UMB Bank n.a. Acquires 217 Shares of Concentrix Co. (NASDAQ:CNXC)

UMB Bank n.a. increased its position in shares of Concentrix Co. (NASDAQ:CNXC) by 47.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 676 shares of the company’s stock after acquiring an additional 217 shares during the quarter. UMB Bank n.a.’s holdings in Concentrix were worth $38,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its stake in Concentrix by 81.3% in the fourth 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 during the period. Venturi Wealth Management LLC increased its holdings in shares of Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after acquiring an additional 490 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after acquiring an additional 444 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Concentrix by 582.5% in the first quarter. Versant Capital Management Inc now owns 2,109 shares of the company’s stock worth $117,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Concentrix by 843.9% in the fourth quarter. Quarry LP now owns 2,539 shares of the company’s stock worth $110,000 after acquiring an additional 2,270 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Buying and Selling at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the completion of the transaction, the director now owns 1,155,862 shares of the company’s stock, valued at approximately $56,082,424.24. The trade was a 2.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Caldwell purchased 1,000 shares of the stock in a transaction dated Monday, April 21st. The shares were acquired at an average cost of $46.00 per share, with a total value of $46,000.00. Following the acquisition, the chief executive officer now directly owns 303,362 shares in the company, valued at $13,954,652. This represents a 0.33% increase in their position. The disclosure for this purchase can be found here. Insiders sold 30,944 shares of company stock valued at $1,510,158 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Concentrix Stock Down 3.2%

CNXC stock opened at $55.32 on Monday. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 0.63 and a beta of 0.56. The business has a 50 day moving average price of $52.74 and a two-hundred day moving average price of $48.93. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.21. The business 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 firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $2.57 EPS. Analysts anticipate that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were issued a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.41%. Concentrix’s payout ratio is currently 33.33%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Barrington Research decreased their price objective on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Bank of America increased their price objective on Concentrix from $59.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, June 9th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $67.25.

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.