares of SYNNEX Corporation which is valued at $193,878. SYNNEX Corporation makes up approx 0.01% of Msi Financial Services Inc’s portfolio.Creative Planning reduced its stake in SNX by selling 299 shares or 75.31% in the most recent quarter. The Hedge Fund company now holds 98 shares of SNX which is valued at $10,587.Oregon Public Employees Retirement Fund reduced its stake in SNX by selling 4,322 shares or 30.46% in the most recent quarter. The Hedge Fund company now holds 9,868 shares of SNX which is valued at $1,093,374. SYNNEX Corporation makes up approx 0.02% of Oregon Public Employees Retirement Fund’s portfolio.Cutler Group Lp boosted its stake in SNX in the latest quarter, The investment management firm added 122 additional shares and now holds a total of 280 shares of SYNNEX Corporation which is valued at $31,024.

SYNNEX Corporation closed down -2.77 points or -2.50% at $108.03 with 2,40,029 shares getting traded on Tuesday. Post opening the session at $110.46, the shares hit an intraday low of $107.55 and an intraday high of $110.46 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, SYNNEX Corporation reported $1.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Sep 26, 2016. Analyst had a consensus of $1.55. The company had revenue of $3669.80 million for the quarter, compared to analysts expectations of $3489.46 million. The company’s revenue was up 10.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 EPS.

Many Wall Street Analysts have commented on SYNNEX Corporation. Company shares were Reiterated by Stifel on Sep 27, 2016 to “Hold”, Firm has raised the Price Target to $ 104 from a previous price target of $98 .

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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