Concentrix Co. (NASDAQ:CNXC) Stake Reduced by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of Concentrix Co. (NASDAQ:CNXCGet Rating) by 38.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 36,808 shares of the company’s stock after selling 22,845 shares during the period. State of Alaska Department of Revenue’s holdings in Concentrix were worth $4,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. HM Payson & Co. grew its stake in Concentrix by 846.7% during the 4th quarter. HM Payson & Co. now owns 142 shares of the company’s stock worth $25,000 after buying an additional 127 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in Concentrix by 67.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 272 shares of the company’s stock worth $47,000 after buying an additional 110 shares during the last quarter. Prospera Financial Services Inc bought a new position in Concentrix during the 1st quarter worth $56,000. Counterpoint Mutual Funds LLC bought a new position in Concentrix during the 1st quarter worth $57,000. Finally, Quent Capital LLC acquired a new position in Concentrix during the 4th quarter worth $114,000. 93.24% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Jane Fogarty acquired 400 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was acquired at an average price of $134.63 per share, for a total transaction of $53,852.00. Following the completion of the acquisition, the executive vice president now directly owns 3,164 shares in the company, valued at approximately $425,969.32. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Andre S. Valentine acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, July 12th. The stock was acquired at an average price of $126.99 per share, for a total transaction of $317,475.00. Following the completion of the acquisition, the chief financial officer now directly owns 39,470 shares in the company, valued at approximately $5,012,295.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Jane Fogarty bought 400 shares of Concentrix stock in a transaction dated Friday, July 29th. The shares were bought at an average cost of $134.63 per share, with a total value of $53,852.00. Following the completion of the acquisition, the executive vice president now owns 3,164 shares of the company’s stock, valued at $425,969.32. The disclosure for this purchase can be found here. Insiders sold a total of 549,596 shares of company stock worth $68,915,729 over the last 90 days. 0.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

Concentrix Trading Down 1.5 %

Shares of CNXC stock opened at $119.34 on Wednesday. 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 Co. has a 1 year low of $117.59 and a 1 year high of $208.48. The stock has a fifty day moving average of $129.45 and a two-hundred day moving average of $148.17. The firm 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 (NASDAQ:CNXCGet Rating) last announced its quarterly earnings results on Monday, June 27th. The company reported $2.74 earnings per share (EPS) 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 company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the firm posted $2.37 EPS. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. As a group, research analysts expect that Concentrix Co. will post 11.31 EPS for the current year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Stockholders 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 annualized dividend and a dividend yield of 0.84%. Concentrix’s dividend payout ratio (DPR) is 11.55%.

About Concentrix

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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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