Prescott Group Capital Management L.L.C. Makes New $865,000 Investment in Concentrix Co. (NASDAQ:CNXC)

Prescott Group Capital Management L.L.C. purchased a new stake in Concentrix Co. (NASDAQ:CNXC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 20,000 shares of the company's stock, valued at approximately $865,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNXC. Wealth Enhancement Advisory Services LLC lifted its stake in Concentrix by 16.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,543 shares of the company's stock valued at $540,000 after buying an additional 1,475 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Concentrix by 106.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 21,667 shares of the company's stock valued at $1,110,000 after purchasing an additional 11,188 shares during the last quarter. Verity Asset Management Inc. acquired a new stake in Concentrix in the 3rd quarter valued at approximately $247,000. Covestor Ltd increased its holdings in Concentrix by 233.3% in the 3rd quarter. Covestor Ltd now owns 13,554 shares of the company's stock valued at $694,000 after purchasing an additional 9,487 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Concentrix in the 3rd quarter valued at approximately $1,243,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total transaction of $27,800.00. Following the transaction, the executive vice president now directly owns 41,111 shares in the company, 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 legal filing with the SEC, which is available through this link. 3.20% of the stock is currently owned by company insiders.

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Concentrix Stock Performance

CNXC traded up $2.47 on Friday, reaching $47.10. The company had a trading volume of 756,757 shares, compared to its average volume of 781,913. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $77.00. The stock has a market capitalization of $3.03 billion, a PE ratio of 12.70, a P/E/G ratio of 0.63 and a beta of 0.69. 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 stock has a 50-day moving average price of $47.54 and a 200-day moving average price of $50.22.

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

Concentrix Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st were paid a $0.3328 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a yield of 2.83%. Concentrix's dividend payout ratio is presently 35.85%.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their price objective on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $75.00.

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.