Barclays PLC Boosts Stock Position in Concentrix Co. (NASDAQ:CNXC)

Barclays PLC raised its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 134.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,862 shares of the company's stock after purchasing an additional 20,559 shares during the quarter. Barclays PLC owned 0.06% of Concentrix worth $1,837,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Concentrix by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company's stock valued at $37,000 after buying an additional 287 shares during the period. nVerses Capital LLC lifted its position in shares of Concentrix by 10.7% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the company's stock worth $196,000 after purchasing an additional 300 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Concentrix by 21.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 4,370 shares of the company's stock valued at $277,000 after purchasing an additional 764 shares during the period. Clark Estates Inc. NY grew its holdings in shares of Concentrix by 2.0% in the third quarter. Clark Estates Inc. NY now owns 45,150 shares of the company's stock valued at $2,314,000 after purchasing an additional 900 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Concentrix during the 2nd quarter worth approximately $68,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CNXC has been the subject of several recent research reports. Barrington Research decreased their price target on shares of Concentrix from $84.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, September 26th. 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 report on Thursday, September 26th. Baird R W upgraded Concentrix to a "strong-buy" rating in a report on Thursday, October 3rd. Canaccord Genuity Group decreased their price objective on Concentrix from $125.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, September 26th. Finally, Robert W. Baird began coverage on shares of Concentrix in a research note on Thursday, October 3rd. They set an "outperform" rating and a $70.00 target price on the stock. 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 company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $79.00.

Concentrix Stock Down 0.2 %

NASDAQ CNXC traded down $0.09 during trading on Friday, reaching $44.44. 466,586 shares of the company's stock were exchanged, compared to its average volume of 581,376. The company has a 50 day moving average price of $42.97 and a two-hundred day moving average price of $56.34. The stock has a market cap of $2.88 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $106.10. 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 (NASDAQ:CNXC - Get Free Report) last posted its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.06). Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The business had revenue of $2.39 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same quarter in the previous year, the firm earned $2.54 EPS. Concentrix's revenue for the quarter was up 46.2% compared to the same quarter last year. On average, equities research analysts anticipate that Concentrix Co. will post 10.18 EPS for the current fiscal year.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $51.38, for a total transaction of $79,330.72. Following the sale, the executive vice president now owns 27,783 shares in the company, valued at approximately $1,427,490.54. The trade was a 5.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Christopher A. Caldwell sold 9,823 shares of the company's stock in a transaction dated 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 directly owns 241,841 shares of the company's stock, valued at approximately $12,745,020.70. This trade represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,367 shares of company stock worth $641,668. 3.10% of the stock is currently owned by insiders.

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.