Scientech Research LLC Purchases Shares of 25,324 Concentrix Co. (NASDAQ:CNXC)

Scientech Research LLC purchased a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 25,324 shares of the company's stock, valued at approximately $1,603,000.

A number of other institutional investors have also bought and sold shares of CNXC. Hexagon Capital Partners LLC boosted 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. GAMMA Investing LLC boosted its position in Concentrix by 1,005.0% during the second quarter. GAMMA Investing LLC now owns 442 shares of the company's stock valued at $28,000 after acquiring an additional 402 shares during the last quarter. Pineridge Advisors LLC bought a new stake in Concentrix during the fourth quarter valued at $35,000. First Horizon Advisors Inc. boosted 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. Finally, Benjamin F. Edwards & Company Inc. bought a new position in shares of Concentrix during the 2nd quarter worth about $68,000. Institutional investors own 90.34% of the company's stock.

Concentrix Trading Down 19.0 %

CNXC opened at $51.54 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56. Concentrix Co. has a fifty-two week low of $51.02 and a fifty-two week high of $106.10. The firm has a market capitalization of $3.35 billion, a PE ratio of 11.93, a P/E/G ratio of 0.67 and a beta of 0.61. The company's 50-day moving average is $67.59 and its 200 day moving average is $63.67.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing analysts' consensus estimates of $2.93 by ($0.06). Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the prior year, the company earned $2.54 EPS. The company's revenue was up 46.2% on a year-over-year basis. As a group, research analysts predict that Concentrix Co. will post 10.8 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th will be paid a $0.333 dividend. This is a positive change from Concentrix's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.33 annualized dividend and a yield of 2.58%. Concentrix's dividend payout ratio (DPR) is 28.01%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CNXC shares. Bank of America cut their price objective on shares of Concentrix from $85.00 to $70.00 and set a "neutral" rating on the stock in a research report on Thursday. Canaccord Genuity Group cut their price objective on shares of Concentrix from $125.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Barrington Research cut their price objective on shares of Concentrix from $84.00 to $70.00 and set an "outperform" rating on the stock in a research report on Thursday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.25.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $74.63, for a total value of $29,852.00. Following the completion of the sale, the executive vice president now owns 29,327 shares in the company, valued at approximately $2,188,674.01. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.00% of the company's stock.

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.

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