Capital International Inc. CA Reduces Holdings in Concentrix Co. (NASDAQ:CNXC)

Capital International Inc. CA decreased its position in shares of Concentrix Co. (NASDAQ:CNXC) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in Concentrix by 381.7% during the 4th quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares during the last quarter. Pineridge Advisors LLC purchased a new stake in shares of Concentrix in the fourth quarter worth approximately $35,000. Parkside Financial Bank & Trust lifted its stake in shares of Concentrix by 146.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock worth $62,000 after acquiring an additional 374 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Concentrix by 29.8% during the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock worth $113,000 after acquiring an additional 264 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Concentrix by 49.8% during the 1st quarter. Covestor Ltd now owns 1,918 shares of the company’s stock valued at $127,000 after acquiring an additional 638 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $125.00 target price on shares of Concentrix in a research note on Thursday, June 27th. Barrington Research reiterated an “outperform” rating and set a $84.00 price objective on shares of Concentrix in a report on Friday, June 21st. Finally, Scotiabank dropped their target price on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.80.

Concentrix Stock Up 1.4 %

NASDAQ:CNXC traded up $0.94 during mid-day trading on Friday, reaching $67.43. The company’s stock had a trading volume of 211,265 shares, compared to its average volume of 403,033. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 1.21. Concentrix Co. has a 1 year low of $53.89 and a 1 year high of $106.10. The stock has a fifty day moving average of $63.49 and a 200-day moving average of $69.14. The firm has a market capitalization of $4.41 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.60.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.63 by $0.06. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The company’s quarterly revenue was up 47.4% compared to the same quarter last year. Equities research analysts forecast that Concentrix Co. will post 10.8 earnings per share for the current year.

Concentrix Announces Dividend

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

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $63.21, for a total transaction of $25,284.00. Following the completion of the sale, the executive vice president now directly owns 30,127 shares of the company’s stock, valued at $1,904,327.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders sold 1,200 shares of company stock valued at $71,800. Corporate insiders own 3.00% of the company’s stock.

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.