Impact Partnership Wealth LLC Makes New $323,000 Investment in Concentrix Co. (NASDAQ:CNXC)

Impact Partnership Wealth LLC bought a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,474 shares of the company's stock, valued at approximately $323,000.

Other hedge funds also recently added to or reduced their stakes in the company. 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. Benjamin F. Edwards & Company Inc. purchased a new stake in Concentrix in the second quarter valued at about $68,000. Quarry LP boosted its holdings in Concentrix by 769.9% in the second quarter. Quarry LP now owns 1,244 shares of the company's stock worth $79,000 after acquiring an additional 1,101 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Concentrix during the third quarter worth about $146,000. Finally, Blue Trust Inc. increased its holdings in shares of Concentrix by 62.4% during the third quarter. Blue Trust Inc. now owns 3,132 shares of the company's stock valued at $161,000 after acquiring an additional 1,204 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CNXC. Canaccord Genuity Group cut their price target on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Robert W. Baird began coverage on Concentrix in a report on Thursday, October 3rd. They set an "outperform" rating and a $70.00 target price on the stock. Finally, Baird R W raised Concentrix to a "strong-buy" rating in a report on Thursday, October 3rd. 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $75.00.

Insider Transactions at Concentrix

In other Concentrix news, Director Kathryn Hayley bought 500 shares of Concentrix stock in a transaction that occurred on Wednesday, January 22nd. The shares were purchased at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the transaction, the director now owns 3,034 shares of the company's stock, valued at $152,367.48. This represents a 19.73 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,500 shares of company stock valued at $66,690 over the last three months. 3.10% of the stock is currently owned by insiders.

Concentrix Stock Performance

NASDAQ CNXC traded up $0.10 on Friday, hitting $52.54. 1,037,902 shares of the company's stock were exchanged, compared to its average volume of 649,564. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.57. The firm's 50-day moving average price is $44.66 and its two-hundred day moving average price is $54.25. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 0.70 and a beta of 0.63. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $95.04.

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

Concentrix Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, January 31st. Concentrix's dividend payout ratio (DPR) is presently 35.85%.

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.