Insider Selling: Concentrix Co. (NASDAQ:CNXC) Director Sells 10,000 Shares of Stock

Posted by AM Reporter Staff on Aug 6th, 2022

Concentrix Co. (NASDAQ:CNXC – Get Rating) 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Dennis Polk also recently made the following trade(s):

On Friday, July 1st, Dennis Polk sold 10,000 shares of Concentrix stock. The stock was sold at an average price of $133.29, for a total transaction of $1,332,900.00.
On Wednesday, June 1st, Dennis Polk sold 10,000 shares of Concentrix stock. The stock was sold at an average price of $153.83, for a total transaction of $1,538,300.00.

Concentrix Stock Performance

NASDAQ CNXC opened at $136.71 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.59 and a quick ratio of 1.59. Concentrix Co. has a 1 year low of $121.60 and a 1 year high of $208.48. The company has a market capitalization of $7.12 billion, a PE ratio of 15.79, a P/E/G ratio of 0.88 and a beta of 0.45. The company has a fifty day moving average of $140.05 and a two-hundred day moving average of $163.32.

Concentrix (NASDAQ:CNXC – Get Rating) last released its quarterly earnings data on Monday, June 27th. The company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.12. Concentrix had a net margin of 7.66% and a return on equity of 20.87%. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the firm posted $2.37 earnings per share. Concentrix’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, analysts expect that Concentrix Co. will post 11.31 earnings per share for the current year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 9th. Stockholders of record on Friday, July 29th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, July 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.73%. Concentrix’s payout ratio is 11.55%.

Analyst Ratings Changes

Separately, Barrington Research decreased their price objective on shares of Concentrix from $202.00 to $183.00 and set an “outperform” rating for the company in a research note on Tuesday, July 5th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CNXC. HM Payson & Co. raised its holdings in Concentrix by 846.7% during the fourth quarter. HM Payson & Co. now owns 142 shares of the company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. CWM LLC purchased a new position in Concentrix during the fourth quarter worth about $40,000. Rockefeller Capital Management L.P. raised its holdings in Concentrix by 67.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 272 shares of the company’s stock worth $47,000 after purchasing an additional 110 shares in the last quarter. Prospera Financial Services Inc purchased a new position in Concentrix during the first quarter worth about $56,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Concentrix during the first quarter worth about $57,000. 75.73% of the stock is owned by hedge funds and other institutional investors.

Concentrix Company Profile

(Get Rating)

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.