Clark Estates Inc. NY Acquires 900 Shares of Concentrix Co. (NASDAQ:CNXC)

Clark Estates Inc. NY raised its position in shares of Concentrix Co. (NASDAQ:CNXC) by 2.0% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 45,150 shares of the company’s stock after buying an additional 900 shares during the period. Clark Estates Inc. NY’s holdings in Concentrix were worth $2,314,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Pzena Investment Management LLC lifted its position in Concentrix by 46.6% during the second quarter. Pzena Investment Management LLC now owns 1,484,907 shares of the company’s stock valued at $93,965,000 after acquiring an additional 471,699 shares during the last quarter. Copeland Capital Management LLC boosted its position in shares of Concentrix by 1.8% in the 3rd quarter. Copeland Capital Management LLC now owns 1,003,375 shares of the company’s stock worth $51,423,000 after purchasing an additional 17,653 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in Concentrix during the 2nd quarter worth $62,738,000. AQR Capital Management LLC increased its position in Concentrix by 74.4% during the 2nd quarter. AQR Capital Management LLC now owns 813,864 shares of the company’s stock valued at $51,160,000 after buying an additional 347,230 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY boosted its holdings in Concentrix by 126.4% in the second quarter. Paradigm Capital Management Inc. NY now owns 623,542 shares of the company’s stock worth $39,458,000 after acquiring an additional 348,100 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Concentrix news, CEO Christopher A. Caldwell sold 9,823 shares of Concentrix 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $74.63, for a total transaction of $29,852.00. Following the sale, the executive vice president now directly owns 29,327 shares of the company’s stock, valued at $2,188,674.01. The trade was a 1.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,267 shares of company stock worth $648,945. Insiders own 3.10% of the company’s stock.

Concentrix Trading Down 0.5 %

CNXC stock opened at $44.56 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $106.10. The company’s 50-day simple moving average is $47.61 and its 200-day simple moving average is $59.32. The firm has a market cap of $2.89 billion, a P/E ratio of 14.47, a PEG ratio of 0.61 and a beta of 0.61.

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

Concentrix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were given a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, October 25th. This is an increase from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio is 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.