Large Inflow of Money Witnessed in Synnex Corporation

Synnex Corporation (NYSE:SNX) stock had a bullish inflow of $5.41 million worth of trades on uptick and an outflow of $4.19 million in downticks on Wednesday. The total uptick to downtick ratio stood at 1.29. The net money flow into the stock was $1.22 million. The money flow data, which is calculated as the dollar value of composite uptick minus the downtick trades indicated bullish. The block trades had a total money flow of $0.01 million. $0.01 million of block trade during Uptick was observed, which shows continued buying by the smart money on every weakness. However, Synnex Corporation (NYSE:SNX) stock traded down $0.26 , and reached $92.27, a drop of -0.28% over the previous day. On a weekly basis, the stock is -1.88%, over the previous weeks close.


In an insider trading activity,The director officer (Chief Operating Officer) of Synnex Corp, Polk Dennis sold 335 shares at $90.51 on June 1, 2016. The Insider selling transaction had a total value worth of $30,321. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. Currently the company Insiders own 3.4% of Synnex Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -4.22% . Institutional Investors own 77.45% of Synnex Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -11.03%.

The company shares have rallied 25.07% from its 1 Year high price. On Mar 22, 2016, the shares registered one year high at $102.83 and the one year low was seen on Jul 8, 2015. The 50-Day Moving Average price is $89.51 and the 200 Day Moving Average price is recorded at $88.75. Synnex Corporation (NYSE:SNX): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $93.71 and $92.22 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $93.78. The buying momentum continued till the end and the stock did not give up its gains. It closed at $93.01, notching a gain of 0.52% for the day. The total traded volume was 336,883 . The stock had closed at $92.53 on the previous day.

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 Companys 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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