Regal Investment Advisors LLC Sells 409 Shares of Concentrix Co. (NASDAQ:CNXC)

Regal Investment Advisors LLC reduced its position in shares of Concentrix Co. (NASDAQ:CNXC) by 9.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,068 shares of the company’s stock after selling 409 shares during the quarter. Regal Investment Advisors LLC’s holdings in Concentrix were worth $257,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Groupe Bruxelles Lambert bought a new stake in shares of Concentrix in the 4th quarter valued at about $861,662,000. Vanguard Group Inc. raised its stake in 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. Impactive Capital LP lifted its position 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 last quarter. Capital International Investors lifted its position in shares of Concentrix by 0.3% in the first quarter. Capital International Investors now owns 2,525,762 shares of the company’s stock valued at $167,256,000 after buying an additional 7,333 shares during the last quarter. Finally, Pzena Investment Management LLC boosted its stake in shares of Concentrix by 46.6% during the 2nd quarter. Pzena Investment Management LLC now owns 1,484,907 shares of the company’s stock worth $93,965,000 after acquiring an additional 471,699 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Barrington Research dropped their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Bank of America cut their target price on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. Finally, Canaccord Genuity Group decreased their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.25.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $51.70 on Thursday. Concentrix Co. has a one year low of $50.23 and a one year high of $106.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.56. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 0.55 and a beta of 0.61. The stock’s fifty day moving average price is $66.40 and its two-hundred day moving average price is $63.36.

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

Concentrix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Friday, October 25th will be paid a $0.333 dividend. This is a boost from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Friday, October 25th. Concentrix’s payout ratio is 30.79%.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of Concentrix stock in a transaction 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 transaction, the executive vice president now directly owns 29,327 shares of the company’s stock, valued at approximately $2,188,674.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Cormac J. Twomey sold 400 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 29,327 shares in the company, valued at $2,188,674.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cormac J. Twomey sold 1,544 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $51.38, for a total value of $79,330.72. Following the completion of the transaction, the executive vice president now directly owns 27,783 shares of the company’s stock, valued at approximately $1,427,490.54. The disclosure for this sale can be found here. Insiders have sold 2,344 shares of company stock valued at $136,075 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

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.