Texas Permanent School Fund Reduces Position in Concentrix Co. (NASDAQ:CNXC)

Texas Permanent School Fund decreased its position in shares of Concentrix Co. (NASDAQ:CNXCGet Rating) by 2.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 30,415 shares of the company’s stock after selling 652 shares during the quarter. Texas Permanent School Fund’s holdings in Concentrix were worth $5,066,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNXC. CWM LLC purchased a new position in shares of Concentrix during the fourth quarter worth approximately $40,000. Qube Research & Technologies Ltd acquired a new stake in Concentrix during the 4th quarter worth $2,515,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Concentrix by 23.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,685 shares of the company’s stock worth $1,015,000 after purchasing an additional 1,084 shares during the last quarter. AGF Investments LLC acquired a new position in Concentrix in the fourth quarter valued at $88,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of Concentrix by 56.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,509 shares of the company’s stock valued at $275,000 after buying an additional 546 shares during the last quarter. Hedge funds and other institutional investors own 75.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research lowered their price target on Concentrix from $202.00 to $183.00 and set an “outperform” rating on the stock in a report on Tuesday, July 5th.

Concentrix Trading Up 0.4 %

NASDAQ:CNXC opened at $136.71 on Friday. Concentrix Co. has a 12-month low of $121.60 and a 12-month high of $208.48. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.81. The stock’s 50 day simple moving average is $140.05 and its 200-day simple moving average is $163.32. The firm has a market cap of $7.11 billion, a P/E ratio of 15.79, a PEG ratio of 0.88 and a beta of 0.45.

Concentrix (NASDAQ:CNXCGet Rating) last announced its quarterly earnings data 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 company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same period in the previous year, the company posted $2.37 EPS. Concentrix’s revenue was up 14.5% compared to the same quarter last year. Equities analysts anticipate that Concentrix Co. will post 11.31 EPS for the current year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 9th. Investors of record on Friday, July 29th will be given a $0.25 dividend. The ex-dividend date is Thursday, July 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.73%. Concentrix’s payout ratio is currently 11.55%.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Jane Fogarty bought 400 shares of the business’s stock in a transaction dated Friday, July 29th. The stock was acquired at an average cost of $134.63 per share, with a total value of $53,852.00. Following the purchase, the executive vice president now owns 3,164 shares in the company, valued at approximately $425,969.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Star Developments Ltd Silver sold 524,691 shares of the business’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $125.00, for a total transaction of $65,586,375.00. Following the sale, the insider now owns 4,415,535 shares of the company’s stock, valued at $551,941,875. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jane Fogarty bought 400 shares of the company’s stock in a transaction on Friday, July 29th. The stock was bought at an average cost of $134.63 per share, with a total value of $53,852.00. Following the completion of the acquisition, the executive vice president now owns 3,164 shares of the company’s stock, valued at approximately $425,969.32. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 559,596 shares of company stock valued at $70,454,029. 0.98% of the stock is owned by corporate insiders.

About Concentrix

(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.

Read More

Want to see what other hedge funds are holding CNXC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Concentrix Co. (NASDAQ:CNXCGet Rating).

Institutional Ownership by Quarter for Concentrix (NASDAQ:CNXC)

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.