Hsbc Holdings PLC Purchases 18,906 Shares of Concentrix Co. (NASDAQ:CNXC)

Hsbc Holdings PLC raised its position in Concentrix Co. (NASDAQ:CNXC) by 120.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,586 shares of the company’s stock after purchasing an additional 18,906 shares during the quarter. Hsbc Holdings PLC’s holdings in Concentrix were worth $2,186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CNXC. Groupe Bruxelles Lambert acquired a new stake in shares of Concentrix in the fourth quarter valued at about $861,662,000. Vanguard Group Inc. increased its stake in shares of Concentrix by 23.9% in the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock valued at $526,788,000 after buying an additional 1,034,546 shares during the period. Pzena Investment Management LLC increased its stake in shares of Concentrix by 246.3% in the first quarter. Pzena Investment Management LLC now owns 1,013,208 shares of the company’s stock valued at $67,095,000 after buying an additional 720,616 shares during the period. Impactive Capital LP increased its stake in shares of Concentrix by 13.0% in the first quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock valued at $254,707,000 after buying an additional 443,045 shares during the period. Finally, Norges Bank acquired a new stake in shares of Concentrix in the fourth quarter valued at about $31,294,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $74.63, for a total value of $29,852.00. Following the completion of the sale, the executive vice president now owns 29,327 shares of the company’s stock, valued at $2,188,674.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Concentrix Trading Down 19.0 %

Shares of Concentrix stock opened at $51.54 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.56 and a current ratio of 1.54. Concentrix Co. has a 52 week low of $51.02 and a 52 week high of $106.10. The stock has a 50 day moving average price of $67.59 and a two-hundred day moving average price of $63.67. The stock has a market capitalization of $3.35 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.67 and a beta of 0.61.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the business posted $2.54 EPS. The company’s revenue was up 46.2% on a year-over-year basis. As a group, equities analysts anticipate that Concentrix Co. will post 10.8 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Bank of America decreased their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday. Canaccord Genuity Group decreased their target price on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Barrington Research decreased their target price on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.25.

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.