Concentrix Co. (NASDAQ:CNXC) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its position in shares of Concentrix Co. (NASDAQ:CNXC) by 89.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,486 shares of the company’s stock after selling 20,344 shares during the period. SG Americas Securities LLC’s holdings in Concentrix were worth $127,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CNXC. Impactive Capital LP increased its position in Concentrix by 13.0% during the 1st quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock worth $254,707,000 after purchasing an additional 443,045 shares in the last quarter. Capital International Investors raised its stake in shares of Concentrix by 0.3% in the 1st quarter. Capital International Investors now owns 2,525,762 shares of the company’s stock valued at $167,256,000 after acquiring an additional 7,333 shares during the period. Pzena Investment Management LLC raised its stake in shares of Concentrix by 46.6% in the 2nd quarter. Pzena Investment Management LLC now owns 1,484,907 shares of the company’s stock valued at $93,965,000 after acquiring an additional 471,699 shares during the period. 1832 Asset Management L.P. purchased a new stake in Concentrix during the 2nd quarter worth $62,738,000. Finally, AQR Capital Management LLC increased its holdings in Concentrix by 74.4% in the 2nd quarter. AQR Capital Management LLC now owns 813,864 shares of the company’s stock valued at $51,160,000 after purchasing an additional 347,230 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Concentrix Price Performance

CNXC stock opened at $44.52 on Friday. The stock’s 50 day moving average is $60.41 and its two-hundred day moving average is $61.76. Concentrix Co. has a 52-week low of $44.18 and a 52-week high of $106.10. The company has a market capitalization of $2.89 billion, a PE ratio of 14.45, a P/E/G ratio of 0.62 and a beta of 0.58. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm posted $2.54 EPS. The firm’s quarterly revenue was up 46.2% on a year-over-year basis. Analysts predict that Concentrix Co. will post 10.18 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be paid a $0.333 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio is 39.29%.

Insider Buying and Selling

In other Concentrix news, CEO Christopher A. Caldwell sold 9,823 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $52.70, for a total transaction of $517,672.10. Following the sale, the chief executive officer now owns 241,841 shares in the company, valued at $12,745,020.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Cormac J. Twomey sold 400 shares of Concentrix stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $74.63, for a total value of $29,852.00. Following the completion of the transaction, the executive vice president now directly owns 29,327 shares of the company’s stock, valued at approximately $2,188,674.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $52.70, for a total transaction of $517,672.10. Following the sale, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,167 shares of company stock worth $653,747. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

CNXC has been the topic of a number of recent research reports. Robert W. Baird began coverage on Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective on the stock. Baird R W raised Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Canaccord Genuity Group lowered their price objective 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. Barrington Research reduced their target price 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, Bank of America lowered their price target 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. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Concentrix has a consensus rating of “Buy” and a consensus target price of $79.00.

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.