Savant Capital LLC Sells 14,597 Shares of Concentrix Co. (NASDAQ:CNXC)

Savant Capital LLC decreased its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 67.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,959 shares of the company’s stock after selling 14,597 shares during the quarter. Savant Capital LLC’s holdings in Concentrix were worth $440,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in CNXC. Hexagon Capital Partners LLC raised its position in shares of Concentrix by 2,992.3% during the second quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock worth $25,000 after acquiring an additional 389 shares during the last quarter. GAMMA Investing LLC boosted its stake in Concentrix by 1,005.0% during the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock worth $28,000 after acquiring an additional 402 shares during the last quarter. Pineridge Advisors LLC bought a new stake in shares of Concentrix in the 4th quarter valued at $35,000. First Horizon Advisors Inc. increased its stake in Concentrix by 54.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after purchasing an additional 285 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Concentrix by 51.7% during the second quarter. Fifth Third Bancorp now owns 1,573 shares of the company’s stock worth $100,000 after acquiring an additional 536 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Price Performance

Concentrix stock opened at $67.61 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21. The stock’s 50 day moving average is $68.67 and its 200-day moving average is $64.21. Concentrix Co. has a 12 month low of $53.89 and a 12 month high of $106.10. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 0.72 and a beta of 0.61.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, June 26th. The company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.06. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business posted $2.50 EPS. The business’s revenue was up 47.4% compared to the same quarter last year. Equities research analysts expect that Concentrix Co. will post 10.8 EPS for the current year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 26th were issued a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, July 26th. Concentrix’s dividend payout ratio (DPR) is currently 28.01%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Barrington Research reissued an “outperform” rating and issued a $84.00 target price on shares of Concentrix in a research report on Friday, June 21st. Canaccord Genuity Group restated a “buy” rating and issued a $125.00 price objective on shares of Concentrix in a report on Thursday, June 27th. Finally, Bank of America raised Concentrix from an “underperform” rating to a “neutral” rating and increased their price target for the company from $65.00 to $85.00 in a research report on Wednesday, August 28th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Concentrix presently has a consensus rating of “Moderate Buy” and an average target price of $94.75.

Insider Buying and Selling

In related news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $63.21, for a total transaction of $25,284.00. Following the completion of the sale, the executive vice president now owns 30,127 shares of the company’s stock, valued at $1,904,327.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 1,200 shares of company stock worth $82,028. Company insiders own 3.00% of the company’s stock.

About Concentrix

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.