Blue Trust Inc. Purchases 1,780 Shares of Concentrix Co. (NASDAQ:CNXC)

Blue Trust Inc. raised its position in Concentrix Co. (NASDAQ:CNXC) by 1,202.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,928 shares of the company’s stock after purchasing an additional 1,780 shares during the period. Blue Trust Inc.’s holdings in Concentrix were worth $128,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Groupe Bruxelles Lambert bought a new stake in Concentrix in the fourth quarter valued at approximately $861,662,000. Vanguard Group Inc. increased its position in shares of Concentrix by 23.9% during the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock worth $526,788,000 after acquiring an additional 1,034,546 shares in the last quarter. Impactive Capital LP increased its position in shares of Concentrix by 13.0% during the first quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock worth $254,707,000 after acquiring an additional 443,045 shares in the last quarter. Capital International Investors increased its position in shares of Concentrix by 0.3% during the first quarter. Capital International Investors now owns 2,525,762 shares of the company’s stock worth $167,256,000 after acquiring an additional 7,333 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Concentrix by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,397,083 shares of the company’s stock worth $137,213,000 after acquiring an additional 69,081 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CNXC shares. Barrington Research reissued an “outperform” rating and set a $84.00 price objective on shares of Concentrix in a research report on Friday, June 21st. Canaccord Genuity Group reissued a “buy” rating and set a $125.00 price objective on shares of Concentrix in a research report on Thursday, June 27th. Finally, Scotiabank lowered their price objective on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a research report on Monday, April 29th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $84.80.

Concentrix Stock Up 3.4 %

Concentrix stock opened at $68.64 on Tuesday. The company has a market cap of $4.48 billion, a P/E ratio of 15.89, a price-to-earnings-growth ratio of 0.68 and a beta of 0.61. Concentrix Co. has a 1-year low of $53.89 and a 1-year high of $106.10. The company has a fifty day simple moving average of $64.79 and a 200 day simple moving average of $65.54. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21.

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

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Shareholders of record on Friday, July 26th were paid a $0.303 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend was Friday, July 26th. Concentrix’s dividend payout ratio is currently 28.01%.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $67.23, for a total value of $26,892.00. Following the completion of the sale, the executive vice president now owns 29,727 shares in the company, valued at $1,998,546.21. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,200 shares of company stock worth $76,688 over the last quarter. 3.00% of the stock is currently owned by 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.