Barclays PLC Boosts Stock Position in Concentrix Co. (NASDAQ:CNXC)

Barclays PLC grew its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 134.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,862 shares of the company’s stock after buying an additional 20,559 shares during the period. Barclays PLC owned 0.06% of Concentrix worth $1,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates lifted its stake in Concentrix by 6.0% during the second quarter. Raymond James & Associates now owns 31,926 shares of the company’s stock worth $2,020,000 after purchasing an additional 1,804 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Concentrix by 14.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 532,771 shares of the company’s stock valued at $33,714,000 after buying an additional 67,818 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Concentrix by 24.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,233 shares of the company’s stock valued at $521,000 after buying an additional 1,595 shares in the last quarter. Maryland State Retirement & Pension System purchased a new position in shares of Concentrix in the 2nd quarter valued at $210,000. Finally, nVerses Capital LLC raised its stake in Concentrix by 10.7% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock worth $196,000 after acquiring an additional 300 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Stock Up 3.6 %

Concentrix stock opened at $44.53 on Friday. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.56 and a beta of 0.63. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. The stock has a 50 day moving average of $43.07 and a two-hundred day moving average of $56.45. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $106.10.

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

Insider Transactions at Concentrix

In other news, CEO Christopher A. Caldwell sold 9,823 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $52.70, for a total transaction 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 represents a 3.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $51.38, for a total value of $79,330.72. Following the completion of the sale, the executive vice president now owns 27,783 shares in the company, valued at approximately $1,427,490.54. This trade represents a 5.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,367 shares of company stock worth $641,668. Company insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CNXC shares. Bank of America decreased their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. Canaccord Genuity Group dropped their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. Barrington Research cut their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Robert W. Baird initiated coverage on Concentrix in a report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price objective for the company. Finally, Baird R W raised shares of Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. One equities research 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. Based on data from MarketBeat.com, Concentrix presently has a consensus rating of “Buy” and a consensus target price of $79.00.

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.