Jump Financial LLC Grows Stock Position in Concentrix Co. (NASDAQ:CNXC)

Jump Financial LLC raised its holdings in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 145.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 86,915 shares of the company's stock after purchasing an additional 51,471 shares during the period. Jump Financial LLC owned approximately 0.13% of Concentrix worth $3,761,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp lifted its holdings in Concentrix by 9.0% in the third quarter. Stifel Financial Corp now owns 36,131 shares of the company's stock valued at $1,852,000 after acquiring an additional 2,997 shares during the period. State Street Corp lifted its stake in shares of Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company's stock worth $71,850,000 after purchasing an additional 18,304 shares during the period. Barclays PLC lifted its stake in shares of Concentrix by 134.3% in the 3rd quarter. Barclays PLC now owns 35,862 shares of the company's stock worth $1,837,000 after purchasing an additional 20,559 shares during the period. Geode Capital Management LLC grew its position in Concentrix by 5.2% during the third quarter. Geode Capital Management LLC now owns 878,092 shares of the company's stock valued at $45,013,000 after buying an additional 43,295 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in Concentrix during the third quarter valued at approximately $445,000. Hedge funds and other institutional investors own 90.34% of the company's stock.

Concentrix Price Performance

Shares of NASDAQ CNXC traded up $0.97 during mid-day trading on Tuesday, reaching $47.84. The company's stock had a trading volume of 75,622 shares, compared to its average volume of 694,151. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The stock has a fifty day moving average of $47.53 and a two-hundred day moving average of $46.24. The firm has a market capitalization of $3.06 billion, a PE ratio of 12.91, a P/E/G ratio of 0.63 and a beta of 0.51.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.21. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 earnings per share. As a group, sell-side analysts anticipate that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be given a $0.3328 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.78%. Concentrix's dividend payout ratio is currently 33.33%.

Insider Activity at Concentrix

In related news, Director Olivier Duha sold 29,444 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total value of $1,428,622.88. Following the sale, the director now owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. The trade was a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathryn Hayley acquired 500 shares of the stock in a transaction on Wednesday, January 22nd. The shares were acquired at an average price of $50.22 per share, with a total value of $25,110.00. Following the transaction, the director now directly owns 3,034 shares of the company's stock, valued at $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 30,444 shares of company stock valued at $1,484,078. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CNXC shares. Canaccord Genuity Group reduced 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. Bank of America upped their price target on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Finally, Barrington Research lowered their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Concentrix presently has a consensus rating of "Buy" and a consensus target price of $69.60.

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.