Concentrix Co. (NASDAQ:CNXC) Shares Sold by Capital International Inc. CA

Capital International Inc. CA trimmed its stake in Concentrix Co. (NASDAQ:CNXC) by 3.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,377 shares of the company’s stock after selling 293 shares during the period. Capital International Inc. CA’s holdings in Concentrix were worth $489,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its position in Concentrix by 78.3% in the fourth quarter. Russell Investments Group Ltd. now owns 102,454 shares of the company’s stock valued at $10,062,000 after purchasing an additional 44,979 shares during the period. Phocas Financial Corp. acquired a new position in Concentrix during the 4th quarter worth about $3,604,000. Copeland Capital Management LLC purchased a new position in Concentrix during the 4th quarter valued at about $40,339,000. Blue Trust Inc. grew its position in Concentrix by 29.8% in the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after acquiring an additional 264 shares in the last quarter. Finally, Valley Wealth Managers Inc. increased its stake in Concentrix by 113.2% during the fourth quarter. Valley Wealth Managers Inc. now owns 205,530 shares of the company’s stock worth $20,185,000 after purchasing an additional 109,129 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on CNXC shares. Barrington Research reissued an “outperform” rating and issued a $84.00 price objective on shares of Concentrix in a research note on Friday, June 21st. Scotiabank decreased their price target 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. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $125.00 price target on shares of Concentrix in a research note on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.80.

Concentrix Stock Up 1.4 %

Shares of CNXC stock traded up $0.94 during trading hours on Friday, reaching $67.43. 211,265 shares of the stock were exchanged, compared to its average volume of 403,033. Concentrix Co. has a 12-month low of $53.89 and a 12-month high of $106.10. The business’s fifty day moving average is $63.49 and its two-hundred day moving average is $69.14. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56. The firm has a market capitalization of $4.41 billion, a P/E ratio of 15.61, a P/E/G ratio of 0.71 and a beta of 0.60.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.06. The firm 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 company’s revenue was up 47.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. As a group, research analysts expect that Concentrix Co. will post 10.8 EPS for the current fiscal year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, July 26th will be paid a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, July 26th. Concentrix’s payout ratio is 28.01%.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $63.21, for a total value of $25,284.00. Following the transaction, the executive vice president now directly owns 30,127 shares of the company’s stock, valued at approximately $1,904,327.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 1,200 shares of company stock valued at $71,800 over the last three months. 3.00% 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.