Capital International Investors Sells 362,774 Shares of Concentrix Co. (NASDAQ:CNXC)

Capital International Investors lessened its position in shares of Concentrix Co. (NASDAQ:CNXCGet Rating) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,757,229 shares of the company’s stock after selling 362,774 shares during the period. Capital International Investors owned approximately 7.16% of Concentrix worth $625,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Citigroup Inc. increased its position in Concentrix by 168.9% during the 4th quarter. Citigroup Inc. now owns 19,906 shares of the company’s stock worth $3,555,000 after purchasing an additional 12,504 shares in the last quarter. M&T Bank Corp acquired a new position in Concentrix during the 1st quarter worth approximately $269,000. Mitsubishi UFJ Trust & Banking Corp increased its position in Concentrix by 100.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,200 shares of the company’s stock worth $200,000 after purchasing an additional 600 shares in the last quarter. New York State Common Retirement Fund increased its position in Concentrix by 10.4% during the 1st quarter. New York State Common Retirement Fund now owns 102,298 shares of the company’s stock worth $17,039,000 after purchasing an additional 9,654 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its position in Concentrix by 35.7% during the 1st quarter. Virginia Retirement Systems ET AL now owns 15,200 shares of the company’s stock worth $2,532,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Concentrix Trading Down 1.5 %

Shares of NASDAQ CNXC opened at $122.43 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.59 and a current ratio of 1.59. Concentrix Co. has a 52-week low of $120.42 and a 52-week high of $208.48. The firm has a 50 day moving average price of $130.27 and a two-hundred day moving average price of $150.72. The stock has a market cap of $6.37 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.83 and a beta of 0.51.

Concentrix (NASDAQ:CNXCGet Rating) last announced its quarterly earnings results on Monday, June 27th. The company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. Concentrix had a net margin of 7.66% and a return on equity of 20.87%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the prior year, the company posted $2.37 EPS. The company’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts forecast that Concentrix Co. will post 11.31 EPS for the current year.

Concentrix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 9th. Shareholders of record on Friday, July 29th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Thursday, July 28th. Concentrix’s dividend payout ratio (DPR) is currently 11.55%.

Insider Buying and Selling at Concentrix

In related news, Director Dennis Polk sold 10,000 shares of Concentrix stock in a transaction on Friday, July 1st. The shares were sold at an average price of $133.29, for a total transaction of $1,332,900.00. Following the completion of the transaction, the director now owns 18,282 shares of the company’s stock, valued at $2,436,807.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Concentrix news, CFO Andre S. Valentine purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, July 12th. The stock was purchased at an average cost of $126.99 per share, for a total transaction of $317,475.00. Following the acquisition, the chief financial officer now owns 39,470 shares in the company, valued at approximately $5,012,295.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dennis Polk sold 10,000 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $133.29, for a total value of $1,332,900.00. Following the sale, the director now owns 18,282 shares of the company’s stock, valued at $2,436,807.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 549,596 shares of company stock worth $68,915,729. 0.98% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, Barrington Research lowered their price objective on shares of Concentrix from $202.00 to $183.00 and set an “outperform” rating for the company in a research report on Tuesday, July 5th.

Concentrix Company Profile

(Get Rating)

Concentrix Corporation provides 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. It 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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Institutional Ownership by Quarter for Concentrix (NASDAQ:CNXC)

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