Concentrix Co. (NASDAQ:CNXC) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC boosted its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 2.5% in the 3rd quarter, Holdings Channel reports. The fund owned 104,499 shares of the company’s stock after buying an additional 2,564 shares during the period. Janus Henderson Group PLC’s holdings in Concentrix were worth $5,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its holdings in shares of Concentrix by 2.9% during the 2nd quarter. SummerHaven Investment Management LLC now owns 8,662 shares of the company’s stock valued at $548,000 after purchasing an additional 248 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Concentrix by 54.0% in the second quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock valued at $51,000 after buying an additional 285 shares in the last quarter. GAMMA Investing LLC increased its holdings in Concentrix by 64.9% in the third quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after buying an additional 287 shares in the last quarter. nVerses Capital LLC raised its position in shares of Concentrix by 10.7% in the second quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock worth $196,000 after acquiring an additional 300 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Concentrix by 51.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,573 shares of the company’s stock worth $100,000 after acquiring an additional 536 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Price Performance

Concentrix stock opened at $46.31 on Tuesday. The company has a fifty day simple moving average of $45.07 and a 200-day simple moving average of $58.22. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $3.00 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 0.55 and a beta of 0.63. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $106.10.

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

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were paid a dividend of $0.333 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.88%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is 43.18%.

Analyst Ratings Changes

A number of research firms recently weighed in on CNXC. Barrington Research reduced their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Canaccord Genuity Group cut their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, September 26th. Bank of America decreased their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Baird R W raised shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Robert W. Baird started coverage on shares of Concentrix in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price target on the stock. One investment 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $79.00.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 1,544 shares of the 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 of the company’s stock, valued at $1,427,490.54. This represents a 5.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher A. Caldwell sold 9,823 shares of Concentrix stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $52.70, for a total transaction of $517,672.10. Following the sale, the chief executive officer now directly owns 241,841 shares in the company, valued at approximately $12,745,020.70. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,367 shares of company stock worth $641,668 in the last three months. 3.10% of the stock is owned by corporate insiders.

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.