Concentrix Co. (NASDAQ:CNXC) Shares Sold by XTX Topco Ltd

XTX Topco Ltd cut its position in shares of Concentrix Co. (NASDAQ:CNXC) 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.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.06. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.35 billion. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. Concentrix’s revenue for the quarter was up 47.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.50 earnings per share. Sell-side analysts forecast that Concentrix Co. will post 10.8 EPS for the current fiscal year.

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.

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.