Baird Financial Group Inc. Has $309,000 Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

Baird Financial Group Inc. decreased its stake in shares of Concentrix Co. (NASDAQ:CNXCGet Rating) by 6.1% during the 2nd quarter, Holdings Channel reports. The firm owned 2,282 shares of the company’s stock after selling 149 shares during the period. Baird Financial Group Inc.’s holdings in Concentrix were worth $309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilson Asset Management International PTY Ltd. bought a new stake in Concentrix during the first quarter worth $21,836,000. Prudential Financial Inc. grew its holdings in Concentrix by 131.2% during the first quarter. Prudential Financial Inc. now owns 205,214 shares of the company’s stock worth $34,181,000 after purchasing an additional 116,465 shares during the period. Causeway Capital Management LLC increased its position in Concentrix by 22.1% during the first quarter. Causeway Capital Management LLC now owns 605,638 shares of the company’s stock worth $100,875,000 after buying an additional 109,600 shares during the last quarter. Invesco Ltd. raised its stake in Concentrix by 47.4% in the first quarter. Invesco Ltd. now owns 308,472 shares of the company’s stock valued at $51,380,000 after buying an additional 99,159 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Concentrix in the first quarter valued at approximately $13,375,000. Institutional investors own 93.24% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research cut their price target on Concentrix from $183.00 to $174.00 and set an “outperform” rating for the company in a report on Friday, September 30th.

Insider Transactions at Concentrix

In related news, Director Dennis Polk sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $121.64, for a total transaction of $1,216,400.00. Following the transaction, the director now directly owns 15,507 shares of the company’s stock, valued at $1,886,271.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Concentrix news, EVP Cormac J. Twomey sold 2,213 shares of the firm’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $119.63, for a total transaction of $264,741.19. Following the transaction, the executive vice president now owns 25,319 shares in the company, valued at approximately $3,028,911.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dennis Polk sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $121.64, for a total value of $1,216,400.00. Following the sale, the director now owns 15,507 shares of the company’s stock, valued at $1,886,271.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,644 shares of company stock valued at $2,667,540. 0.98% of the stock is currently owned by corporate insiders.

Concentrix Stock Performance

Shares of CNXC stock opened at $118.39 on Wednesday. Concentrix Co. has a 52 week low of $108.57 and a 52 week high of $208.48. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.90 and a beta of 0.69. The company has a 50-day simple moving average of $118.95 and a 200 day simple moving average of $131.21. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.67 and a current ratio of 1.67.

Concentrix (NASDAQ:CNXCGet Rating) last issued its quarterly earnings data on Wednesday, September 28th. The company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.05. Concentrix had a net margin of 7.39% and a return on equity of 21.55%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the business posted $2.35 earnings per share. The business’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, sell-side analysts predict that Concentrix Co. will post 11.31 earnings per share for the current year.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Friday, October 28th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, October 27th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.93%. This is an increase from Concentrix’s previous quarterly dividend of $0.25. Concentrix’s dividend payout ratio (DPR) is currently 12.76%.

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.

Further Reading

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Institutional Ownership by Quarter for Concentrix (NASDAQ:CNXC)

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