Concentrix Co. (NASDAQ:CNXC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in Concentrix Co. (NASDAQ:CNXC) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,654 shares of the company’s stock after selling 768 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Concentrix were worth $1,067,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in Concentrix by 0.3% during the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after purchasing an additional 324 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after buying an additional 444 shares in the last quarter. Venturi Wealth Management LLC raised its position in Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after buying an additional 490 shares during the period. KBC Group NV raised its position in Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after buying an additional 815 shares during the period. Finally, Clark Estates Inc. NY lifted its stake in Concentrix by 2.0% in the 3rd quarter. Clark Estates Inc. NY now owns 45,150 shares of the company’s stock worth $2,314,000 after acquiring an additional 900 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the transaction, the executive vice president now owns 41,111 shares of the company’s stock, valued at $2,285,771.60. This represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.20% of the company’s stock.

Concentrix Trading Up 5.5 %

Concentrix stock opened at $47.10 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.63 and a beta of 0.69. The company’s fifty day moving average price is $47.54 and its two-hundred day moving average price is $50.09. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.25. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.36 earnings per share. On average, analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were given a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, January 31st. Concentrix’s dividend payout ratio (DPR) is currently 35.85%.

About Concentrix

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.