Blue Trust Inc. Has $104,000 Holdings in Concentrix Co. (NASDAQ:CNXC)

Blue Trust Inc. lessened its stake in Concentrix Co. (NASDAQ:CNXC) by 23.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,409 shares of the company’s stock after selling 723 shares during the quarter. Blue Trust Inc.’s holdings in Concentrix were worth $104,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNXC. KBC Group NV increased its position in Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after acquiring an additional 815 shares in the last quarter. Quest Partners LLC bought a new position in shares of Concentrix in the 3rd quarter valued at about $146,000. Parametrica Management Ltd bought a new position in shares of Concentrix in the 3rd quarter valued at about $214,000. Verity Asset Management Inc. bought a new position in shares of Concentrix in the 3rd quarter valued at about $247,000. Finally, Bleakley Financial Group LLC bought a new position in shares of Concentrix in the 4th quarter valued at about $276,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Stock Down 1.6 %

Concentrix stock opened at $45.17 on Friday. The company’s 50 day simple moving average is $47.01 and its 200 day simple moving average is $51.65. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $84.11. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.63 and a beta of 0.67. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm earned $3.36 EPS. Concentrix’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

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

Insider Buying and Selling at Concentrix

In related news, Director Kathryn Hayley purchased 500 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average price of $50.22 per share, with a total value of $25,110.00. Following the completion of the purchase, the director now owns 3,034 shares in the company, valued at $152,367.48. This represents a 19.73 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 1,500 shares of company stock valued at $72,400. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reduced their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $75.00.

Concentrix Company 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.