16,355 Shares in Concentrix Co. (NASDAQ:CNXC) Acquired by Islay Capital Management LLC

Islay Capital Management LLC purchased a new stake in Concentrix Co. (NASDAQ:CNXC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,355 shares of the company’s stock, valued at approximately $838,000.

Several other institutional investors have also modified their holdings of the business. Impactive Capital LP grew its position in shares of Concentrix by 13.0% during the first quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock worth $254,707,000 after buying an additional 443,045 shares in the last quarter. Capital International Investors increased its position in shares of Concentrix by 0.3% in the 1st quarter. Capital International Investors now owns 2,525,762 shares of the company’s stock valued at $167,256,000 after purchasing an additional 7,333 shares during the last quarter. Pzena Investment Management LLC increased its position in shares of Concentrix by 46.6% in the 2nd quarter. Pzena Investment Management LLC now owns 1,484,907 shares of the company’s stock valued at $93,965,000 after purchasing an additional 471,699 shares during the last quarter. Copeland Capital Management LLC raised its holdings in shares of Concentrix by 1.8% in the 3rd quarter. Copeland Capital Management LLC now owns 1,003,375 shares of the company’s stock valued at $51,423,000 after purchasing an additional 17,653 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Concentrix during the 2nd quarter worth $62,738,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Activity at Concentrix

In other news, CEO Christopher A. Caldwell sold 9,823 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $52.70, for a total value of $517,672.10. Following the completion of the sale, the chief executive officer now owns 241,841 shares in the company, valued at approximately $12,745,020.70. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Cormac J. Twomey sold 400 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $74.63, for a total transaction of $29,852.00. Following the transaction, the executive vice president now owns 29,327 shares in the company, valued at approximately $2,188,674.01. This trade represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,267 shares of company stock worth $648,945 in the last quarter. Company insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

CNXC has been the topic of several recent analyst reports. Baird R W raised Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Robert W. Baird began coverage on Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 target price on the stock. Bank of America decreased their target price on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. Canaccord Genuity Group cut their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Finally, Barrington Research lowered their target price on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $79.00.

Concentrix Trading Down 3.8 %

CNXC opened at $38.29 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. Concentrix Co. has a 52 week low of $37.94 and a 52 week high of $106.10. The business’s 50 day moving average is $51.33 and its two-hundred day moving average is $60.26. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 0.53 and a beta of 0.61.

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

Concentrix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were issued 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 dividend yield of 3.48%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio (DPR) is currently 43.18%.

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.