Blue Trust Inc. Sells 341 Shares of Concentrix Co. (NASDAQ:CNXC)

Blue Trust Inc. cut its holdings in Concentrix Co. (NASDAQ:CNXC) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,791 shares of the company’s stock after selling 341 shares during the period. Blue Trust Inc.’s holdings in Concentrix were worth $121,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CNXC. Impact Partnership Wealth LLC bought a new stake in shares of Concentrix in the fourth quarter worth about $323,000. Harbor Capital Advisors Inc. raised its holdings in Concentrix by 46.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 31,756 shares of the company’s stock worth $1,374,000 after purchasing an additional 10,089 shares in the last quarter. First Hawaiian Bank lifted its position in shares of Concentrix by 51.3% in the 4th quarter. First Hawaiian Bank now owns 13,619 shares of the company’s stock worth $589,000 after purchasing an additional 4,619 shares during the period. Nordea Investment Management AB boosted its stake in shares of Concentrix by 43.9% during the 4th quarter. Nordea Investment Management AB now owns 70,654 shares of the company’s stock valued at $3,076,000 after purchasing an additional 21,568 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Concentrix during the third quarter valued at about $445,000. Institutional investors own 90.34% of the company’s stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group lowered their price objective on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Concentrix presently has a consensus rating of “Buy” and a consensus price target of $75.00.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the sale, the executive vice president now directly owns 41,111 shares of the company’s stock, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 1,500 shares of company stock valued at $72,400. 3.10% of the stock is owned by insiders.

Concentrix Stock Down 1.3 %

NASDAQ:CNXC opened at $48.07 on Friday. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $86.25. The company has a market capitalization of $3.10 billion, a PE ratio of 12.96, a P/E/G ratio of 0.72 and a beta of 0.66. The firm’s 50-day moving average price is $46.40 and its 200-day moving average price is $53.26. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.44 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.36 earnings per share. On average, equities analysts predict that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, January 31st. Concentrix’s payout ratio is currently 35.85%.

About Concentrix

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.