California Public Employees Retirement System Has $3.47 Million Stock Position in Concentrix Co. (NASDAQ:CNXC)

California Public Employees Retirement System decreased its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 7.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,228 shares of the company's stock after selling 6,798 shares during the quarter. California Public Employees Retirement System owned about 0.12% of Concentrix worth $3,471,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CNXC. Janus Henderson Group PLC boosted its stake in shares of Concentrix by 2.5% during the 3rd quarter. Janus Henderson Group PLC now owns 104,499 shares of the company's stock worth $5,355,000 after acquiring an additional 2,564 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Concentrix by 9.0% in the 3rd quarter. Stifel Financial Corp now owns 36,131 shares of the company's stock valued at $1,852,000 after purchasing an additional 2,997 shares during the period. State Street Corp increased its stake in Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company's stock worth $71,850,000 after purchasing an additional 18,304 shares in the last quarter. Barclays PLC lifted its stake in Concentrix by 134.3% during the third quarter. Barclays PLC now owns 35,862 shares of the company's stock valued at $1,837,000 after buying an additional 20,559 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Concentrix by 5.2% in the third quarter. Geode Capital Management LLC now owns 878,092 shares of the company's stock worth $45,013,000 after buying an additional 43,295 shares during the period. Institutional investors own 90.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CNXC. Barrington Research cut their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Canaccord Genuity Group reduced their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, Bank of America lifted their price target on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $69.60.

Concentrix Stock Up 3.2 %

Shares of NASDAQ CNXC traded up $1.55 during mid-day trading on Monday, reaching $50.37. The company had a trading volume of 63,196 shares, compared to its average volume of 953,949. The stock has a market capitalization of $3.22 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. Concentrix Co. 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 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The stock's 50 day moving average is $47.54 and its 200-day moving average is $46.41.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.58 by $0.21. The business had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 EPS. As a group, equities analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be given a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix's payout ratio is 33.33%.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the sale, the executive vice president now directly owns 41,111 shares in the company, valued at approximately $2,285,771.60. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company's stock.

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.