Concentrix Co. (NASDAQ:CNXC) Holdings Decreased by Fmr LLC

Fmr LLC cut its position in shares of Concentrix Co. (NASDAQ:CNXC) by 24.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,598,858 shares of the company’s stock after selling 1,780,179 shares during the quarter. Fmr LLC owned 8.64% of Concentrix worth $286,941,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNXC. Hexagon Capital Partners LLC grew its holdings in shares of Concentrix by 2,992.3% during the second quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock valued at $25,000 after purchasing an additional 389 shares during the last quarter. GAMMA Investing LLC grew its stake in Concentrix by 1,005.0% during the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock worth $28,000 after buying an additional 402 shares during the last quarter. First Horizon Advisors Inc. increased its position in Concentrix by 54.0% in the second quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after buying an additional 285 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in Concentrix in the second quarter worth $68,000. Finally, Quarry LP lifted its stake in Concentrix by 769.9% in the second quarter. Quarry LP now owns 1,244 shares of the company’s stock valued at $79,000 after buying an additional 1,101 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Christopher A. Caldwell sold 9,823 shares of the company’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $52.70, for a total transaction of $517,672.10. Following the completion of the sale, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at $12,745,020.70. This represents a 3.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction dated Monday, September 30th. The stock was 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 in the company, valued at $1,427,490.54. This represents a 5.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,867 shares of company stock worth $619,093. 3.10% of the stock is owned by insiders.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $44.95 on Monday. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $106.10. The firm has a market cap of $2.91 billion, a P/E ratio of 14.59, a PEG ratio of 0.62 and a beta of 0.61. The stock has a fifty day moving average price of $46.48 and a two-hundred day moving average price of $58.92. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.57.

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

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were paid a dividend of $0.333 per share. The ex-dividend date of this dividend was Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 annualized dividend and a yield of 2.96%. Concentrix’s dividend payout ratio is currently 43.18%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CNXC shares. Canaccord Genuity Group dropped their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Bank of America cut their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Robert W. Baird began coverage on Concentrix in a report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price objective for the company. Baird R W raised Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Barrington Research decreased their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $79.00.

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.