Intech Investment Management LLC lifted its holdings in shares of Concentrix Corporation (NASDAQ:CNXC – Free Report) by 353.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,521 shares of the company’s stock after buying an additional 31,586 shares during the period. Intech Investment Management LLC owned about 0.07% of Concentrix worth $1,685,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Huntington National Bank raised its stake in shares of Concentrix by 6,011.1% during the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock worth $25,000 after buying an additional 541 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Concentrix by 224.9% during the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after buying an additional 479 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after buying an additional 522 shares in the last quarter. Rothschild Investment LLC raised its stake in shares of Concentrix by 14,980.0% during the 3rd quarter. Rothschild Investment LLC now owns 754 shares of the company’s stock worth $35,000 after buying an additional 749 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Concentrix by 1,032.5% during the 4th quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock worth $36,000 after buying an additional 795 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on the company. Robert W. Baird cut their target price on Concentrix from $52.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Barrington Research cut their target price on Concentrix from $62.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Wall Street Zen downgraded Concentrix from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Canaccord Genuity Group cut their target price on Concentrix from $80.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Concentrix in a research note on Monday, April 27th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Concentrix presently has a consensus rating of “Hold” and an average target price of $48.50.
Concentrix Stock Performance
CNXC opened at $28.57 on Friday. The stock has a market cap of $1.74 billion, a P/E ratio of -1.33, a P/E/G ratio of 0.35 and a beta of 0.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $26.47 and its 200 day simple moving average is $33.29. Concentrix Corporation has a 1-year low of $22.05 and a 1-year high of $62.14.
Concentrix (NASDAQ:CNXC – Get Free Report) last released its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.04). The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 EPS. As a group, equities analysts anticipate that Concentrix Corporation will post 10.42 EPS for the current fiscal year.
Concentrix Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were issued a $0.36 dividend. The ex-dividend date was Friday, April 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.0%. Concentrix’s dividend payout ratio is currently -6.68%.
Insider Buying and Selling
In other news, CFO Andre S. Valentine purchased 2,500 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the acquisition, the chief financial officer directly owned 89,066 shares in the company, valued at approximately $2,489,394.70. The trade was a 2.89% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total value of $133,500,000.00. Following the completion of the sale, the insider owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. This represents a 68.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% 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.
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