James Investment Research Inc. Sells 255 Shares of Concentrix Co. (NASDAQ:CNXC)

James Investment Research Inc. reduced its position in Concentrix Co. (NASDAQ:CNXC) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,699 shares of the company’s stock after selling 255 shares during the period. James Investment Research Inc.’s holdings in Concentrix were worth $290,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CNXC. Invenomic Capital Management LP lifted its holdings in shares of Concentrix by 354.3% in the 3rd quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock worth $24,202,000 after purchasing an additional 368,295 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Concentrix by 32.9% in the 4th quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company’s stock worth $57,688,000 after purchasing an additional 329,831 shares in the last quarter. Thompson Investment Management Inc. lifted its holdings in shares of Concentrix by 1,232.8% in the 4th quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company’s stock worth $6,076,000 after purchasing an additional 129,876 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Concentrix in the 3rd quarter worth $2,844,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Concentrix by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 878,092 shares of the company’s stock worth $45,013,000 after purchasing an additional 43,295 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Concentrix news, Director Kathryn Hayley bought 500 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was purchased at an average cost of $50.22 per share, with a total value of $25,110.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at $152,367.48. This trade represents a 19.73 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 1,500 shares of company stock valued at $72,400 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Canaccord Genuity Group cut their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Concentrix has an average rating of “Buy” and a consensus target price of $75.00.

Concentrix Trading Down 0.8 %

NASDAQ CNXC opened at $48.12 on Monday. The firm has a market capitalization of $3.10 billion, a P/E ratio of 12.97, a PEG ratio of 0.66 and a beta of 0.67. The business has a fifty day simple moving average of $46.77 and a 200 day simple moving average of $52.22. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $85.35. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. Concentrix’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.36 EPS. On average, analysts predict that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were given a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.77%. The ex-dividend date was Friday, January 31st. Concentrix’s dividend payout ratio is presently 35.85%.

Concentrix 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.