Blue Trust Inc. Has $174,000 Stake in Concentrix Corporation (NASDAQ:CNXC)

Blue Trust Inc. increased its stake in shares of Concentrix Corporation (NASDAQ:CNXC) by 29.9% during the first quarter, HoldingsChannel.com reports. The fund owned 3,129 shares of the company’s stock after purchasing an additional 720 shares during the period. Blue Trust Inc.’s holdings in Concentrix were worth $174,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. UMB Bank n.a. increased its holdings in Concentrix by 47.3% during the 1st quarter. UMB Bank n.a. now owns 676 shares of the company’s stock valued at $38,000 after purchasing an additional 217 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after acquiring an additional 286 shares during the period. Rhumbline Advisers raised its stake in Concentrix by 0.3% in the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after acquiring an additional 324 shares during the period. Parkside Financial Bank & Trust grew its holdings in Concentrix by 58.7% in the 4th 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. Finally, Xponance Inc. grew its holdings in shares of Concentrix by 8.9% during the 4th quarter. Xponance Inc. now owns 5,540 shares of the company’s stock worth $240,000 after purchasing an additional 455 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CNXC shares. Bank of America upped their price objective on Concentrix from $59.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, June 9th. Barrington Research reaffirmed an “outperform” rating and set a $54.00 target price on shares of Concentrix in a research report on Tuesday. Finally, Wall Street Zen downgraded shares of Concentrix from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.25.

Insider Buying and Selling at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of the company’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total value of $1,428,622.88. Following the sale, the director now directly owns 1,155,862 shares of the company’s stock, valued at $56,082,424.24. This represents a 2.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the sale, the executive vice president now directly owns 39,130 shares in the company, valued at $2,164,280.30. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,944 shares of company stock valued at $1,510,158 in the last three months. Company insiders own 3.20% of the company’s stock.

Concentrix Stock Up 4.5%

CNXC opened at $54.08 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.22. Concentrix Corporation has a 1-year low of $36.28 and a 1-year high of $77.00. The company has a market capitalization of $3.45 billion, a PE ratio of 13.55, a PEG ratio of 0.67 and a beta of 0.56. The firm’s 50 day simple moving average is $53.49 and its two-hundred day simple moving average is $49.33.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.81% and a return on equity of 16.73%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period last year, the company posted $2.57 earnings per share. Concentrix’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities analysts forecast that Concentrix Corporation will post 10.11 EPS for the current year.

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.