XTX Topco Ltd Invests $778,000 in Concentrix Co. (NASDAQ:CNXC)

XTX Topco Ltd acquired a new position in Concentrix Co. (NASDAQ:CNXC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,399 shares of the company’s stock, valued at approximately $778,000.

Several other institutional investors have also recently modified their holdings of the company. CoreCap Advisors LLC acquired a new stake in Concentrix during the fourth quarter worth about $40,000. Machina Capital S.A.S. acquired a new stake in Concentrix during the first quarter worth about $85,000. Royal Bank of Canada grew its holdings in Concentrix by 80.4% in the third quarter. Royal Bank of Canada now owns 1,097 shares of the company’s stock valued at $122,000 after purchasing an additional 489 shares during the period. Advisors Asset Management Inc. grew its holdings in Concentrix by 36.1% in the fourth quarter. Advisors Asset Management Inc. now owns 1,214 shares of the company’s stock valued at $162,000 after purchasing an additional 322 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in Concentrix in the first quarter valued at approximately $190,000. 79.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Concentrix

In related news, Director Kathryn Hayley bought 300 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was bought at an average cost of $83.93 per share, for a total transaction of $25,179.00. Following the acquisition, the director now directly owns 2,155 shares in the company, valued at $180,869.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kathryn Hayley bought 300 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was bought at an average cost of $83.93 per share, for a total transaction of $25,179.00. Following the acquisition, the director now directly owns 2,155 shares in the company, valued at $180,869.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jane Fogarty purchased 400 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was acquired at an average cost of $82.85 per share, for a total transaction of $33,140.00. Following the purchase, the executive vice president now owns 5,217 shares in the company, valued at $432,228.45. The disclosure for this purchase can be found here. 0.88% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on CNXC. Barrington Research dropped their price objective on Concentrix from $165.00 to $98.00 in a report on Thursday, June 29th. Redburn Atlantic began coverage on Concentrix in a report on Wednesday. They issued a “neutral” rating and a $70.00 price objective on the stock. Bank of America lowered Concentrix from a “buy” rating to a “neutral” rating in a report on Thursday, June 29th. Finally, Scotiabank began coverage on Concentrix in a report on Wednesday, August 23rd. They issued a “sector outperform” rating and a $120.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.60.

Concentrix Stock Performance

Shares of NASDAQ:CNXC opened at $72.07 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.74 and a quick ratio of 1.74. The business’s 50 day moving average price is $79.85 and its 200-day moving average price is $95.51. The firm has a market capitalization of $3.75 billion, a PE ratio of 9.95, a P/E/G ratio of 0.64 and a beta of 0.42. Concentrix Co. has a 1 year low of $70.58 and a 1 year high of $151.82.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, June 28th. The company reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.75 by ($0.06). The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.66 billion. Concentrix had a return on equity of 19.99% and a net margin of 5.85%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.74 earnings per share. As a group, equities research analysts expect that Concentrix Co. will post 10.7 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 8th. Shareholders of record on Friday, July 28th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 1.53%. The ex-dividend date was Thursday, July 27th. Concentrix’s payout ratio is currently 15.19%.

Concentrix Profile

Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; analytics and actionable insights; digital transformation; and voice of the customer and analytics solutions.