Concentrix Co. (NASDAQ:CNXC) Short Interest Down 23.8% in March

Concentrix Co. (NASDAQ:CNXCGet Rating) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 330,400 shares, a decrease of 23.8% from the March 15th total of 433,700 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average daily volume of 303,200 shares, the short-interest ratio is currently 1.1 days.

Separately, Zacks Investment Research cut Concentrix from a “hold” rating to a “sell” rating in a research note on Thursday, April 7th.

In other news, Director Dennis Polk sold 10,000 shares of the stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $163.42, for a total transaction of $1,634,200.00. Following the completion of the transaction, the director now directly owns 18,282 shares in the company, valued at approximately $2,987,644.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders sold 27,500 shares of company stock worth $4,897,500. 0.98% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital International Investors grew its stake in Concentrix by 17.7% during the 4th quarter. Capital International Investors now owns 4,120,003 shares of the company’s stock worth $735,915,000 after buying an additional 618,620 shares during the last quarter. BlackRock Inc. grew its position in shares of Concentrix by 2.3% during the fourth quarter. BlackRock Inc. now owns 3,633,356 shares of the company’s stock worth $648,990,000 after acquiring an additional 80,407 shares during the last quarter. State Street Corp increased its holdings in shares of Concentrix by 2.4% in the 4th quarter. State Street Corp now owns 1,094,317 shares of the company’s stock worth $195,467,000 after acquiring an additional 26,032 shares during the period. FIL Ltd lifted its position in Concentrix by 104.7% in the 3rd quarter. FIL Ltd now owns 989,438 shares of the company’s stock valued at $175,131,000 after purchasing an additional 506,192 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in Concentrix by 12.7% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 671,281 shares of the company’s stock valued at $119,904,000 after purchasing an additional 75,526 shares during the period. 75.98% of the stock is currently owned by institutional investors and hedge funds.

CNXC stock opened at $152.49 on Monday. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 18.85, a PEG ratio of 0.86 and a beta of 0.01. Concentrix has a 1-year low of $141.38 and a 1-year high of $208.48. The firm has a fifty day moving average price of $187.92 and a two-hundred day moving average price of $182.03. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.57 and a quick ratio of 1.57.

Concentrix (NASDAQ:CNXCGet Rating) last announced its quarterly earnings data on Tuesday, March 29th. The company reported $2.85 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.14. Concentrix had a net margin of 7.40% and a return on equity of 20.51%. During the same quarter in the prior year, the firm posted $2.18 earnings per share. As a group, analysts expect that Concentrix will post 11.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 10th. Stockholders of record on Friday, April 29th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, April 28th. Concentrix’s payout ratio is 12.36%.

Concentrix Company Profile (Get Rating)

Concentrix Corporation provides technology-infused customer experience solutions worldwide. It provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services. The company also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.

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