Cambridge Investment Research Advisors Inc. Sells 357 Shares of Concentrix Co. (NASDAQ:CNXC)

Cambridge Investment Research Advisors Inc. decreased its stake in Concentrix Co. (NASDAQ:CNXC) by 15.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,895 shares of the company’s stock after selling 357 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Concentrix were worth $335,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new position in shares of Concentrix during the second quarter valued at $25,000. Salem Investment Counselors Inc. bought a new position in shares of Concentrix during the second quarter valued at $57,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Concentrix during the second quarter valued at $81,000. Brown Brothers Harriman & Co. bought a new position in shares of Concentrix during the second quarter valued at $84,000. Finally, Lazard Asset Management LLC bought a new position in shares of Concentrix during the second quarter valued at $104,000. 75.49% of the stock is owned by institutional investors and hedge funds.

CNXC opened at $166.64 on Friday. Concentrix Co. has a twelve month low of $105.42 and a twelve month high of $191.35. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average of $175.76 and a 200-day moving average of $171.97. The stock has a market cap of $8.72 billion and a PE ratio of 25.29.

Several equities research analysts have recently weighed in on the stock. Barrington Research increased their price objective on shares of Concentrix from $182.00 to $202.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 29th. Zacks Investment Research cut shares of Concentrix from a “buy” rating to a “hold” rating in a research report on Tuesday, November 30th.

In other news, Director Dennis Polk sold 5,000 shares of the stock in a transaction on Wednesday, December 1st. The shares were sold at an average price of $168.49, for a total transaction of $842,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 15,000 shares of company stock valued at $2,613,050. 0.93% of the stock is currently owned by corporate insiders.

Concentrix Company Profile

Concentrix Corporation provides technology-infused customer experience solutions worldwide. It provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services. The company also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.

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Institutional Ownership by Quarter for Concentrix (NASDAQ:CNXC)

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