Concentrix Corporation $CNXC Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its position in Concentrix Corporation (NASDAQ:CNXC) by 21.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,797 shares of the company’s stock after buying an additional 2,230 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Concentrix were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CNXC. Geneos Wealth Management Inc. raised its holdings in shares of Concentrix by 532.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after purchasing an additional 522 shares during the period. IFP Advisors Inc increased its position in Concentrix by 473.8% during the 2nd quarter. IFP Advisors Inc now owns 700 shares of the company’s stock worth $37,000 after purchasing an additional 578 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Concentrix by 111.8% in the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company’s stock valued at $47,000 after buying an additional 444 shares during the period. PNC Financial Services Group Inc. lifted its position in Concentrix by 47.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company’s stock valued at $84,000 after buying an additional 483 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Concentrix by 124.5% during the first quarter. Federated Hermes Inc. now owns 2,364 shares of the company’s stock worth $132,000 after buying an additional 1,311 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Concentrix Stock Performance

Concentrix stock opened at $45.13 on Tuesday. Concentrix Corporation has a 52 week low of $36.28 and a 52 week high of $66.00. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.10. The stock has a market cap of $2.81 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 0.65 and a beta of 0.50. The stock has a 50 day moving average of $50.29 and a 200-day moving average of $52.39.

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th will be paid a $0.36 dividend. This is a boost from Concentrix’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, October 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.2%. Concentrix’s dividend payout ratio (DPR) is currently 28.12%.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 37,130 shares in the company, valued at approximately $2,150,198.30. This trade represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. Caldwell purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were purchased at an average cost of $45.35 per share, for a total transaction of $45,350.00. Following the completion of the transaction, the chief executive officer owned 305,345 shares in the company, valued at approximately $13,847,395.75. This represents a 0.33% increase in their position. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNXC. Bank of America cut their target price on shares of Concentrix from $65.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, June 27th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of Concentrix in a research report on Tuesday, September 23rd. Robert W. Baird reduced their price objective on Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, September 29th. Barrington Research reiterated an “outperform” rating and issued a $62.00 target price on shares of Concentrix in a research note on Wednesday, September 24th. Finally, Weiss Ratings raised Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.25.

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.