Cwm LLC Boosts Stock Position in Concentrix Co. (NASDAQ:CNXC)

Cwm LLC lifted its position in Concentrix Co. (NASDAQ:CNXC) by 29.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,601 shares of the company’s stock after purchasing an additional 590 shares during the quarter. Cwm LLC’s holdings in Concentrix were worth $255,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CNXC. SG Americas Securities LLC boosted its holdings in shares of Concentrix by 55.4% in the 3rd quarter. SG Americas Securities LLC now owns 2,472 shares of the company’s stock worth $198,000 after purchasing an additional 881 shares in the last quarter. Simplicity Solutions LLC purchased a new stake in Concentrix during the 3rd quarter valued at about $245,000. Raymond James & Associates boosted its holdings in Concentrix by 433.5% during the 3rd quarter. Raymond James & Associates now owns 70,026 shares of the company’s stock valued at $5,610,000 after acquiring an additional 56,901 shares during the period. Bank of New York Mellon Corp boosted its holdings in Concentrix by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 448,535 shares of the company’s stock valued at $35,932,000 after acquiring an additional 13,914 shares during the period. Finally, Miracle Mile Advisors LLC boosted its holdings in Concentrix by 4.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,366 shares of the company’s stock valued at $350,000 after acquiring an additional 168 shares during the period. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CNXC shares. Bank of America restated an “underperform” rating and set a $60.00 target price (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Barrington Research lowered their price target on Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, March 27th. Finally, Scotiabank decreased their target price on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a research report on Monday, April 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Concentrix has a consensus rating of “Hold” and an average price target of $74.75.

Insider Buying and Selling at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell bought 900 shares of the business’s stock in a transaction on Friday, April 19th. The shares were acquired at an average cost of $54.59 per share, for a total transaction of $49,131.00. Following the purchase, the chief executive officer now owns 239,128 shares in the company, valued at approximately $13,053,997.52. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have acquired 1,679 shares of company stock worth $98,546. Insiders own 3.00% of the company’s stock.

Concentrix Stock Up 3.6 %

CNXC stock opened at $59.35 on Friday. Concentrix Co. has a twelve month low of $53.89 and a twelve month high of $106.10. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. The firm has a market cap of $3.92 billion, a PE ratio of 12.24, a price-to-earnings-growth ratio of 0.64 and a beta of 0.55. The business has a 50 day moving average of $62.70 and a 200 day moving average of $80.27.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Tuesday, March 26th. The company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). Concentrix had a net margin of 3.53% and a return on equity of 17.70%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. On average, research analysts forecast that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a yield of 2.04%. This is an increase from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, April 25th. Concentrix’s dividend payout ratio (DPR) is currently 24.95%.

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.