New York State Common Retirement Fund Has $3.88 Million Holdings in Concentrix Corporation (NASDAQ:CNXC)

New York State Common Retirement Fund trimmed its holdings in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 51.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,707 shares of the company's stock after selling 74,850 shares during the period. New York State Common Retirement Fund owned 0.11% of Concentrix worth $3,878,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its stake in shares of Concentrix by 47.3% in the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after purchasing an additional 217 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after acquiring an additional 444 shares in the last quarter. Xponance Inc. raised its position in shares of Concentrix by 8.9% during the 4th quarter. Xponance Inc. now owns 5,540 shares of the company's stock valued at $240,000 after acquiring an additional 455 shares in the last quarter. Fifth Third Bancorp increased its position in Concentrix by 36.5% in the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after buying an additional 548 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Concentrix by 21.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company's stock worth $140,000 after buying an additional 580 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $57.06, for a total transaction of $28,530.00. Following the sale, the executive vice president owned 38,130 shares of the company's stock, valued at approximately $2,175,697.80. This trade represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Concentrix Stock Down 0.4%

Shares of NASDAQ CNXC traded down $0.23 during mid-day trading on Friday, reaching $60.55. 372,477 shares of the company traded hands, compared to its average volume of 758,827. The stock has a market cap of $3.82 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.81 and a beta of 0.53. The company's fifty day moving average is $56.40 and its two-hundred day moving average is $51.54. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. Concentrix Corporation has a fifty-two week low of $36.28 and a fifty-two week high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned $2.69 EPS. On average, analysts expect that Concentrix Corporation will post 10.11 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 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 2.20%. The ex-dividend date of this dividend is Friday, July 25th. Concentrix's dividend payout ratio (DPR) is currently 36.54%.

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.