Amundi Sells 33,826 Shares of Concentrix Co. (NASDAQ:CNXC)

Amundi lessened its stake in Concentrix Co. (NASDAQ:CNXC) by 73.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,502 shares of the company’s stock after selling 33,826 shares during the quarter. Amundi’s holdings in Concentrix were worth $570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CNXC. Victory Capital Management Inc. boosted its holdings in Concentrix by 32.1% during the third quarter. Victory Capital Management Inc. now owns 28,773 shares of the company’s stock worth $1,475,000 after purchasing an additional 6,990 shares during the last quarter. Quest Partners LLC acquired a new position in Concentrix during the third quarter worth $146,000. Intech Investment Management LLC acquired a new position in Concentrix during the third quarter worth $1,255,000. Cerity Partners LLC boosted its holdings in Concentrix by 92.6% during the third quarter. Cerity Partners LLC now owns 11,778 shares of the company’s stock worth $604,000 after purchasing an additional 5,663 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its holdings in Concentrix by 8.1% during the third quarter. Loomis Sayles & Co. L P now owns 305,492 shares of the company’s stock worth $15,657,000 after purchasing an additional 22,815 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group cut their price target 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 research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $75.00.

Concentrix Trading Down 3.7 %

NASDAQ:CNXC opened at $45.06 on Friday. The firm’s fifty day moving average is $47.69 and its 200-day moving average is $48.73. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The firm has a market cap of $2.90 billion, a P/E ratio of 12.15, a P/E/G ratio of 0.63 and a beta of 0.69.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $3.36 EPS. Concentrix’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts expect that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were paid a $0.3328 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.33 annualized dividend and a dividend yield of 2.95%. Concentrix’s payout ratio is 35.85%.

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the transaction, the executive vice president now owns 41,111 shares in the company, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is owned by company insiders.

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.