Arizona State Retirement System Sells 496 Shares of Concentrix Co. (NASDAQ:CNXC)

Arizona State Retirement System decreased its position in Concentrix Co. (NASDAQ:CNXC) by 3.9% during the 4th quarter, HoldingsChannel reports. The fund owned 12,102 shares of the company’s stock after selling 496 shares during the quarter. Arizona State Retirement System’s holdings in Concentrix were worth $1,189,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Utah Retirement Systems raised its stake in shares of Concentrix by 4.5% during the 2nd quarter. Utah Retirement Systems now owns 2,300 shares of the company’s stock worth $312,000 after purchasing an additional 100 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Concentrix by 9.1% during the 4th quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock worth $145,000 after purchasing an additional 123 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Concentrix by 7.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,859 shares of the company’s stock worth $310,000 after purchasing an additional 133 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in shares of Concentrix by 4.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,366 shares of the company’s stock worth $350,000 after acquiring an additional 168 shares during the last quarter. Finally, LPL Financial LLC increased its holdings in shares of Concentrix by 8.7% during the 2nd quarter. LPL Financial LLC now owns 2,302 shares of the company’s stock worth $312,000 after acquiring an additional 184 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $59.22 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.38. The stock’s fifty day moving average price is $70.37 and its two-hundred day moving average price is $82.65. Concentrix Co. has a one year low of $56.81 and a one year high of $113.04. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 0.68 and a beta of 0.48.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $3.07 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.15. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.20 billion. On average, equities analysts forecast that Concentrix Co. will post 11.03 EPS for the current year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be issued a $0.303 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.05%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, April 25th. Concentrix’s dividend payout ratio is currently 24.95%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CNXC. Bank of America reissued an “underperform” rating and set a $60.00 target price (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Barrington Research decreased their target price on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.25.

Concentrix Company Profile

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.