XTX Topco Ltd Buys New Stake in Concentrix Co. (NASDAQ:CNXC)

XTX Topco Ltd purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,693 shares of the company's stock, valued at approximately $246,000.

A number of other institutional investors also recently added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC raised its holdings in Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after purchasing an additional 286 shares in the last quarter. Rhumbline Advisers increased its position in shares of Concentrix by 0.3% during the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock valued at $5,565,000 after purchasing an additional 324 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after buying an additional 444 shares in the last quarter. Xponance Inc. lifted its holdings in shares of Concentrix by 8.9% in the fourth quarter. Xponance Inc. now owns 5,540 shares of the company's stock valued at $240,000 after buying an additional 455 shares during the period. Finally, Venturi Wealth Management LLC boosted its stake in Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Price Performance

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

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the business posted $2.57 EPS. The company's revenue was down 1.3% on a year-over-year basis. On average, analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be paid 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 is currently 33.33%.

Insider Buying and Selling

In other Concentrix news, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the completion of the sale, the director now owns 1,155,862 shares of the company's stock, valued at $56,082,424.24. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction on 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. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,444 shares of company stock valued at $1,484,078. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barrington Research dropped 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. Canaccord Genuity Group dropped their target price 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 raised their target price on shares of Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $69.60.

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.

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