1,444 Shares in Concentrix Co. (NASDAQ:CNXC) Acquired by American Trust

American Trust purchased a new position in shares of Concentrix Co. (NASDAQ:CNXCGet Rating) in the first quarter, HoldingsChannel.com reports. The fund purchased 1,444 shares of the company’s stock, valued at approximately $241,000.

Other large investors have also recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in shares of Concentrix by 47.1% in the first quarter. Bank of America Corp DE now owns 234,320 shares of the company’s stock valued at $39,029,000 after buying an additional 75,055 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Concentrix by 34.7% in the 1st quarter. Neuberger Berman Group LLC now owns 3,001 shares of the company’s stock valued at $500,000 after purchasing an additional 773 shares in the last quarter. Capital World Investors acquired a new stake in Concentrix during the 1st quarter worth approximately $13,360,000. Point72 Hong Kong Ltd bought a new position in Concentrix during the 1st quarter worth approximately $404,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Concentrix by 278.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 8,810 shares of the company’s stock valued at $1,467,000 after acquiring an additional 6,480 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $118.47 on Monday. Concentrix Co. has a fifty-two week low of $117.59 and a fifty-two week high of $208.48. The company’s 50-day moving average is $129.76 and its 200 day moving average is $148.88. The company has a market capitalization of $6.17 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 0.76 and a beta of 0.51. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.59 and a current ratio of 1.59.

Concentrix (NASDAQ:CNXCGet Rating) last issued its earnings results on Monday, June 27th. The company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.12. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. Concentrix had a return on equity of 20.87% and a net margin of 7.66%. Concentrix’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.37 earnings per share. On average, equities research analysts forecast that Concentrix Co. will post 11.31 earnings per share for the current year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Shareholders of record on Friday, July 29th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, July 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.84%. Concentrix’s dividend payout ratio (DPR) is 11.55%.

Insiders Place Their Bets

In other Concentrix news, major shareholder Star Developments Ltd Silver sold 524,691 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $125.00, for a total value of $65,586,375.00. Following the completion of the transaction, the insider now owns 4,415,535 shares in the company, valued at $551,941,875. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Dennis Polk sold 10,000 shares of the firm’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $134.82, for a total transaction of $1,348,200.00. Following the completion of the transaction, the director now directly owns 18,282 shares in the company, valued at $2,464,779.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Star Developments Ltd Silver sold 524,691 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $125.00, for a total value of $65,586,375.00. Following the transaction, the insider now owns 4,415,535 shares of the company’s stock, valued at $551,941,875. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 549,596 shares of company stock worth $68,915,729. 0.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Barrington Research reduced their price target on shares of Concentrix from $202.00 to $183.00 and set an “outperform” rating for the company in a research report on Tuesday, July 5th.

Concentrix Company Profile

(Get Rating)

Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.

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Institutional Ownership by Quarter for Concentrix (NASDAQ:CNXC)

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