JPMorgan Chase & Co. Sells 24,493 Shares of Concentrix Co. (NASDAQ:CNXC)

JPMorgan Chase & Co. lessened its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 13.6% in the third quarter, HoldingsChannel.com reports. The firm owned 156,130 shares of the company’s stock after selling 24,493 shares during the period. JPMorgan Chase & Co.’s holdings in Concentrix were worth $8,002,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CNXC. GAMMA Investing LLC lifted its stake in Concentrix by 64.9% during the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares in the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Concentrix in the second quarter valued at about $68,000. Quarry LP lifted its position in shares of Concentrix by 769.9% during the second quarter. Quarry LP now owns 1,244 shares of the company’s stock valued at $79,000 after purchasing an additional 1,101 shares in the last quarter. Quest Partners LLC bought a new stake in Concentrix in the 3rd quarter worth about $146,000. Finally, Blue Trust Inc. increased its stake in Concentrix by 62.4% in the 3rd quarter. Blue Trust Inc. now owns 3,132 shares of the company’s stock valued at $161,000 after buying an additional 1,204 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Price Performance

CNXC opened at $46.48 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. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $106.10. The stock’s 50 day simple moving average is $43.25 and its 200 day simple moving average is $55.04. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 0.56 and a beta of 0.63.

Analyst Ratings Changes

CNXC has been the topic of a number of recent analyst reports. Baird R W upgraded Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America cut their price target on shares of 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 shares of Concentrix in a report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective for the company. Barrington Research lowered their price objective on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Finally, Canaccord Genuity Group reduced their target price on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Concentrix presently has a consensus rating of “Buy” and a consensus price target of $79.00.

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.