Envestnet Asset Management Inc. decreased its position in shares of Concentrix Co. (NASDAQ:CNXC – Get Rating) by 17.9% during the second quarter, Holdings Channel.com reports. The fund owned 8,914 shares of the company’s stock after selling 1,950 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Concentrix were worth $1,209,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CNXC. Prospera Financial Services Inc purchased a new stake in Concentrix during the 1st quarter valued at approximately $56,000. Quent Capital LLC boosted its stake in Concentrix by 11.8% during the first quarter. Quent Capital LLC now owns 711 shares of the company’s stock worth $118,000 after buying an additional 75 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Concentrix by 100.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,200 shares of the company’s stock worth $200,000 after purchasing an additional 600 shares during the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Concentrix during the first quarter worth $206,000. Finally, Pearl River Capital LLC bought a new stake in shares of Concentrix during the first quarter worth $218,000. 93.24% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Barrington Research decreased their price objective on Concentrix from $183.00 to $174.00 and set an “outperform” rating for the company in a report on Friday, September 30th.
Insider Buying and Selling
Concentrix Price Performance
Shares of NASDAQ CNXC 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 firm has a market cap of $6.12 billion, a P/E ratio of 13.73, a P/E/G ratio of 0.90 and a beta of 0.69. The business’s 50 day moving average price is $118.95 and its 200 day moving average price is $131.21. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 0.91.
Concentrix (NASDAQ:CNXC – Get Rating) last released its quarterly earnings results on Wednesday, September 28th. The company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.05. Concentrix had a return on equity of 21.55% and a net margin of 7.39%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the business posted $2.35 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. On average, sell-side analysts expect that Concentrix Co. will post 11.31 earnings per share for the current year.
Concentrix Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 8th. Stockholders of record on Friday, October 28th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Thursday, October 27th. This is a positive change from Concentrix’s previous quarterly dividend of $0.25. Concentrix’s dividend payout ratio (DPR) is 12.76%.
Concentrix Company Profile
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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