Quantinno Capital Management LP Sells 1,162 Shares of Concentrix Co. (NASDAQ:CNXC)

Quantinno Capital Management LP lowered its holdings in Concentrix Co. (NASDAQ:CNXC) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,201 shares of the company’s stock after selling 1,162 shares during the period. Quantinno Capital Management LP’s holdings in Concentrix were worth $1,599,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Concentrix by 64.9% during the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the period. First Horizon Advisors Inc. lifted its holdings in Concentrix by 54.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after purchasing an additional 285 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Concentrix in the 2nd quarter worth about $68,000. Quarry LP grew its holdings in Concentrix by 769.9% during the 2nd quarter. Quarry LP now owns 1,244 shares of the company’s stock valued at $79,000 after buying an additional 1,101 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Concentrix by 51.7% during the second quarter. Fifth Third Bancorp now owns 1,573 shares of the company’s stock valued at $100,000 after buying an additional 536 shares during the period. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Concentrix

In related news, EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction on Monday, September 30th. The shares were sold at an average price of $51.38, for a total value of $79,330.72. Following the transaction, the executive vice president now directly owns 27,783 shares of the company’s stock, valued at $1,427,490.54. The trade was a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. Caldwell sold 9,823 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $52.70, for a total transaction of $517,672.10. Following the sale, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at $12,745,020.70. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,367 shares of company stock worth $641,668 over the last three months. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CNXC shares. Canaccord Genuity Group cut their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Bank of America decreased their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Baird R W raised Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Barrington Research decreased their target price on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Finally, Robert W. Baird assumed coverage on Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target for the company. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $79.00.

Concentrix Trading Down 3.0 %

Shares of CNXC stock opened at $44.10 on Thursday. The business has a 50-day moving average price of $44.71 and a two-hundred day moving average price of $57.89. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $106.10. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. The firm has a market cap of $2.86 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 0.55 and a beta of 0.63.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.06). The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The firm’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.54 EPS. Equities analysts anticipate that Concentrix Co. will post 10.18 EPS for the current fiscal year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were given a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a yield of 3.02%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, October 25th. Concentrix’s dividend payout ratio is presently 43.18%.

About Concentrix

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.