Stock Traders Buy Large Volume Concentrix Put Options (NASDAQ: CNXC)

Concentrix Co. (NASDAQ: CNXC) saw unusually large options trading on Friday. Investors bought 2,411 put options on the stock. This represents a 1,997% increase over the average daily volume of 115 puts.

A number of research analysts recently published reports on CNXC shares. Zacks Investment Research downgraded Concentrix from a “buy” rating to a “keep” rating in a report released on Tuesday, November 30. Barrington Research increased its price target on Concentrix from $ 182.00 to $ 202.00 and rated the stock as “outperforming” in a report released on Wednesday, September 29.

In other Concentrix news, director Dennis Polk sold 5,000 shares in a transaction dated Wednesday, December 1. The stock was sold for an average price of $ 168.49, for a total value of $ 842,450.00. The sale was disclosed in a file with the Securities & Exchange Commission, accessible through the SEC website. Insiders have sold 15,000 shares of the company valued at $ 2,613,050 in the past 90 days. Company insiders own 0.93% of the company’s shares.

Hedge funds and other institutional investors recently changed their holdings of stocks. SG Capital Management LLC acquired a new position in Concentrix during the third quarter valued at approximately $ 6,217,000. Boston Partners acquired a new equity stake in Concentrix in the second quarter valued at approximately $ 195,221,000. Brookfield Asset Management Inc. acquired a new equity interest in Concentrix in the second quarter valued at approximately $ 7,410,000. M&T Bank Corp acquired a new equity interest in Concentrix in the second quarter valued at approximately $ 211,000. Finally, Citigroup Inc. acquired a new equity interest in Concentrix in the second quarter valued at approximately $ 9,769,000. 75.55% of the shares are held by hedge funds and other institutional investors.

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NASDAQ CNXC traded at $ 11.87 during Friday trading hours, reaching $ 164.47. 260,635 shares of the company traded hands, compared to its average volume of 256,227. The company’s 50-day moving average is $ 176.97 and its 200-day moving average is $ 171.52 . Concentrix has a twelve month low of $ 101.94 and a twelve month high of $ 191.35. The company has a debt to equity ratio of 0.34, a quick ratio of 1.64, and a current ratio of 1.64. The stock has a market cap of $ 8.61 billion and a price-to-earnings ratio of 24.96.

Concentrix Company Profile

Concentrix Corporation provides technology-infused customer experience solutions around the world. It provides CX process optimization, technology innovation, front-office and back-office automation, business analysis and 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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