JPMorgan Chase & Co. Sells 24,493 Shares of Concentrix Co. (NASDAQ:CNXC)

JPMorgan Chase & Co. cut its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 13.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156,130 shares of the company’s stock after selling 24,493 shares during the period. JPMorgan Chase & Co. owned approximately 0.24% of Concentrix worth $8,002,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. acquired a new position in Concentrix in the third quarter valued at about $445,000. Neo Ivy Capital Management bought a new position in shares of Concentrix during the 3rd quarter valued at about $2,844,000. Geode Capital Management LLC boosted its holdings in shares of Concentrix by 5.2% in the third quarter. Geode Capital Management LLC now owns 878,092 shares of the company’s stock valued at $45,013,000 after buying an additional 43,295 shares during the period. Barclays PLC raised its holdings in shares of Concentrix by 134.3% during the third quarter. Barclays PLC now owns 35,862 shares of the company’s stock worth $1,837,000 after acquiring an additional 20,559 shares during the period. Finally, State Street Corp lifted its position in Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company’s stock valued at $71,850,000 after acquiring an additional 18,304 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Concentrix Stock Performance

Shares of Concentrix stock opened at $46.48 on Wednesday. The company’s 50 day moving average price is $43.25 and its two-hundred day moving average price is $55.04. The firm has a market capitalization of $3.01 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.56 and a beta of 0.63. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $106.10.

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.