Harbor Capital Advisors Inc. Cuts Stock Position in Concentrix Corporation $CNXC

Harbor Capital Advisors Inc. cut its holdings in shares of Concentrix Corporation (NASDAQ:CNXC) by 48.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,736 shares of the company’s stock after selling 21,466 shares during the period. Harbor Capital Advisors Inc.’s holdings in Concentrix were worth $1,049,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its stake in Concentrix by 13.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock worth $118,000 after purchasing an additional 263 shares in the last quarter. Earned Wealth Advisors LLC increased its position in shares of Concentrix by 6.4% in the 2nd quarter. Earned Wealth Advisors LLC now owns 4,488 shares of the company’s stock valued at $237,000 after purchasing an additional 269 shares during the last quarter. True Wealth Design LLC lifted its holdings in Concentrix by 39.3% during the 2nd quarter. True Wealth Design LLC now owns 1,163 shares of the company’s stock worth $61,000 after buying an additional 328 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Concentrix by 23.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,818 shares of the company’s stock worth $96,000 after acquiring an additional 351 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its stake in Concentrix by 4.5% during the second quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company’s stock worth $473,000 after purchasing an additional 384 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Stock Up 0.6%

Concentrix stock opened at $41.96 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 0.56 and a beta of 0.50. The firm has a fifty day moving average price of $38.88 and a two-hundred day moving average price of $47.83. Concentrix Corporation has a fifty-two week low of $31.63 and a fifty-two week high of $66.00.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Thursday, September 25th. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.10). The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Concentrix had a return on equity of 16.02% and a net margin of 3.25%.The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the business earned $2.87 earnings per share. As a group, analysts forecast that Concentrix Corporation will post 10.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CNXC shares. Robert W. Baird lowered their target price on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, September 29th. Weiss Ratings lowered shares of Concentrix from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Concentrix in a research report on Tuesday, September 23rd. Wall Street Zen upgraded shares of Concentrix from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Barrington Research restated an “outperform” rating and set a $62.00 price objective on shares of Concentrix in a research note on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.25.

Insider Buying and Selling at Concentrix

In related news, CEO Christopher A. Caldwell acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average price of $40.00 per share, for a total transaction of $40,000.00. Following the transaction, the chief executive officer directly owned 287,661 shares of the company’s stock, valued at approximately $11,506,440. This trade represents a 0.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 4,000 shares of company stock valued at $169,410 over the last three months. Company insiders own 3.20% of the company’s stock.

Concentrix Profile

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.