Copeland Capital Management LLC Reduces Position in Concentrix Corporation $CNXC

Copeland Capital Management LLC trimmed its holdings in Concentrix Corporation (NASDAQ:CNXC) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,210,480 shares of the company’s stock after selling 60,645 shares during the quarter. Copeland Capital Management LLC owned about 1.94% of Concentrix worth $55,864,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Envestnet Asset Management Inc. increased its position in shares of Concentrix by 32.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 220,030 shares of the company’s stock valued at $11,630,000 after purchasing an additional 54,449 shares during the last quarter. Brandywine Global Investment Management LLC purchased a new position in shares of Concentrix in the second quarter worth approximately $5,942,000. Natixis bought a new stake in Concentrix during the second quarter valued at approximately $1,872,000. Arrowstreet Capital Limited Partnership increased its holdings in Concentrix by 247.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 535,843 shares of the company’s stock valued at $28,322,000 after buying an additional 381,497 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its holdings in Concentrix by 50.1% during the second quarter. Focus Partners Advisor Solutions LLC now owns 17,981 shares of the company’s stock valued at $950,000 after buying an additional 5,998 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

Concentrix Price Performance

Shares of Concentrix stock opened at $42.34 on Tuesday. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 0.56 and a beta of 0.50. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. The stock’s 50-day simple moving average is $38.82 and its 200-day simple moving average is $47.59. Concentrix Corporation has a 52 week low of $31.63 and a 52 week high of $66.00.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CNXC shares. Wall Street Zen raised shares of Concentrix from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Weiss Ratings downgraded Concentrix from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, December 24th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of Concentrix in a report on Tuesday, September 23rd. Robert W. Baird lowered their price objective on Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, September 29th. Finally, Barrington Research reiterated an “outperform” rating and set a $62.00 price objective on shares of Concentrix in a research note on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.25.

Insider Buying and Selling

In other Concentrix news, CEO Christopher A. Caldwell purchased 2,000 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was acquired at an average cost of $42.03 per share, for a total transaction of $84,060.00. Following the purchase, the chief executive officer directly owned 286,661 shares of the company’s stock, valued at $12,048,361.83. This trade represents a 0.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders purchased 4,000 shares of company stock valued at $169,410. 3.20% of the stock is currently owned by insiders.

Concentrix Profile

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.