Yousif Capital Management LLC Sells 458 Shares of Concentrix Corporation $CNXC

Yousif Capital Management LLC lowered its position in shares of Concentrix Corporation (NASDAQ:CNXC) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,834 shares of the company’s stock after selling 458 shares during the period. Yousif Capital Management LLC’s holdings in Concentrix were worth $890,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its stake in shares of Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after purchasing an additional 522 shares during the period. IFP Advisors Inc increased its stake in shares of Concentrix by 473.8% during the second quarter. IFP Advisors Inc now owns 700 shares of the company’s stock worth $37,000 after purchasing an additional 578 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Concentrix by 111.8% during the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company’s stock worth $47,000 after purchasing an additional 444 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Concentrix by 47.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company’s stock worth $84,000 after purchasing an additional 483 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of Concentrix by 124.5% during the first quarter. Federated Hermes Inc. now owns 2,364 shares of the company’s stock worth $132,000 after purchasing an additional 1,311 shares during the period. Institutional investors own 90.34% of the company’s stock.

Analyst Ratings Changes

CNXC has been the subject of several analyst reports. Robert W. Baird dropped their price objective on Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Bank of America dropped their price objective on Concentrix from $65.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, June 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Concentrix in a report on Tuesday, September 23rd. Weiss Ratings raised Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Concentrix in a report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.25.

Insiders Place Their Bets

In related news, EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the sale, the executive vice president owned 37,130 shares in the company, valued at $2,150,198.30. The trade was a 1.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Christopher A. Caldwell acquired 1,000 shares of Concentrix stock in a transaction that occurred on Friday, October 10th. The shares were purchased at an average price of $45.35 per share, for a total transaction of $45,350.00. Following the transaction, the chief executive officer directly owned 305,345 shares in the company, valued at $13,847,395.75. The trade was a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.20% of the company’s stock.

Concentrix Trading Up 3.7%

Shares of CNXC opened at $46.81 on Wednesday. Concentrix Corporation has a 52-week low of $36.28 and a 52-week high of $66.00. The business’s fifty day moving average is $50.30 and its 200-day moving average is $52.35. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 0.65 and a beta of 0.50.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 4th. Investors of record on Friday, October 24th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, October 24th. This represents a $1.44 dividend on an annualized basis and a yield of 3.1%. This is an increase from Concentrix’s previous quarterly dividend of $0.33. Concentrix’s dividend payout ratio is presently 28.12%.

Concentrix Company 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.