24,247 Shares in Concentrix Co. (NASDAQ:CNXC) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,247 shares of the company's stock, valued at approximately $1,243,000.

Several other hedge funds have also recently made changes to their positions in CNXC. SummerHaven Investment Management LLC boosted its stake in shares of Concentrix by 2.9% during the second quarter. SummerHaven Investment Management LLC now owns 8,662 shares of the company's stock valued at $548,000 after purchasing an additional 248 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Concentrix by 54.0% during the second quarter. First Horizon Advisors Inc. now owns 813 shares of the company's stock valued at $51,000 after acquiring an additional 285 shares during the last quarter. GAMMA Investing LLC lifted 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. nVerses Capital LLC lifted its position in Concentrix by 10.7% during the second quarter. nVerses Capital LLC now owns 3,100 shares of the company's stock valued at $196,000 after acquiring an additional 300 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in Concentrix by 2,992.3% during the second quarter. Hexagon Capital Partners LLC now owns 402 shares of the company's stock valued at $25,000 after acquiring an additional 389 shares during the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CNXC has been the subject of a number of research analyst reports. Barrington Research decreased their price target on shares of Concentrix from $84.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, September 26th. Bank of America decreased their price target on shares of Concentrix from $85.00 to $70.00 and set a "neutral" rating for the company in a report on Thursday, September 26th. Robert W. Baird began coverage on shares of Concentrix in a report on Thursday, October 3rd. They set an "outperform" rating and a $70.00 target price for the company. Baird R W raised shares of Concentrix to a "strong-buy" rating in a report on Thursday, October 3rd. Finally, Canaccord Genuity Group reduced their target price on shares of Concentrix from $125.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $79.00.

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the firm's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $74.63, for a total transaction of $29,852.00. Following the completion of the transaction, the executive vice president now directly owns 29,327 shares in the company, valued at approximately $2,188,674.01. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher A. Caldwell sold 9,823 shares of the firm's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $52.70, for a total transaction of $517,672.10. Following the transaction, the chief executive officer now owns 241,841 shares of the company's stock, valued at $12,745,020.70. This trade represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,267 shares of company stock worth $648,945. Company insiders own 3.10% of the company's stock.

Concentrix Stock Down 3.8 %

CNXC traded down $1.50 during trading hours on Friday, hitting $38.29. 652,854 shares of the company's stock were exchanged, compared to its average volume of 560,466. Concentrix Co. has a 12-month low of $37.94 and a 12-month high of $106.10. The firm has a 50 day moving average of $52.02 and a 200 day moving average of $60.31. The firm has a market cap of $2.48 billion, a P/E ratio of 12.45, a price-to-earnings-growth ratio of 0.56 and a beta of 0.61. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.06). The firm had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.38 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The company's revenue for the quarter was up 46.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 earnings per share. Analysts predict that Concentrix Co. will post 10.18 EPS for the current fiscal year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were paid a dividend of $0.333 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.33 dividend on an annualized basis and a yield of 3.48%. This is a boost from Concentrix's previous quarterly dividend of $0.30. Concentrix's dividend payout ratio is currently 43.18%.

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.