Clark Estates Inc. NY Has $1.62 Million Stake in Concentrix Corporation (NASDAQ:CNXC)

Key Points

• Clark Estates Inc. NY decreased its stake in Concentrix Corporation by 27.6%, now holding 29,142 shares valued at approximately $1.62 million.
• Despite the decline from Clark Estates, several institutional investors, such as UMB Bank n.a. and First Horizon Advisors Inc., increased their positions significantly during the same period.
• Concentrix reported $2.70 EPS for the latest quarter, which was below the consensus estimate, and also announced a quarterly dividend of $0.3328 per share.

Clark Estates Inc. NY decreased its holdings in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,142 shares of the company's stock after selling 11,128 shares during the period. Clark Estates Inc. NY's holdings in Concentrix were worth $1,621,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CNXC. American Century Companies Inc. acquired a new position in shares of Concentrix during the fourth quarter valued at $539,000. Sei Investments Co. boosted its holdings in shares of Concentrix by 16.5% during the fourth quarter. Sei Investments Co. now owns 65,116 shares of the company's stock valued at $2,818,000 after acquiring an additional 9,237 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Concentrix during the fourth quarter valued at $346,000. LPL Financial LLC acquired a new position in shares of Concentrix during the fourth quarter valued at $1,278,000. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Concentrix by 362.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,418 shares of the company's stock valued at $581,000 after acquiring an additional 10,517 shares during the period. Institutional investors own 90.34% of the company's stock.

Concentrix Price Performance

NASDAQ CNXC traded down $5.75 on Friday, reaching $46.22. The company's stock had a trading volume of 1,002,733 shares, compared to its average volume of 676,440. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market cap of $2.91 billion, a PE ratio of 4.47, a PEG ratio of 0.62 and a beta of 0.53. The firm's 50 day moving average is $56.23 and its two-hundred day moving average is $51.81.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The company reported $2.70 earnings per share for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the company posted $2.69 earnings per share. Concentrix's revenue was up 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th will be issued a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, July 25th. Concentrix's dividend payout ratio is presently 36.54%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Canaccord Genuity Group reissued a "buy" rating and set a $80.00 price target on shares of Concentrix in a report on Monday, June 30th. Barrington Research reaffirmed an "outperform" rating and issued a $54.00 price objective on shares of Concentrix in a report on Tuesday, June 24th. Bank of America reduced their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a report on Friday, June 27th. Finally, Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Concentrix presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.75.

Insiders Place Their Bets

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total value of $28,955.00. Following the completion of the sale, the executive vice president directly owned 37,130 shares of the company's stock, valued at approximately $2,150,198.30. This represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.20% of the company's stock.

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.