Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey Sells 500 Shares

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $44.05, for a total value of $22,025.00. Following the completion of the transaction, the executive vice president now owns 23,936 shares in the company, valued at approximately $1,054,380.80. This trade represents a 2.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Concentrix Price Performance

Shares of CNXC stock opened at $43.27 on Wednesday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $2.80 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63. The firm’s 50-day moving average is $42.85 and its two-hundred day moving average is $56.05. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $106.10.

Analysts Set New Price Targets

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

Institutional Trading of Concentrix

Institutional investors have recently made changes to their positions in the company. State Street Corp increased its stake in Concentrix by 1.3% during the third quarter. State Street Corp now owns 1,401,953 shares of the company’s stock worth $71,850,000 after acquiring an additional 18,304 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Concentrix during the 3rd quarter worth $1,243,000. Raymond James & Associates increased its position in shares of Concentrix by 73.3% during the 3rd quarter. Raymond James & Associates now owns 55,313 shares of the company’s stock worth $2,835,000 after purchasing an additional 23,387 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in Concentrix by 24.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company’s stock valued at $3,319,000 after buying an additional 12,870 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Concentrix in the third quarter valued at about $1,255,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.