Guggenheim Capital LLC Buys Shares of 11,174 Concentrix Co. (NASDAQ:CNXC)

Guggenheim Capital LLC purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 11,174 shares of the company's stock, valued at approximately $483,000.

Other hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its position in Concentrix by 81.3% in 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 during the last quarter. Rhumbline Advisers grew its stake in shares of Concentrix by 0.3% during the 4th 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 period. Parkside Financial Bank & Trust increased its holdings in Concentrix by 58.7% in the 4th 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. raised its stake in Concentrix by 8.9% in the 4th quarter. Xponance Inc. now owns 5,540 shares of the company's stock valued at $240,000 after acquiring an additional 455 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Concentrix by 159.6% during the fourth 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. Institutional investors own 90.34% of the company's stock.

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the sale, the executive vice president now owns 41,111 shares of the company's stock, valued at $2,285,771.60. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average cost of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the acquisition, the chief executive officer now owns 303,362 shares in the company, valued at $13,954,652. This represents a 0.33 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 30,444 shares of company stock valued at $1,484,078. 3.20% of the stock is owned by corporate insiders.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $50.21 on Friday. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The stock has a market cap 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. The company has a 50 day moving average of $47.60 and a 200 day moving average of $46.27.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly 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. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the business earned $2.57 EPS. The business's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CNXC shares. Barrington Research reduced their target price on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. 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 note on Thursday, January 16th. Finally, Bank of America increased their target price on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Concentrix has a consensus rating of "Buy" and an average target price of $69.60.

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.

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