Concentrix Co. (NASDAQ:CNXC) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. boosted its holdings in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,084 shares of the company's stock after purchasing an additional 4,997 shares during the quarter. Pacer Advisors Inc.'s holdings in Concentrix were worth $1,085,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CNXC. GAMMA Investing LLC increased its position in Concentrix by 64.9% during the third quarter. GAMMA Investing LLC now owns 729 shares of the company's stock valued at $37,000 after acquiring an additional 287 shares during the last quarter. KBC Group NV lifted its stake in Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after acquiring an additional 815 shares during the period. Quest Partners LLC bought a new position in Concentrix during the 3rd quarter worth about $146,000. Blue Trust Inc. increased its position in Concentrix by 62.4% during the 3rd quarter. Blue Trust Inc. now owns 3,132 shares of the company's stock valued at $161,000 after purchasing an additional 1,204 shares during the period. Finally, Parametrica Management Ltd bought a new stake in shares of Concentrix in the 3rd quarter valued at about $214,000. Institutional investors own 90.34% of the company's stock.

Insider Buying and Selling at Concentrix

In other Concentrix news, Director Kathryn Hayley acquired 500 shares of the company's stock in a transaction dated Wednesday, January 22nd. The shares were acquired at an average cost of $50.22 per share, with a total value of $25,110.00. Following the acquisition, the director now directly owns 3,034 shares of the company's stock, valued at approximately $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 1,500 shares of company stock worth $72,400. 3.10% of the stock is currently owned by insiders.

Concentrix Stock Down 1.3 %

NASDAQ CNXC traded down $0.64 on Thursday, hitting $48.07. The stock had a trading volume of 709,446 shares, compared to its average volume of 836,394. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $86.25. The business's fifty day moving average price is $46.40 and its 200 day moving average price is $53.26. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.72 and a beta of 0.66.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm earned $3.36 EPS. Concentrix's revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st will be given a dividend of $0.3328 per share. The ex-dividend date is Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a yield of 2.77%. Concentrix's dividend payout ratio is currently 35.85%.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their price objective on Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $75.00.

Concentrix Company 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.