Concentrix Co. (NASDAQ:CNXC) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 24.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,233 shares of the company’s stock after acquiring an additional 1,595 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Concentrix were worth $521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Truist Financial Corp bought a new position in shares of Concentrix during the 4th quarter valued at about $440,000. Victory Capital Management Inc. increased its holdings in shares of Concentrix by 13.2% in the fourth quarter. Victory Capital Management Inc. now owns 9,150 shares of the company’s stock valued at $899,000 after buying an additional 1,066 shares in the last quarter. Amalgamated Bank lifted its position in shares of Concentrix by 5.1% during the 4th quarter. Amalgamated Bank now owns 28,567 shares of the company’s stock valued at $2,806,000 after acquiring an additional 1,386 shares during the last quarter. M&T Bank Corp purchased a new stake in shares of Concentrix during the fourth quarter valued at $233,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Concentrix by 12.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 436,146 shares of the company’s stock valued at $42,834,000 after purchasing an additional 48,331 shares during the period. Institutional investors own 90.34% of the company’s stock.

Concentrix Trading Down 1.6 %

NASDAQ CNXC opened at $72.68 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21. Concentrix Co. has a 1-year low of $53.89 and a 1-year high of $106.10. The firm’s fifty day simple moving average is $68.32 and its 200-day simple moving average is $64.67. The company has a market capitalization of $4.75 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 0.80 and a beta of 0.61.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Wednesday, June 26th. The company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.06. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The company had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business earned $2.50 EPS. The business’s quarterly revenue was up 47.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Concentrix Co. will post 10.8 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, July 26th were paid a $0.303 dividend. This represents a $1.21 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, July 26th. Concentrix’s payout ratio is presently 28.01%.

Insiders Place Their Bets

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $74.63, for a total value of $29,852.00. Following the completion of the sale, the executive vice president now owns 29,327 shares of the company’s stock, valued at $2,188,674.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 1,200 shares of company stock valued at $82,028 over the last three months. 3.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CNXC has been the topic of several analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $125.00 target price on shares of Concentrix in a research report on Thursday, June 27th. Barrington Research reaffirmed an “outperform” rating and issued a $84.00 target price on shares of Concentrix in a research report on Friday, June 21st. Finally, Bank of America upgraded Concentrix from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $65.00 to $85.00 in a report on Wednesday, August 28th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Concentrix currently has a consensus rating of “Moderate Buy” and an average price target of $94.75.

Concentrix Profile

Concentrix Corporation engages in the provision of 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, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.