Xponance Inc. Raises Holdings in Concentrix Co. (NASDAQ:CNXC)

Xponance Inc. raised its position in shares of Concentrix Co. (NASDAQ:CNXC) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,540 shares of the company’s stock after acquiring an additional 455 shares during the period. Xponance Inc.’s holdings in Concentrix were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its stake in shares of Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after purchasing an additional 286 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in Concentrix by 159.6% in 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 during the period. Parkside Financial Bank & Trust lifted its position 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 grew 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 buying an additional 815 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Concentrix in the third quarter worth $146,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the sale, the executive vice president now directly owns 41,111 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this link. 3.20% of the stock is currently owned by insiders.

Concentrix Stock Down 12.4 %

Shares of Concentrix stock opened at $56.95 on Friday. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00. The company has a market capitalization of $3.66 billion, a PE ratio of 15.35, a P/E/G ratio of 0.63 and a beta of 0.69. 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 has a 50-day moving average of $48.06 and a 200-day moving average of $47.75.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating 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 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 firm earned $2.57 EPS. Concentrix’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, equities analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.34%. Concentrix’s dividend payout ratio is presently 35.85%.

Analyst Upgrades and Downgrades

CNXC has been the topic of several recent research reports. Barrington Research reduced their target price on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Bank of America upped their target price on Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Canaccord Genuity Group dropped their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. One investment 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target 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.