67,811 Shares in Concentrix Corporation (NASDAQ:CNXC) Purchased by Cerity Partners LLC

Cerity Partners LLC purchased a new stake in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 67,811 shares of the company's stock, valued at approximately $3,773,000. Cerity Partners LLC owned about 0.11% of Concentrix at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fuller & Thaler Asset Management Inc. boosted its position 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 worth $128,998,000 after purchasing an additional 823,228 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in shares of Concentrix in the 4th quarter worth about $21,123,000. Millennium Management LLC raised its holdings in shares of Concentrix by 232.9% in the 4th quarter. Millennium Management LLC now owns 578,700 shares of the company's stock worth $25,040,000 after acquiring an additional 404,885 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Concentrix by 209.0% in the 4th quarter. Marshall Wace LLP now owns 593,043 shares of the company's stock worth $25,661,000 after acquiring an additional 401,133 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in shares of Concentrix by 55.3% in the 4th quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock worth $43,665,000 after acquiring an additional 359,476 shares during the last quarter. Institutional investors own 90.34% of the company's stock.

Insider Buying and Selling

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $57.06, for a total value of $28,530.00. Following the sale, the executive vice president directly owned 38,130 shares in the company, valued at approximately $2,175,697.80. This trade represents a 1.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by insiders.

Concentrix Stock Performance

CNXC traded down $0.51 on Monday, hitting $57.82. The company's stock had a trading volume of 736,215 shares, compared to its average volume of 750,802. The company's 50 day simple moving average is $55.90 and its 200-day simple moving average is $51.08. The firm has a market cap of $3.64 billion, a P/E ratio of 15.88, a price-to-earnings-growth ratio of 0.77 and a beta of 0.53. Concentrix Corporation has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.14.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly 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 net margin of 2.54% and a return on equity of 16.31%. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $2.69 earnings per share. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. Analysts forecast that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Friday, July 25th will be given a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, July 25th. Concentrix's payout ratio is presently 36.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CNXC shares. Bank of America decreased their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday, June 27th. Barrington Research reiterated an "outperform" rating and issued a $54.00 price objective on shares of Concentrix in a research note on Tuesday, June 24th. Canaccord Genuity Group reiterated a "buy" rating and issued a $80.00 price objective on shares of Concentrix in a research note on Monday, June 30th. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Robert W. Baird raised their price target on shares of Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given 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 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.