Concentrix Co. (NASDAQ:CNXC) Short Interest Update

Concentrix Co. (NASDAQ:CNXC) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 6,800,000 shares, a growth of 7.4% from the November 30th total of 6,330,000 shares. Based on an average daily trading volume, of 868,900 shares, the days-to-cover ratio is presently 7.8 days. Approximately 14.8% of the shares of the stock are sold short.

Insider Activity at Concentrix

In related news, CEO Christopher A. Caldwell sold 9,823 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 241,841 shares of the company’s stock, valued at $12,745,020.70. This represents a 3.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 11,323 shares of company stock valued at $584,362 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of Concentrix

Institutional investors have recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company’s stock valued at $71,850,000 after purchasing an additional 18,304 shares during the period. GSA Capital Partners LLP acquired a new position in Concentrix in the third quarter valued at approximately $1,243,000. Raymond James & Associates boosted its holdings in shares of Concentrix by 73.3% during the 3rd quarter. Raymond James & Associates now owns 55,313 shares of the company’s stock worth $2,835,000 after buying an additional 23,387 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Concentrix by 24.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company’s stock worth $3,319,000 after buying an additional 12,870 shares during the period. Finally, Intech Investment Management LLC bought a new stake in shares of Concentrix in the 3rd quarter valued at $1,255,000. Institutional investors own 90.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CNXC. Barrington Research cut their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Baird R W upgraded Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America dropped their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Canaccord Genuity Group reduced their target price on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Finally, Robert W. Baird started coverage on shares of Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target for the company. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Concentrix has an average rating of “Buy” and a consensus target price of $79.00.

Concentrix Trading Up 1.0 %

Shares of NASDAQ:CNXC traded up $0.43 during trading on Thursday, reaching $43.70. The stock had a trading volume of 50,956 shares, compared to its average volume of 580,326. Concentrix has a 52 week low of $36.28 and a 52 week 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. The firm’s fifty day moving average is $42.83 and its 200 day moving average is $55.96. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 0.56 and a beta of 0.63.

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.