Amalgamated Bank Sells 1,043 Shares of Concentrix Co. (NASDAQ:CNXC)

Amalgamated Bank lessened its holdings in Concentrix Co. (NASDAQ:CNXCGet Rating) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,563 shares of the company’s stock after selling 1,043 shares during the quarter. Amalgamated Bank owned approximately 0.06% of Concentrix worth $4,924,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CNXC. Hilton Capital Management LLC grew its position in shares of Concentrix by 4.7% in the 4th quarter. Hilton Capital Management LLC now owns 1,470 shares of the company’s stock valued at $263,000 after buying an additional 66 shares during the last quarter. Arizona State Retirement System increased its holdings in Concentrix by 0.6% in the first quarter. Arizona State Retirement System now owns 12,021 shares of the company’s stock worth $2,002,000 after purchasing an additional 75 shares in the last quarter. Quent Capital LLC lifted its stake in Concentrix by 11.8% in the first quarter. Quent Capital LLC now owns 711 shares of the company’s stock valued at $118,000 after buying an additional 75 shares during the period. Crossmark Global Holdings Inc. lifted its stake in Concentrix by 2.3% in the first quarter. Crossmark Global Holdings Inc. now owns 4,058 shares of the company’s stock valued at $676,000 after buying an additional 90 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Concentrix by 12.5% during the 1st quarter. Fifth Third Bancorp now owns 885 shares of the company’s stock worth $147,000 after buying an additional 98 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Price Performance

CNXC stock opened at $119.34 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.59 and a quick ratio of 1.59. The company’s 50-day moving average is $129.45 and its 200-day moving average is $148.17. The stock has a market capitalization of $6.21 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.78 and a beta of 0.51. Concentrix Co. has a 1 year low of $117.59 and a 1 year high of $208.48.

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

Concentrix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 9th. Shareholders of record on Friday, July 29th were paid a dividend of $0.25 per share. The ex-dividend date 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 presently 11.55%.

Insiders Place Their Bets

In related news, major shareholder Star Developments Ltd Silver sold 524,691 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 4,415,535 shares in the company, valued at approximately $551,941,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Andre S. Valentine acquired 2,500 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were acquired at an average cost of $126.99 per share, for a total transaction of $317,475.00. Following the purchase, the chief financial officer now owns 39,470 shares in the company, valued at $5,012,295.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Star Developments Ltd Silver sold 524,691 shares of Concentrix stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $125.00, for a total transaction of $65,586,375.00. Following the transaction, the insider now directly owns 4,415,535 shares in the company, valued at $551,941,875. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 549,596 shares of company stock worth $68,915,729. Insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research dropped their target price on shares of Concentrix from $202.00 to $183.00 and set an “outperform” rating on the stock 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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