Harbor Capital Advisors Inc. Increases Stock Position in Concentrix Co. (NASDAQ:CNXC)

Harbor Capital Advisors Inc. increased its holdings in Concentrix Co. (NASDAQ:CNXC) by 106.8% in the 3rd quarter, Holdings Channel reports. The fund owned 21,667 shares of the company’s stock after buying an additional 11,188 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Concentrix were worth $1,110,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CNXC. SummerHaven Investment Management LLC lifted its holdings in shares of Concentrix by 2.9% during the second quarter. SummerHaven Investment Management LLC now owns 8,662 shares of the company’s stock valued at $548,000 after purchasing an additional 248 shares during the last quarter. First Horizon Advisors Inc. increased its position in Concentrix by 54.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock valued at $51,000 after buying an additional 285 shares in the last quarter. GAMMA Investing LLC raised its stake in Concentrix by 64.9% during the third quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the last quarter. nVerses Capital LLC raised its stake in Concentrix by 10.7% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock valued at $196,000 after buying an additional 300 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in shares of Concentrix by 2,992.3% in 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. 90.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNXC has been the subject of several recent analyst reports. Canaccord Genuity Group lowered their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Robert W. Baird assumed coverage on shares of Concentrix in a report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 target price for the company. Barrington Research cut their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Bank of America decreased their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Finally, Baird R W upgraded Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $79.00.

Insider Activity

In related news, EVP Cormac J. Twomey sold 1,544 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $51.38, for a total transaction of $79,330.72. Following the completion of the sale, the executive vice president now directly owns 27,783 shares in the company, valued at approximately $1,427,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Cormac J. Twomey sold 400 shares of Concentrix stock in a transaction dated 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 directly owns 29,327 shares of the company’s stock, valued at $2,188,674.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Cormac J. Twomey sold 1,544 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $51.38, for a total value of $79,330.72. Following the transaction, the executive vice president now owns 27,783 shares of the company’s stock, valued at approximately $1,427,490.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,267 shares of company stock valued at $648,945 in the last quarter. 3.10% of the stock is currently owned by insiders.

Concentrix Stock Up 3.4 %

CNXC opened at $43.00 on Thursday. Concentrix Co. has a twelve month low of $41.05 and a twelve month high of $106.10. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. The firm has a 50 day moving average price of $56.67 and a 200-day moving average price of $61.07. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.57 and a beta of 0.61.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.06). Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the company earned $2.54 earnings per share. Concentrix’s quarterly revenue was up 46.2% compared to the same quarter last year. Equities research analysts forecast that Concentrix Co. will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were paid a dividend of $0.333 per share. This is an increase from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, October 25th. Concentrix’s payout ratio is currently 43.18%.

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.