Sanctuary Advisors LLC Takes Position in Concentrix Co. (NASDAQ:CNXC)

Sanctuary Advisors LLC bought a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,482 shares of the company's stock, valued at approximately $497,000.

A number of other large investors have also added to or reduced their stakes in the stock. KBC Group NV lifted its stake in Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after acquiring an additional 815 shares during the period. Quest Partners LLC purchased a new stake in Concentrix in the 3rd quarter worth $146,000. Parametrica Management Ltd purchased a new stake in shares of Concentrix during the third quarter worth about $214,000. Verity Asset Management Inc. bought a new stake in shares of Concentrix during the third quarter valued at approximately $247,000. Finally, Bleakley Financial Group LLC purchased a new stake in Concentrix in the 4th quarter worth $276,000. Hedge funds and other institutional investors own 90.34% of the company's stock.

Wall Street Analyst Weigh In

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

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Insider Transactions at Concentrix

In other Concentrix 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 completion of the sale, the executive vice president now directly owns 41,111 shares in the company, valued at approximately $2,285,771.60. The trade was a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company's stock.

Concentrix Stock Up 1.3 %

NASDAQ:CNXC traded up $0.55 during trading hours on Wednesday, reaching $43.00. The company's stock had a trading volume of 741,242 shares, compared to its average volume of 778,715. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The company has a market capitalization of $2.77 billion, a P/E ratio of 11.59, a price-to-earnings-growth ratio of 0.63 and a beta of 0.67. The stock has a 50 day moving average price of $47.48 and a two-hundred day moving average price of $50.54. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00.

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

Concentrix Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were given a $0.3328 dividend. This represents a $1.33 annualized dividend and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, January 31st. Concentrix's payout ratio is currently 35.85%.

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.