Two Sigma Securities LLC Takes $448,000 Position in Concentrix Co. (NASDAQ:CNXC)

Two Sigma Securities LLC purchased a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 10,352 shares of the company's stock, valued at approximately $448,000.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in shares of Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after acquiring an additional 286 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after purchasing an additional 490 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock valued at $52,000 after purchasing an additional 444 shares during the period. KBC Group NV lifted its stake in Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after purchasing an additional 815 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Concentrix by 49.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,817 shares of the company's stock worth $122,000 after buying an additional 935 shares during the period. Hedge funds and other institutional investors own 90.34% of the company's stock.

Wall Street Analyst Weigh In

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

Concentrix Price Performance

CNXC stock opened at $50.21 on Friday. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $77.00. The firm has a market capitalization of $3.21 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.63 and a beta of 0.51. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The business's 50-day moving average is $47.60 and its two-hundred day moving average is $46.27.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.37 billion. During the same quarter last year, the company earned $2.57 earnings per share. The firm's revenue was down 1.3% compared to the same quarter last year. Analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be issued a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, April 25th. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Insider Buying and Selling at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. This represents a 2.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were 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 owns 39,130 shares in the company, valued at $2,164,280.30. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,444 shares of company stock worth $1,484,078 over the last ninety days. Corporate insiders own 3.20% 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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