Cormac J. Twomey Sells 500 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $44.05, for a total transaction of $22,025.00. Following the sale, the executive vice president now owns 23,936 shares in the company, valued at $1,054,380.80. This represents a 2.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Concentrix Price Performance

Concentrix stock opened at $43.27 on Thursday. The stock has a 50-day moving average price of $42.85 and a two-hundred day moving average price of $56.05. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $106.10. The company has a market capitalization of $2.80 billion, a PE ratio of 14.05, a P/E/G ratio of 0.56 and a beta of 0.63. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State Street Corp increased its position in Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company’s stock valued at $71,850,000 after acquiring an additional 18,304 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Concentrix in the third quarter worth $1,243,000. Raymond James & Associates increased its holdings in Concentrix by 73.3% in the third quarter. Raymond James & Associates now owns 55,313 shares of the company’s stock valued at $2,835,000 after purchasing an additional 23,387 shares during the period. State of Alaska Department of Revenue lifted its holdings in Concentrix by 24.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company’s stock worth $3,319,000 after buying an additional 12,870 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Concentrix during the 3rd quarter worth about $1,255,000. Institutional investors own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

CNXC has been the subject of several recent analyst reports. Robert W. Baird initiated coverage on Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 target price for the company. Barrington Research reduced their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Baird R W raised Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America reduced their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. Finally, Canaccord Genuity Group decreased their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $79.00.

Concentrix Company 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.