Clark Estates Inc. NY Has $2.31 Million Stock Position in Concentrix Co. (NASDAQ:CNXC)

Clark Estates Inc. NY lifted its position in shares of Concentrix Co. (NASDAQ:CNXC) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,150 shares of the company’s stock after acquiring an additional 900 shares during the quarter. Clark Estates Inc. NY owned approximately 0.07% of Concentrix worth $2,314,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. SummerHaven Investment Management LLC increased its position in Concentrix by 2.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,662 shares of the company’s stock valued at $548,000 after purchasing an additional 248 shares during the period. First Horizon Advisors Inc. grew its position in Concentrix by 54.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after purchasing an additional 285 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Concentrix by 64.9% during the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares during the last quarter. nVerses Capital LLC boosted its stake in Concentrix by 10.7% in the second quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock valued at $196,000 after acquiring an additional 300 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Concentrix by 2,992.3% during the second quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock valued at $25,000 after purchasing an additional 389 shares during the period. Institutional investors own 90.34% of the company’s stock.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 400 shares of Concentrix stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total transaction of $29,852.00. Following the transaction, the executive vice president now owns 29,327 shares in the company, valued at approximately $2,188,674.01. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. Caldwell sold 9,823 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $52.70, for a total value of $517,672.10. Following the completion of the transaction, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. This trade represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,267 shares of company stock worth $648,945 over the last quarter. 3.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America lowered their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Robert W. Baird started coverage on shares of Concentrix in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 target price on the stock. Canaccord Genuity Group reduced their price objective on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Barrington Research cut their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Finally, Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $79.00.

Concentrix Price Performance

CNXC stock opened at $44.56 on Wednesday. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $106.10. The firm has a 50-day moving average of $47.61 and a 200 day moving average of $59.32. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $2.89 billion, a P/E ratio of 14.47, a PEG ratio of 0.61 and a beta of 0.61.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period last year, the business earned $2.54 earnings per share. The company’s revenue was up 46.2% on a year-over-year basis. On average, sell-side analysts forecast that Concentrix Co. will post 10.18 EPS for the current year.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a dividend of $0.333 per share. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.99%. Concentrix’s dividend payout ratio is presently 43.18%.

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.