Clark Estates Inc. NY Cuts Holdings in Concentrix Co. (NASDAQ:CNXC)

Clark Estates Inc. NY cut its holdings in Concentrix Co. (NASDAQ:CNXC) by 10.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 40,270 shares of the company’s stock after selling 4,880 shares during the quarter. Clark Estates Inc. NY’s holdings in Concentrix were worth $1,742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in Concentrix by 125.6% in the fourth quarter. Victory Capital Management Inc. now owns 64,907 shares of the company’s stock valued at $2,809,000 after acquiring an additional 36,134 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in shares of Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after purchasing an additional 286 shares in the last quarter. Unified Investment Management purchased a new position in shares of Concentrix in the 4th quarter valued at about $589,000. SRS Capital Advisors Inc. lifted its stake in shares of Concentrix by 665.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company’s stock valued at $180,000 after purchasing an additional 3,624 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after buying an additional 444 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the sale, the executive vice president now owns 41,111 shares in the company, valued at approximately $2,285,771.60. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Concentrix currently has a consensus rating of “Buy” and a consensus target price of $75.00.

Concentrix Price Performance

Concentrix stock opened at $42.45 on Wednesday. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The firm’s 50-day simple moving average is $47.48 and its 200 day simple moving average is $50.59. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The firm has a market capitalization of $2.73 billion, a PE ratio of 11.44, a P/E/G ratio of 0.63 and a beta of 0.67.

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

Concentrix Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were issued a $0.3328 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.14%. Concentrix’s dividend payout ratio (DPR) is 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.