Victory Capital Management Inc. Sells 958 Shares of Concentrix Co. (NASDAQ:CNXC)

Victory Capital Management Inc. reduced its position in Concentrix Co. (NASDAQ:CNXCGet Rating) by 0.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 251,782 shares of the company’s stock after selling 958 shares during the period. Victory Capital Management Inc.’s holdings in Concentrix were worth $28,106,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Concentrix by 1.1% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 7,201 shares of the company’s stock valued at $977,000 after buying an additional 76 shares in the last quarter. Utah Retirement Systems boosted its stake in Concentrix by 4.5% in the 2nd quarter. Utah Retirement Systems now owns 2,300 shares of the company’s stock worth $312,000 after purchasing an additional 100 shares in the last quarter. Amundi boosted its stake in Concentrix by 40.8% in the 2nd quarter. Amundi now owns 373 shares of the company’s stock worth $47,000 after purchasing an additional 108 shares in the last quarter. Ronald Blue Trust Inc. boosted its stake in Concentrix by 57.4% in the 3rd quarter. Ronald Blue Trust Inc. now owns 307 shares of the company’s stock worth $42,000 after purchasing an additional 112 shares in the last quarter. Finally, First PREMIER Bank boosted its stake in Concentrix by 57.5% in the 3rd quarter. First PREMIER Bank now owns 315 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares in the last quarter. 92.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Concentrix news, Director Dennis Polk sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $122.32, for a total transaction of $1,223,200.00. Following the completion of the transaction, the director now directly owns 15,507 shares of the company’s stock, valued at approximately $1,896,816.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.98% of the stock is currently owned by insiders.

Concentrix Stock Performance

CNXC opened at $141.99 on Monday. Concentrix Co. has a 12-month low of $108.57 and a 12-month high of $208.48. The company has a current ratio of 1.55, a quick ratio of 1.67 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $7.34 billion, a PE ratio of 17.15, a P/E/G ratio of 0.97 and a beta of 0.54. The firm has a 50 day moving average of $128.30 and a two-hundred day moving average of $126.14.

Concentrix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Monday, January 30th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, January 27th. Concentrix’s dividend payout ratio is presently 13.29%.

Analysts Set New Price Targets

A number of research firms recently commented on CNXC. Barrington Research lowered their target price on shares of Concentrix from $183.00 to $174.00 and set an “outperform” rating for the company in a research note on Friday, September 30th. TheStreet upgraded shares of Concentrix from a “c” rating to a “b-” rating in a research note on Thursday, January 12th.

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.

Further Reading

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Institutional Ownership by Quarter for Concentrix (NASDAQ:CNXC)

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