2 weeks Ago By ABMN Staff
Dimensional Fund Advisors LP cut its holdings in Concentrix Co. ( NASDAQ:CNXC – Free Report ) by 31.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission.
The institutional investor owned 901,348 shares of the company’s stock after selling 419,500 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.38% of Concentrix worth $57,036,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the business. Envestnet Asset Management Inc. boosted its stake in Concentrix by 35.
0% in the second quarter. Envestnet Asset Management Inc. now owns 110,282 shares of the company’s stock valued at $6,979,000 after buying an additional 28,615 shares in the last quarter.
Oppenheimer Asset Management Inc. boosted its stake in Concentrix by 21.2% in the second quarter.
Oppenheimer Asset Management Inc. now owns 4,370 shares of the company’s stock valued at $277,000 after buying an additional 764 shares in the last quarter. Headlands Technologies LLC boosted its stake in Concentrix by 48.
5% in the second quarter. Headlands Technologies LLC now owns 8,909 shares of the company’s stock valued at $564,000 after buying an additional 2,911 shares in the last quarter. Mawer Investment Management Ltd.
boosted its stake in Concentrix by 40.6% in the second quarter. Mawer Investment Management Ltd.
now owns 169,766 shares of the company’s stock valued at $10,743,000 after buying an additional 48,999 shares in the last quarter. Finally, Oak Thistle LLC acquired a new stake in Concentrix in the second quarter valued at about $267,000. 90.
34% of the stock is owned by institutional investors and hedge funds. Analyst Ratings Changes Several analysts recently weighed in on CNXC shares. 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. Canaccord Genuity Group cut their price target on Concentrix from $125.
00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Bank of America cut their price target on Concentrix from $85.
00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock.
Based on data from MarketBeat.com, Concentrix presently has an average rating of “Moderate Buy” and an average target price of $81.25.
Concentrix Stock Performance Shares of CNXC stock opened at $51.56 on Friday. The business’s 50-day moving average price is $67.
29 and its 200-day moving average price is $63.58. Concentrix Co.
has a 12 month low of $50.23 and a 12 month high of $106.10.
The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 0.
68 and a beta of 0.61. 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 ( NASDAQ:CNXC – Get Free Report ) last announced its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $2.
93 by ($0.06). Concentrix had a net margin of 3.
08% and a return on equity of 17.00%. The firm had revenue of $2.
39 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the business posted $2.
54 earnings per share. The business’s revenue for the quarter was up 46.2% compared to the same quarter last year.
Equities research analysts forecast that Concentrix Co. will post 10.8 EPS for the current year.
Concentrix Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be given a dividend of $0.333 per share.
This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.58%.
This is an increase from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, October 25th.
Concentrix’s dividend payout ratio (DPR) is 28.01%. Insider Transactions at Concentrix In other news, EVP Cormac J.
Twomey sold 400 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $74.63, for a total transaction of $29,852.
00. Following the completion of the transaction, the executive vice president now directly owns 29,327 shares in the company, valued at $2,188,674.01.
The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink . 3.00% of the stock is owned by corporate insiders.
Concentrix Company Profile ( Free Report ) 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. Featured Stories Receive News & Ratings for Concentrix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concentrix and related companies with MarketBeat.
com's FREE daily email newsletter ..
