XTX Topco Ltd cut its position in shares of Concentrix Co. (NASDAQ:CNXC – Free Report) by 41.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,303 shares of the company’s stock after selling 4,459 shares during the period. XTX Topco Ltd’s holdings in Concentrix were worth $399,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNXC. Norges Bank acquired a new stake in Concentrix during the fourth quarter worth about $31,294,000. Corient Private Wealth LLC grew its stake in shares of Concentrix by 48.7% in the fourth quarter. Corient Private Wealth LLC now owns 9,288 shares of the company’s stock valued at $912,000 after buying an additional 3,043 shares in the last quarter. Assetmark Inc. grew its stake in shares of Concentrix by 42.6% in the fourth quarter. Assetmark Inc. now owns 1,514 shares of the company’s stock valued at $149,000 after buying an additional 452 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Concentrix by 143.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 6,720 shares of the company’s stock valued at $652,000 after buying an additional 3,958 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of Concentrix by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 19,466 shares of the company’s stock valued at $1,912,000 after buying an additional 190 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.
Concentrix Trading Down 0.3 %
Shares of CNXC opened at $63.62 on Thursday. The company has a market capitalization of $4.13 billion, a P/E ratio of 14.73, a P/E/G ratio of 0.67 and a beta of 0.61. Concentrix Co. has a one year low of $53.89 and a one year high of $106.10. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.56 and a current ratio of 1.54. The stock has a 50-day moving average price of $67.93 and a 200 day moving average price of $63.76.
Insiders Place Their Bets
In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $74.63, for a total transaction of $29,852.00. Following the transaction, the executive vice president now owns 29,327 shares of the company’s stock, valued at approximately $2,188,674.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 1,200 shares of company stock valued at $82,028 in the last quarter. Insiders own 3.00% of the company’s stock.
Wall Street Analyst Weigh In
CNXC has been the subject of a number of recent research reports. Barrington Research reiterated an “outperform” rating and issued a $84.00 target price on shares of Concentrix in a research note on Friday, September 20th. Canaccord Genuity Group reiterated a “buy” rating and issued a $125.00 target price on shares of Concentrix in a research note on Thursday, June 27th. Finally, Bank of America upgraded Concentrix from an “underperform” rating to a “neutral” rating and increased their target price for the company from $65.00 to $85.00 in a research note on Wednesday, August 28th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.75.
Get Our Latest Report on Concentrix
Concentrix Company Profile
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.
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