Mutual of America Capital Management LLC Sells 1,155 Shares of Concentrix Co. (NASDAQ:CNXC)

Mutual of America Capital Management LLC decreased its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 4.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 28,016 shares of the company’s stock after selling 1,155 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Concentrix were worth $1,855,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of CNXC. First Horizon Advisors Inc. boosted its holdings in Concentrix by 381.7% in the 4th quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares during the period. Pineridge Advisors LLC bought a new stake in Concentrix in the 4th quarter valued at about $35,000. Parkside Financial Bank & Trust boosted its holdings in Concentrix by 146.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock valued at $62,000 after purchasing an additional 374 shares during the period. Blue Trust Inc. boosted its holdings in Concentrix by 29.8% in the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after purchasing an additional 264 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Concentrix by 9.1% in the 4th quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock valued at $145,000 after purchasing an additional 123 shares during the period. Institutional investors own 90.34% of the company’s stock.

Concentrix Price Performance

CNXC stock opened at $69.99 on Friday. The company has a 50 day simple moving average of $62.40 and a 200 day simple moving average of $71.03. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 16.20, a P/E/G ratio of 0.74 and a beta of 0.60. Concentrix Co. has a 1 year low of $53.89 and a 1 year high of $106.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Wednesday, June 26th. The company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.06. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The firm’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. Research analysts anticipate that Concentrix Co. will post 10.8 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, July 26th will be given a dividend of $0.303 per share. This represents a $1.21 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Friday, July 26th. Concentrix’s dividend payout ratio is 28.01%.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $63.21, for a total value of $25,284.00. Following the completion of the transaction, the executive vice president now directly owns 30,127 shares in the company, valued at approximately $1,904,327.67. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Concentrix news, CEO Christopher A. Caldwell purchased 900 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was purchased at an average cost of $54.59 per share, for a total transaction of $49,131.00. Following the transaction, the chief executive officer now owns 239,128 shares in the company, valued at approximately $13,053,997.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $63.21, for a total transaction of $25,284.00. Following the completion of the transaction, the executive vice president now owns 30,127 shares of the company’s stock, valued at $1,904,327.67. The disclosure for this sale can be found here. Insiders sold a total of 1,200 shares of company stock worth $71,800 in the last three months. 3.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CNXC shares. Canaccord Genuity Group reissued a “buy” rating and issued a $125.00 price objective on shares of Concentrix in a report on Thursday, June 27th. Bank of America reaffirmed an “underperform” rating and set a $60.00 price target (down previously from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Scotiabank cut their price target on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $84.00 price target on shares of Concentrix in a report on Friday, June 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.80.

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.