New Age Alpha Advisors LLC Invests $323,000 in Concentrix Co. (NASDAQ:CNXC)

New Age Alpha Advisors LLC bought a new position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 7,465 shares of the company's stock, valued at approximately $323,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pzena Investment Management LLC raised its position in Concentrix by 60.0% in the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock worth $101,667,000 after acquiring an additional 880,960 shares during the period. State Street Corp raised its holdings in shares of Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company's stock worth $71,850,000 after purchasing an additional 18,304 shares during the period. Copeland Capital Management LLC grew its holdings in Concentrix by 32.9% during the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after purchasing an additional 329,831 shares during the period. Geode Capital Management LLC grew its holdings in Concentrix by 5.2% during the third quarter. Geode Capital Management LLC now owns 878,092 shares of the company's stock valued at $45,013,000 after purchasing an additional 43,295 shares during the period. Finally, Boston Partners increased its position in Concentrix by 51.2% in the fourth quarter. Boston Partners now owns 533,144 shares of the company's stock worth $23,576,000 after buying an additional 180,581 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

CNXC has been the topic of a number of recent research reports. Barrington Research dropped their price target on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Canaccord Genuity Group dropped their price objective 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. Finally, Bank of America boosted their price target on shares of Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. One 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 stock. Based on data from MarketBeat, Concentrix presently has an average rating of "Buy" and an average price target of $69.60.

Concentrix Price Performance

CNXC traded down $2.16 during trading on Friday, reaching $48.27. 1,684,191 shares of the company were exchanged, compared to its average volume of 677,677. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 0.63 and a beta of 0.51. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00. The company's 50-day moving average is $48.22 and its two-hundred day moving average is $46.99.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.21. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix's revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $2.57 earnings per share. Research analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company 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 of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.76%. Concentrix's dividend payout ratio (DPR) is currently 33.33%.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the completion of the transaction, the executive vice president now directly owns 39,130 shares in the company, valued at $2,164,280.30. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.20% of the company's stock.

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.