57,002 Shares in Concentrix Co. (NASDAQ:CNXC) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 57,002 shares of the company's stock, valued at approximately $2,466,000. Quantbot Technologies LP owned 0.09% of Concentrix as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC boosted its position in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after acquiring an additional 286 shares during the period. Venturi Wealth Management LLC increased its stake in Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after purchasing an additional 490 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock valued at $52,000 after buying an additional 444 shares in the last quarter. KBC Group NV boosted its holdings in shares of Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after buying an additional 815 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Concentrix in the third quarter valued at $146,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CNXC. Barrington Research dropped their target price on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday. Bank of America increased their price objective on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Canaccord Genuity Group lowered their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $69.60.

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Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total transaction of $27,800.00. Following the sale, the executive vice president now directly owns 41,111 shares in the company, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.

Concentrix Trading Up 42.4 %

Shares of CNXC stock traded up $19.36 during trading hours on Thursday, reaching $65.04. The company had a trading volume of 5,754,383 shares, compared to its average volume of 654,019. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00. The company has a 50 day moving average of $47.58 and a 200 day moving average of $47.73. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 0.63 and a beta of 0.69.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the business posted $2.57 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Concentrix Co. will post 10.11 EPS for the current 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 paid a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix's payout ratio is 35.85%.

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.