29,527 Shares in Concentrix Co. (NASDAQ:CNXC) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP bought a new stake in Concentrix Co. (NASDAQ:CNXC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 29,527 shares of the company's stock, valued at approximately $1,278,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position in shares of Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after buying an additional 286 shares in the last quarter. Rhumbline Advisers lifted its stake in Concentrix by 0.3% in the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock worth $5,565,000 after acquiring an additional 324 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after acquiring an additional 444 shares during the last quarter. Xponance Inc. grew its holdings in Concentrix by 8.9% during the 4th quarter. Xponance Inc. now owns 5,540 shares of the company's stock worth $240,000 after acquiring an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company's stock.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the transaction, the executive vice president now directly owns 41,111 shares in the company, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the transaction, the director now owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,444 shares of company stock worth $1,484,078 in the last quarter. Company insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Bank of America upped their price objective on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Barrington Research dropped their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Finally, Canaccord Genuity Group reduced their price objective on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. One research 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.com, the stock has a consensus rating of "Buy" and an average price target of $69.60.

Concentrix Stock Performance

NASDAQ:CNXC traded down $0.90 during mid-day trading on Friday, reaching $50.21. 714,795 shares of the stock were exchanged, compared to its average volume of 699,863. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $77.00. The company has a 50 day simple moving average of $47.60 and a 200-day simple moving average of $46.27. The stock has a market capitalization of $3.21 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.63 and a beta of 0.51.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.21. The business 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 quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 EPS. Analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be issued a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Friday, April 25th. Concentrix's dividend payout ratio is currently 33.33%.

About Concentrix

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.