28,340 Shares in Concentrix Corporation (NASDAQ:CNXC) Purchased by Advisors Preferred LLC

Advisors Preferred LLC purchased a new position in Concentrix Corporation (NASDAQ:CNXC - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 28,340 shares of the company's stock, valued at approximately $1,531,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in shares of Concentrix by 47.3% during the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after acquiring an additional 217 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after acquiring an additional 444 shares in the last quarter. Xponance Inc. boosted its position in shares of Concentrix by 8.9% during the 4th quarter. Xponance Inc. now owns 5,540 shares of the company's stock valued at $240,000 after acquiring an additional 455 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Concentrix by 36.5% during the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after acquiring an additional 548 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Concentrix by 21.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company's stock valued at $140,000 after acquiring an additional 580 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Down 0.4%

Shares of Concentrix stock traded down $0.23 on Friday, hitting $60.55. The company had a trading volume of 372,477 shares, compared to its average volume of 758,827. The firm has a market capitalization of $3.82 billion, a P/E ratio of 16.63, a P/E/G ratio of 0.81 and a beta of 0.53. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a 50-day moving average of $56.40 and a 200-day moving average of $51.50.

Concentrix (NASDAQ:CNXC - Get Free Report) 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 business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the previous year, the company posted $2.69 EPS. The business's revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts predict that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Friday, July 25th will be given a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, July 25th. Concentrix's dividend payout ratio is 36.54%.

Insider Buying and Selling

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $57.06, for a total transaction of $28,530.00. Following the sale, the executive vice president directly owned 38,130 shares of the company's stock, valued at approximately $2,175,697.80. The trade was a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.