Arkadios Wealth Advisors Buys Shares of 9,714 Concentrix Corporation (NASDAQ:CNXC)

Key Points

• Arkadios Wealth Advisors acquired 9,714 shares of Concentrix Corporation valued at approximately $540,000 in the first quarter, indicating growing interest from institutional investors, with 90.34% of the stock now owned by them.
• Concentrix reported a net margin of 2.54% and a return on equity of 16.31% in its latest earnings release, missing the EPS estimate by $0.06 while achieving a revenue of $2.42 billion.
• The company announced a quarterly dividend of $0.3328, resulting in an annualized dividend yield of 2.8%, with the ex-dividend date set for July 25th.

Arkadios Wealth Advisors acquired a new stake in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 9,714 shares of the company's stock, valued at approximately $540,000.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group restated a "buy" rating and set a $80.00 target price on shares of Concentrix in a research report on Monday, June 30th. Wall Street Zen cut Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Bank of America dropped their target price on 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 raised their target price on Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Finally, Barrington Research restated an "outperform" rating and set a $54.00 target price on shares of Concentrix in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $66.75.

Concentrix Price Performance

CNXC stock traded up $0.91 during trading on Friday, hitting $47.11. The stock had a trading volume of 322,062 shares, compared to its average volume of 807,173. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $77.00. The stock has a market capitalization of $2.97 billion, a P/E ratio of 12.97, a PEG ratio of 0.62 and a beta of 0.53. The company's 50-day moving average price is $55.40 and its two-hundred day moving average price is $51.73.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.06). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%. The company's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.69 earnings per share. As a group, research analysts predict that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th were given a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, July 25th. Concentrix's payout ratio is presently 36.54%.

Insider Activity 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 shares were sold at an average price of $57.91, for a total transaction of $28,955.00. Following the sale, the executive vice president 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.20% of the company's stock.

Concentrix Company 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.