Concentrix Co. (NASDAQ:CNXC) Shares Purchased by Xponance Inc.

Xponance Inc. grew its stake in Concentrix Co. (NASDAQ:CNXC) by 10.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,691 shares of the company’s stock after acquiring an additional 541 shares during the period. Xponance Inc.’s holdings in Concentrix were worth $559,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in CNXC. CWM LLC boosted its stake in shares of Concentrix by 205.2% in the third quarter. CWM LLC now owns 2,011 shares of the company’s stock valued at $161,000 after purchasing an additional 1,352 shares during the period. SG Americas Securities LLC increased its position in shares of Concentrix by 55.4% in the 3rd quarter. SG Americas Securities LLC now owns 2,472 shares of the company’s stock valued at $198,000 after purchasing an additional 881 shares during the last quarter. Simplicity Solutions LLC acquired a new position in shares of Concentrix during the third quarter worth $245,000. Raymond James & Associates boosted its position in shares of Concentrix by 433.5% during the 3rd quarter. Raymond James & Associates now owns 70,026 shares of the company’s stock worth $5,610,000 after acquiring an additional 56,901 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Concentrix by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 448,535 shares of the company’s stock valued at $35,932,000 after acquiring an additional 13,914 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Stock Down 0.8 %

Shares of NASDAQ CNXC opened at $55.01 on Friday. The business has a 50-day moving average price of $64.81 and a 200 day moving average price of $80.96. The stock has a market cap of $3.63 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 0.64 and a beta of 0.48. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. Concentrix Co. has a 52-week low of $54.16 and a 52-week high of $106.10.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Equities research analysts forecast that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th will be paid a dividend of $0.303 per share. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.20%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, April 25th. Concentrix’s payout ratio is 24.95%.

Analysts Set New Price Targets

CNXC has been the subject of several recent analyst reports. Barrington Research decreased their target price on Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, March 27th. Bank of America restated an “underperform” rating and set a $60.00 price objective (down previously from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Concentrix has an average rating of “Hold” and a consensus target price of $82.25.

Insider Activity at Concentrix

In related news, CEO Christopher A. Caldwell acquired 900 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were purchased at an average price of $54.59 per share, with a total value of $49,131.00. Following the completion of the acquisition, the chief executive officer now owns 239,128 shares in the company, valued at $13,053,997.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 1,879 shares of company stock worth $116,400 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Concentrix 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.