488,178 Shares in Concentrix Co. (NASDAQ:CNXC) Purchased by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. acquired a new position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 488,178 shares of the company's stock, valued at approximately $21,123,000. Alyeska Investment Group L.P. owned about 0.76% of Concentrix as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Barclays PLC boosted its stake in Concentrix by 134.3% in the 3rd quarter. Barclays PLC now owns 35,862 shares of the company's stock worth $1,837,000 after buying an additional 20,559 shares during the last quarter. Nordea Investment Management AB increased its position in Concentrix by 43.9% during the fourth quarter. Nordea Investment Management AB now owns 70,654 shares of the company's stock worth $3,076,000 after purchasing an additional 21,568 shares during the last quarter. First Hawaiian Bank increased its position in Concentrix by 51.3% during the fourth quarter. First Hawaiian Bank now owns 13,619 shares of the company's stock worth $589,000 after purchasing an additional 4,619 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Concentrix by 46.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 31,756 shares of the company's stock worth $1,374,000 after purchasing an additional 10,089 shares during the period. Finally, Impact Partnership Wealth LLC acquired a new position in shares of Concentrix in the 4th quarter valued at $323,000. Hedge funds and other institutional investors own 90.34% of the company's stock.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the transaction, the executive vice president now directly owns 39,130 shares in the company, valued at approximately $2,164,280.30. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Olivier Duha sold 29,444 shares of the business's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the sale, the director now directly owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,444 shares of company stock worth $1,481,628 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Concentrix Stock Up 2.5 %

NASDAQ CNXC traded up $1.30 during mid-day trading on Friday, reaching $53.33. 593,683 shares of the company's stock traded hands, compared to its average volume of 703,079. 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. The company has a fifty day simple moving average of $48.79 and a 200-day simple moving average of $46.48. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 0.63 and a beta of 0.52.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 earnings per share. As a group, equities research analysts expect that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were issued a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, April 25th. Concentrix's dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

Several research analysts recently weighed in on CNXC shares. Bank of America increased their target price on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Barrington Research reduced their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Finally, Canaccord Genuity Group decreased their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $65.75.

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.