Yousif Capital Management LLC Has $890,000 Stake in Concentrix Corporation $CNXC

Yousif Capital Management LLC trimmed its holdings in Concentrix Corporation (NASDAQ:CNXC) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,834 shares of the company’s stock after selling 458 shares during the period. Yousif Capital Management LLC’s holdings in Concentrix were worth $890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CNXC. GAMMA Investing LLC grew its stake in Concentrix by 761.3% in the first quarter. GAMMA Investing LLC now owns 2,446 shares of the company’s stock valued at $136,000 after acquiring an additional 2,162 shares during the period. SG Americas Securities LLC acquired a new position in Concentrix in the first quarter valued at about $347,000. Wealth Enhancement Advisory Services LLC grew its stake in Concentrix by 687.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 50,270 shares of the company’s stock valued at $2,797,000 after acquiring an additional 43,888 shares during the period. Janney Montgomery Scott LLC acquired a new position in Concentrix in the first quarter valued at about $495,000. Finally, Blue Trust Inc. grew its stake in Concentrix by 29.9% in the first quarter. Blue Trust Inc. now owns 3,129 shares of the company’s stock valued at $174,000 after acquiring an additional 720 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Concentrix news, CEO Christopher A. Caldwell acquired 1,000 shares of the business’s stock in a transaction dated Friday, October 10th. The stock was bought at an average cost of $45.35 per share, with a total value of $45,350.00. Following the completion of the transaction, the chief executive officer directly owned 305,345 shares in the company, valued at approximately $13,847,395.75. This represents a 0.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total value of $28,955.00. Following the completion of the sale, the executive vice president directly owned 37,130 shares of the company’s stock, valued at approximately $2,150,198.30. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CNXC shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Concentrix in a research report on Tuesday, September 23rd. Barrington Research reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Concentrix in a research report on Wednesday, September 24th. Robert W. Baird reduced their price objective on Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. Bank of America reduced their price objective on Concentrix from $65.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, June 27th. Finally, Weiss Ratings raised Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.25.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $46.81 on Wednesday. The stock has a 50 day moving average price of $50.30 and a 200 day moving average price of $52.35. Concentrix Corporation has a 52 week low of $36.28 and a 52 week high of $66.00. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $2.91 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.65 and a beta of 0.50.

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, October 24th. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.1%. Concentrix’s payout ratio is 28.12%.

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.