GAMMA Investing LLC Acquires 135,811 Shares of Concentrix Co. (NASDAQ:CNXC)

GAMMA Investing LLC raised its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 47,820.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 136,095 shares of the company’s stock after acquiring an additional 135,811 shares during the period. GAMMA Investing LLC owned approximately 0.21% of Concentrix worth $7,572,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CNXC. Steward Partners Investment Advisory LLC increased its position 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 buying an additional 286 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of 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 buying an additional 490 shares in the last quarter. Parkside Financial Bank & Trust increased its position 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 valued at $52,000 after buying an additional 444 shares in the last quarter. KBC Group NV increased its position in shares of Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after buying an additional 815 shares in the last quarter. Finally, Quarry LP increased its position in shares of Concentrix by 843.9% in the 4th quarter. Quarry LP now owns 2,539 shares of the company’s stock valued at $110,000 after buying an additional 2,270 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $57.06, for a total transaction of $28,530.00. Following the completion of the transaction, the executive vice president now directly owns 38,130 shares in the company, valued at $2,175,697.80. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher A. Caldwell acquired 1,000 shares of Concentrix stock in a transaction dated Monday, April 21st. The shares were acquired at an average price of $46.00 per share, with a total value of $46,000.00. Following the completion of the purchase, the chief executive officer now owns 303,362 shares in the company, valued at approximately $13,954,652. The trade was a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 30,944 shares of company stock worth $1,510,158. Corporate insiders own 3.20% of the company’s stock.

Concentrix Price Performance

CNXC stock opened at $56.61 on Monday. The stock has a 50-day moving average price of $52.01 and a two-hundred day moving average price of $48.51. The stock has a market cap of $3.62 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 0.63 and a beta of 0.56. 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 1 year low of $36.28 and a 1 year high of $77.00.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 EPS. Equities analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th were issued a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Friday, April 25th. Concentrix’s dividend payout ratio (DPR) is presently 33.33%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Bank of America upped their price objective on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Barrington Research lowered their price objective on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $65.75.

Concentrix 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.