Concentrix Co. (NASDAQ:CNXC) Short Interest Update

Concentrix Co. (NASDAQ:CNXC) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 7,900,000 shares, an increase of 5.1% from the January 15th total of 7,520,000 shares. Based on an average daily volume of 753,200 shares, the days-to-cover ratio is presently 10.5 days. Currently, 17.4% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Canaccord Genuity Group dropped their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. One investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $75.00.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the transaction, the executive vice president now directly owns 41,111 shares in the company, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 1,500 shares of company stock worth $72,400 in the last three months. 3.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Concentrix

A number of hedge funds have recently bought and sold shares of CNXC. Pzena Investment Management LLC grew its stake in Concentrix by 60.0% during the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company’s stock valued at $101,667,000 after purchasing an additional 880,960 shares in the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Concentrix by 38.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company’s stock valued at $128,998,000 after purchasing an additional 823,228 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Concentrix in the 4th quarter worth approximately $21,123,000. Millennium Management LLC grew its position in shares of Concentrix by 232.9% in the 4th quarter. Millennium Management LLC now owns 578,700 shares of the company’s stock worth $25,040,000 after acquiring an additional 404,885 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of Concentrix by 209.0% in the 4th quarter. Marshall Wace LLP now owns 593,043 shares of the company’s stock worth $25,661,000 after acquiring an additional 401,133 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Stock Down 0.8 %

Shares of NASDAQ:CNXC traded down $0.39 during mid-day trading on Monday, hitting $48.12. 529,847 shares of the company traded hands, compared to its average volume of 849,456. The firm has a market cap of $3.10 billion, a P/E ratio of 12.97, a PEG ratio of 0.66 and a beta of 0.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix has a 52-week low of $36.28 and a 52-week high of $85.35. The firm’s 50 day simple moving average is $46.77 and its 200 day simple moving average is $52.22.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm earned $3.36 EPS. Concentrix’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Concentrix will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st were paid a dividend of $0.3328 per share. The ex-dividend date was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a yield of 2.77%. Concentrix’s dividend payout ratio (DPR) is presently 35.85%.

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.