Texas Permanent School Fund Reduces Holdings in Concentrix Co. (NASDAQ:CNXC)

Texas Permanent School Fund lessened its position in shares of Concentrix Co. (NASDAQ:CNXCGet Rating) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,415 shares of the company’s stock after selling 652 shares during the quarter. Texas Permanent School Fund owned about 0.06% of Concentrix worth $5,066,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. CWM LLC purchased a new position in Concentrix during the fourth quarter worth about $40,000. Qube Research & Technologies Ltd acquired a new position in Concentrix during the fourth quarter worth $2,515,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Concentrix by 23.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,685 shares of the company’s stock worth $1,015,000 after buying an additional 1,084 shares during the period. AGF Investments LLC purchased a new position in shares of Concentrix during the fourth quarter worth $88,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Concentrix by 56.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,509 shares of the company’s stock valued at $275,000 after buying an additional 546 shares in the last quarter. 75.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Barrington Research lowered their target price on Concentrix from $202.00 to $183.00 and set an “outperform” rating for the company in a report on Tuesday, July 5th.

Insider Buying and Selling at Concentrix

In other news, major shareholder Star Developments Ltd Silver sold 524,691 shares of the business’s stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $125.00, for a total transaction of $65,586,375.00. Following the completion of the transaction, the insider now directly owns 4,415,535 shares of the company’s stock, valued at $551,941,875. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder Star Developments Ltd Silver sold 524,691 shares of the firm’s stock in a transaction on Tuesday, July 19th. The shares were sold at an average price of $125.00, for a total value of $65,586,375.00. Following the sale, the insider now directly owns 4,415,535 shares in the company, valued at approximately $551,941,875. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis Polk sold 10,000 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $134.82, for a total transaction of $1,348,200.00. Following the transaction, the director now owns 18,282 shares of the company’s stock, valued at approximately $2,464,779.24. The disclosure for this sale can be found here. Insiders have sold 559,596 shares of company stock valued at $70,454,029 in the last quarter. Corporate insiders own 0.98% of the company’s stock.

Concentrix Trading Up 0.4 %

NASDAQ CNXC opened at $136.71 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 0.88 and a beta of 0.45. The firm has a 50 day simple moving average of $140.05 and a 200-day simple moving average of $163.32. Concentrix Co. has a one year low of $121.60 and a one year high of $208.48.

Concentrix (NASDAQ:CNXCGet Rating) last issued its quarterly earnings results on Monday, June 27th. The company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.62 by $0.12. The company had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Concentrix had a net margin of 7.66% and a return on equity of 20.87%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.37 EPS. Equities research analysts anticipate that Concentrix Co. will post 11.31 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 9th. Shareholders of record on Friday, July 29th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $1.00 annualized dividend and a yield of 0.73%. Concentrix’s dividend payout ratio (DPR) is 11.55%.

About Concentrix

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Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.

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Institutional Ownership by Quarter for Concentrix (NASDAQ:CNXC)

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