Concentrix Corporation $CNXC Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. lifted its holdings in shares of Concentrix Corporation (NASDAQ:CNXC) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,242,763 shares of the company’s stock after purchasing an additional 106,217 shares during the quarter. Vanguard Group Inc. owned about 8.21% of Concentrix worth $291,707,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Fuller & Thaler Asset Management Inc. raised its position in shares of Concentrix by 38.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company’s stock worth $128,998,000 after buying an additional 823,228 shares during the period. Copeland Capital Management LLC raised its position in shares of Concentrix by 3.0% in the 1st quarter. Copeland Capital Management LLC now owns 1,373,432 shares of the company’s stock worth $76,418,000 after buying an additional 40,226 shares during the period. Deprince Race & Zollo Inc. raised its position in shares of Concentrix by 55.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company’s stock worth $43,665,000 after buying an additional 359,476 shares during the period. Paradigm Capital Management Inc. NY raised its position in shares of Concentrix by 2.7% in the 4th quarter. Paradigm Capital Management Inc. NY now owns 750,142 shares of the company’s stock worth $32,459,000 after buying an additional 19,418 shares during the period. Finally, Invenomic Capital Management LP raised its position in shares of Concentrix by 41.1% in the 4th quarter. Invenomic Capital Management LP now owns 666,433 shares of the company’s stock worth $28,837,000 after buying an additional 194,190 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Activity

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total value of $28,955.00. Following the transaction, the executive vice president owned 37,130 shares of the company’s stock, valued at approximately $2,150,198.30. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $48.19 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.14. The stock has a 50 day simple moving average of $54.44 and a 200-day simple moving average of $51.50. The company has a market cap of $3.04 billion, a PE ratio of 13.24, a P/E/G ratio of 0.64 and a beta of 0.53. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $77.00.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.06). Concentrix had a return on equity of 16.31% and a net margin of 2.54%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm earned $2.69 EPS. Concentrix’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th were issued a $0.3328 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.8%. Concentrix’s dividend payout ratio is currently 36.54%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CNXC. Barrington Research reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Concentrix in a research report on Tuesday, June 24th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Concentrix in a research report on Monday, June 30th. Bank of America cut their price objective on Concentrix from $65.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, June 27th. Wall Street Zen lowered Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Robert W. Baird raised their price objective on Concentrix from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Concentrix has an average rating of “Moderate Buy” and an average price target of $66.75.

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.