Captrust Financial Advisors Decreases Stock Position in Concentrix Co. (NASDAQ:CNXC)

Captrust Financial Advisors lessened its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 12.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,093 shares of the company’s stock after selling 577 shares during the period. Captrust Financial Advisors’ holdings in Concentrix were worth $210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CNXC. SummerHaven Investment Management LLC increased its stake in Concentrix by 2.9% in the second quarter. SummerHaven Investment Management LLC now owns 8,662 shares of the company’s stock worth $548,000 after purchasing an additional 248 shares during the period. First Horizon Advisors Inc. increased its stake 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 purchasing an additional 285 shares during the period. GAMMA Investing LLC increased its stake in Concentrix by 64.9% in the third quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock worth $37,000 after purchasing an additional 287 shares during the period. nVerses Capital LLC grew its position in shares of Concentrix by 10.7% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock worth $196,000 after buying an additional 300 shares in the last quarter. Finally, Fifth Third Bancorp grew its position in shares of Concentrix by 51.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,573 shares of the company’s stock worth $100,000 after buying an additional 536 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Concentrix Trading Down 4.1 %

Concentrix stock opened at $42.31 on Tuesday. The stock has a 50-day moving average of $44.18 and a two-hundred day moving average of $57.48. 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 Co. has a one year low of $36.28 and a one year high of $106.10. The stock has a market cap of $2.74 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the business earned $2.54 earnings per share. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. On average, research analysts anticipate that Concentrix Co. will post 10.18 EPS for the current fiscal year.

Concentrix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were given a dividend of $0.333 per share. This is a boost from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Friday, October 25th. Concentrix’s dividend payout ratio (DPR) is currently 43.18%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Robert W. Baird assumed coverage on Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target on the stock. Bank of America dropped their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Canaccord Genuity Group dropped their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Baird R W raised Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, 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 report on Thursday, September 26th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $79.00.

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 1,544 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.38, for a total value of $79,330.72. Following the sale, the executive vice president now directly owns 27,783 shares of the company’s stock, valued at approximately $1,427,490.54. This trade represents a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Caldwell sold 9,823 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $52.70, for a total value of $517,672.10. Following the completion of the sale, the chief executive officer now directly owns 241,841 shares in the company, valued at approximately $12,745,020.70. The trade was a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,367 shares of company stock worth $641,668. 3.10% 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.