Concentrix Co. (NASDAQ:CNXC) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,201 shares of the company’s stock after selling 1,015 shares during the period. Public Employees Retirement System of Ohio’s holdings in Concentrix were worth $933,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNXC. GAMMA Investing LLC boosted its position in shares of Concentrix by 64.9% during the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock worth $37,000 after purchasing an additional 287 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Concentrix by 54.0% in the second quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock valued at $51,000 after purchasing an additional 285 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in Concentrix during the second quarter worth about $68,000. Quarry LP grew its position in Concentrix by 769.9% during the second quarter. Quarry LP now owns 1,244 shares of the company’s stock worth $79,000 after buying an additional 1,101 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Concentrix by 51.7% in the second quarter. Fifth Third Bancorp now owns 1,573 shares of the company’s stock valued at $100,000 after buying an additional 536 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction 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 in the company, valued at $1,427,490.54. This trade represents a 5.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. Caldwell sold 9,823 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $52.70, for a total value of $517,672.10. Following the sale, the chief executive officer now owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. The trade was a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,367 shares of company stock worth $641,668. 3.10% of the stock is currently owned by insiders.

Concentrix Price Performance

NASDAQ:CNXC opened at $40.38 on Friday. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $106.10. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. The company’s 50-day moving average is $43.79 and its two-hundred day moving average is $57.11.

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

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were given a $0.333 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.30%. This is an increase from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is currently 43.18%.

Analyst Ratings Changes

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

Concentrix 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.