Insider Selling: Concentrix Co. (NASDAQ:CNXC) EVP Sells 500 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $44.05, for a total transaction of $22,025.00. Following the completion of the sale, the executive vice president now directly owns 23,936 shares in the company, valued at approximately $1,054,380.80. This represents a 2.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Concentrix Stock Up 0.8 %

Shares of NASDAQ:CNXC opened at $43.27 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.57. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $106.10. The business’s 50 day simple moving average is $42.85 and its two-hundred day simple moving average is $56.05. The firm has a market cap of $2.80 billion, a P/E ratio of 14.05, a PEG ratio of 0.56 and a beta of 0.63.

Wall Street Analyst Weigh In

A number of analysts have commented on CNXC shares. Baird R W raised shares of Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Barrington Research cut their target price on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Canaccord Genuity Group lowered their target price on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, September 26th. Bank of America cut their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Finally, Robert W. Baird assumed coverage on shares of Concentrix in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price objective for the company. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given 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 $79.00.

Hedge Funds Weigh In On Concentrix

A number of large investors have recently modified their holdings of the company. 1832 Asset Management L.P. bought a new stake in Concentrix during the 2nd quarter valued at $62,738,000. Pzena Investment Management LLC raised its holdings 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 worth $93,965,000 after acquiring an additional 471,699 shares during the last quarter. Invenomic Capital Management LP lifted its position in Concentrix by 354.3% in the 3rd quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock valued at $24,202,000 after acquiring an additional 368,295 shares in the last quarter. Paradigm Capital Management Inc. NY boosted its stake in Concentrix by 126.4% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 623,542 shares of the company’s stock valued at $39,458,000 after purchasing an additional 348,100 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in Concentrix by 74.4% during the 2nd quarter. AQR Capital Management LLC now owns 813,864 shares of the company’s stock worth $51,160,000 after purchasing an additional 347,230 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors.

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.